The billionaire, who has picked a manager to hire staff for the new entity, wants it to be running within a year

Ambani is the latest in a series of ultra-rich people, including Google co-founder Sergey Brin, to pick the city state for their family offices

Asia’s second-wealthiest man, Reliance Industries Ltd. chairman Mukesh Ambani, is setting up a family office in Singapore, according to people familiar with the move.