Asia's Wealthy Brace for Recession Amid Succession Gaps

With over 50% of high-net-worth individuals in the Asia-Pacific region citing recession as their primary concern for the coming three years, investors are grappling with a volatile global landscape defined by shifting trade policies and energy price spikes linked to ongoing conflicts in the Middle East.

Beyond immediate macroeconomic fears, nearly half of those surveyed by Lombard Odier anticipate a potential equity market correction. This anxiety coincides with a systemic failure in long-term legacy management. Despite a stated priority of wealth preservation, nearly 40% of respondents lack any formal succession plan. Markets including Japan, the Philippines, Malaysia, and Hong Kong demonstrate the least preparedness in this area.

Louisa Loo, the firm’s head of wealth planning for Asia, attributes this trend to a generational disconnect. Many family patriarchs remain firmly in control, failing to integrate their successors into the business. As a result, the next generation often pursues independent entrepreneurial interests, leaving families without a ready or willing cohort to take the helm. The survey, conducted between December 2025 and February 2026, gathered insights from 390 individuals holding at least $1 million in investable assets.