United States-Based South Asian-Focused $1.5 Billion Multi-Family Office Avestar Capital Launches in Singapore & Hires ex-Citigroup Singapore Head of Investments & Head of Citigold Private Client Zal Devitre as CEO Singapore, Founded in 2017 by ex-Merrill Lynch & Goldman Sachs Xerxes Mullan
14th January | Hong Kong
United States-based South Asian-focused $1.5 billion multi-family office Avestar Capital has announced the launch of business in Singapore, and hires ex-Citigroup Singapore Head of Investments & Head of Citigold Private Client Zal Devitre as CEO Singapore. Avestar Capital was founded in 2017 by ex-Merrill Lynch & Goldman Sachs Xerxes Mullan. Announcement (14/1/26): “Avestar Capital, a leading U.S.-based multi-family office, today announced the official launch of its Singapore operations under AVESTAR SINGAPORE PLC PTE. LTD., marking a major milestone in its global expansion strategy. The new office will serve as Avestar’s Asia-Pacific hub, extending its founder-led approach to tailored wealth management for ultra-high-net-worth (UHNW) families across the region. Founded and led by Xerxes Mullan, Avestar Capital has built a strong reputation in the United States for combining the rigor of U.S. wealth management with a deep understanding of global family dynamics. The firm integrates investment advisory, tax and estate planning, philanthropy, and next-generation education into a single, conflict-free platform crafted to maximize its ability to serve families whose interests and ambitions span multiple jurisdictions … … The Singapore office will be led by Zal Devitre, CEO of Avestar Singapore, who brings more than two decades of international experience in wealth management and family office advisory. In conjunction with the launch, Avestar Capital will deepen collaboration with leading partners across investment management, tax, and legal advisory to support families with cross-border interests. This reflects the firm’s continued commitment to offering solutions that are both globally informed and locally relevant. With Singapore’s emergence as a premier destination for family offices, supported by a strong regulatory framework and a stable economic environment, Avestar’s entry underscores its dedication to serving the evolving needs of Asian business families, investors, and next-generation leaders. The establishment of Avestar Singapore marks a defining step in the firm’s mission to deliver tailored wealth strategies, global connectivity, and enduring value for families across generations.”
“ United States-Based South Asian-Focused $1.5 Billion Multi-Family Office Avestar Capital Launches in Singapore & Hires ex-Citigroup Singapore Head of Investments & Head of Citigold Private Client Zal Devitre as CEO Singapore, Founded in 2017 by ex-Merrill Lynch & Goldman Sachs Xerxes Mullan “
![](https://www.caproasia.com/wp-content/uploads/2025/08/Air-Charter-Service-728x90-1.png")
Xerxes Mullan, CEO and Founder of Avestar Capital: ”Singapore represents a natural extension of our global vision. Asia’s families are increasingly seeking an advisory partner who understands the complexity of multi-jurisdictional wealth, someone who can offer institutional-grade expertise while remaining agile and deeply personal in approach. That is the foundation on which Avestar was built.”
Zal Devitre, Singapore CEO, Avestar Capital: “Our presence in Singapore enables us to serve clients in one of the world’s most dynamic and sophisticated wealth centers. Families today expect global reach, innovation, and a long-term mindset. Avestar’s model — anchored in trust, discretion, and enduring results, aligns strongly with the needs of Asia’s entrepreneurs and wealth creators.”
United States-Based South Asian-Focused $1.5 Billion Multi-Family Office Avestar Capital Launches in Singapore & Hires ex-Citigroup Singapore Head of Investments & Head of Citigold Private Client Zal Devitre as CEO Singapore, Founded in 2017 by ex-Merrill Lynch & Goldman Sachs Xerxes Mullan
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
