Hong Kong family-office wooing campaign gathers steam, summit attendance shows
Summit draws 150 attendees as city continues effort to build talent ecosystem and cement status as Asia’s family-office hub
Hong Kong’s pledge to entice family offices to set up operations in the city has seen growing interest, as evident in the scale of the latest summit held by the Hong Kong Academy for Wealth Legacy.
The government-initiated institution charged with strengthening the city as a global family-office hub is hosting a three-day, closed-door summit from Thursday to Saturday, following its inaugural event in May. Around 150 family business and office representatives from around the world gathered at the Conrad Hotel on Friday, more than the 100 attendees at the previous event.
Attendees include Jack Selby, a managing director of the family office of PayPal co-founder Peter Thiel, and young bloods such as Miguel “Migz” Magsaysay, whose family is a well-known political clan in the Philippines, and Kimberly Go, an assistant vice-president at her family’s JSG Group of Companies in the Philippines. The event also drew participants from the United Kingdom, mainland China and Qatar, among others.
“Hong Kong’s strategic location and unique value proposition make it an ideal gateway for family offices looking to capture the opportunities in this part of the world.”
He pointed to the city’s legal and financial systems, its freely convertible currency pegged to the US dollar, and tax breaks provided to family offices as advantages.
