More than half of Asia-Pacific's rich worry about recession, Lombard Odier says

• Nearly 40% of respondents lack succession planning despite prioritizing wealth preservation, with Japan, Philippines, Malaysia, and Hong Kong among the least prepared markets
• Succession challenges stem from Asian patriarchs retaining control without engaging next generations, who often pursue independent careers and show little interest in taking over family businesses
• The survey was conducted between December 2025 and February 2026, covering more than 390 Asia-Pacific residents with minimum $1 million net investable assets

Summary:

A Lombard Odier survey reveals that over half of Asia-Pacific's wealthy individuals view economic recession as their primary concern over the next three years, while nearly half worry about an equity market correction or crash. The survey, conducted between December 2025 and February 2026, polled more than 390 high-net-worth individuals across the Asia-Pacific region with at least $1 million in net investable assets.

Key Concerns:

Wealthy investors are navigating significant headwinds, including geopolitical tensions related to U.S. President Donald Trump's policies and a three-month conflict affecting energy prices and inflation. These factors are contributing to heightened uncertainty about market stability and economic growth.

Succession Planning Gap:

A critical finding shows nearly 40% of respondents lack any succession planning despite prioritizing wealth preservation. Japan, the Philippines, Malaysia, and Hong Kong are among the least prepared markets. Louisa Loo, Lombard Odier's head of wealth planning for Asia, attributes this to family patriarchs maintaining control without adequately engaging the next generation. She notes that younger family members often pursue independent career paths and entrepreneurial ventures, leaving them either unprepared or uninterested in taking over family businesses.

Market Implications:

The survey highlights significant anxiety among Asia-Pacific's affluent class about near-term economic prospects, which could influence investment behavior and capital allocation in the region. The succession planning deficit presents potential risks for wealth continuity and family business sustainability across key Asian markets, potentially impacting long-term economic stability in these economies.