Hong Kong to host Rockefeller, Middle East tycoons at global family office forum

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Standard Chartered to kick off its inaugural global family office forum in Hong Kong as the city enhances its role in the region

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Standard Chartered will hold its inaugural annual family office forum this week. Photo: Edmond So

Enoch Yiu

Published: 8:30am, 15 Oct 2024Updated: 8:40am, 15 Oct 2024

More than 200 representatives from some of the world’s wealthiest families, including the Rockeller family, will be in Hong Kong this week to network, develop business ties and seek growth opportunities in the region, according to Standard Chartered.

Tycoons from the Middle East, India and Africa are also expected to show up at the Global Family Network Forum, a move seen as helping Hong Kong establish an edge over rival regional financial centres for the assets and talents in the industry.

The two-day forum, which kicks off on Tuesday at the Four Seasons Hotel in Central, will be the UK lender’s inaugural annual event, according to Raymond Ang, global head of private banking and affluent clients for Greater China and North Asia. More than half of the attendees will be flying to Hong Kong for the event, he said.

“Many of our private banking clients want us to host a global event for them to meet with their peers, learn from their experience or explore business collaborations,” Ang said in an interview on Monday. “Hong Kong is a natural place to hold a large-scale family office forum in Asia because of its large pool of wealth.”

Hong Kong is a natural place to hold a large-scale family office forum in Asia because of its large pool of wealth,’ Standard Chartered’s Raymond Ang says. Photo: Jonathan Wong

Assets under management in Hong Kong grew 2.1 per cent to HK$31.2 trillion (US$4 trillion) in 2023, while net fund inflows surged 342 per cent to HK$389 billion in the same period, according to government data. Standard Chartered managed US$294 billion of assets globally on behalf of its affluent clients at the end of June.

Financial Secretary Paul Chan Mo-po will deliver a welcome speech at a dinner on Tuesday. Discussions on family succession, investing in different asset classes, globalising family businesses and other topics will follow in a full-day session on Wednesday, according to Ang.