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The Blackstone Group headquarters in New York City, pictured on January 18, 2023. Photo: Reuters

Blackstone to train Hong Kong wealth managers as private assets gain favour

Alternative asset manager launches Blackstone University programme along with Private Wealth Management Association.

Opinion | How tech firms began to eat banks’ lunch

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Exclusive | China’s ‘long-term growth story’ draws European family offices to Hong Kong

Insiders say running a Hong Kong family office is a delicate balancing act

‘Emotion stays away from the boardroom. That’s critical,’ says Mahesh Harilela.

Mahesh Harilela on Friday. Photo: SCMP

Hong Kong has to work harder to maintain family office hub status: official

Hong Kong is set to surpass Switzerland as the top cross-border wealth management hub by 2027-28, but must stay competitive, says Joseph Chan.

DBS posts 300% surge in semi-liquid fund sales in Greater China

Chinese private-banking clients have shifted away from equity-focused investments and increased their exposure to the US and Europe, according to DBS.

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More ultra-rich Chinese borrow against stocks amid liquidity crunch

With Fed easing imminent, ‘clients are once again comfortable using their stocks as collateral for project funding’, HSBC executive says.

A view of Hong Kong’s West Kowloon Cultural District, and Central (foreground), pictured from The Peak on July 17, 2024. Photo: May Tse

HSBC’s new CEO shakes up management with focus on digital and wealth

Georges Elhedery, who starts on Monday, creates a group-level information officer role and names a new CEO for global wealth and personal banking.

Asia wealth firms eye doubling of assets to US$260 trillion in 3 years

Asia wealth management firms have ambitions to double assets under management to almost US$260 trillion by 2026 from last year’s levels, according to a report by consulting firm Accenture.

Deutsche Bank looks to Asia-Pacific wealth management to drive core growth

The German lender wants the region to contribute at least 15 per cent of its global revenue in the next two to three years as it hires senior bankers for its investment advisory, wealth management and private bank in the region, says CEO.

Deutsche Bank operates in 15 markets in Asia-Pacific, including Hong Kong and mainland China. Photo: AFP

HSBC targets loans against private assets after acquiring SVB’s UK unit

HSBC sees opportunities to lend against wealthy clients’ private assets, as it leverages its balance sheet strength to finance this fast-growing market.

A tram passes by the HSBC Building in Central. Photo: Jelly Tse

OCBC investing US$192m in Hong Kong, Macau to support business growth

The Singaporean lender’s digital banking capability will increase substantially and lead to greater use of AI and machine learning in its products and services, CEO Helen Wong says.

China’s Fosun International sells German private bank HAL to ABN Amro

The company, one of China’s largest private-sector conglomerates, aims to cut its debts by 10 billion yuan (US$1.38 billion) annually in the next two to three years.

Asian Investment Conference: first UBS-hosted edition kicks off in Hong Kong

Former US secretary of state John Kerry and Thailand’s prime minister Srettha Thavisin are among the speakers and 3,000 attendees as UBS continues the flagship Hong Kong conference started 27 years ago by Credit Suisse.

Thailand’s prime minister Srettha Thavisin gives a thumbs-up during a news conference at government house in Bangkok, Thailand, on April 10, 2024. Photo: AP

HSBC’s Silicon Valley Bank UK acquisition raises Hong Kong lender’s tech profile

HSBC arranged a three-day tailored programme in California last week for its Asian private bank clients to meet Silicon Valley start-ups and venture capitalists.

HSBC Holdings, which bought SVB for £1, has used the acquisition to raise its tech profile and its wealth management business. Photo: EPA-EFE

Exclusive | Hong Kong has succeeded in attracting family offices: JPMorgan Private Bank

Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year, banker says.

Bank of Singapore goes on hiring spree as it bets on ‘bullish Hong Kong’

The private bank has increased its headcount, mainly relationship managers and senior bankers, by 15 per cent this year. It sees Hong Kong, Singapore and Dubai as stepping stones to expand its business.

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UBS weighs bonus for investment bankers who refer rich clients

UBS may start rewarding its bankers for referring clients to the firm’s wealth management business, in a first for the Zurich-based lender

A company banner outside the UBS Group AG annual general meeting (AGM) at St. Jakobshalle in Basel, Switzerland, on Wednesday, April 24, 2024. Photo: Bloomberg

Exclusive | Chinese stocks are ‘cheap’ and ‘reasonably attractive’: EFG Asset Management

Swiss financial firm EFG has increased its investment in Chinese and other non-Japan Asian stocks, on expectations of steady growth in the region and driven by the belief the worst was over for stocks in China.

HSBC sees growth in loans to ultra-rich backed by art, jets, other assets

The bank has ‘quite an active pipeline’ of loans based on such collateral owned by ultra-high-net-worth individuals, who are often asset-rich but liquidity-constrained, private banker says.

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Asia-Pacific investors eye private assets despite inflation, high borrowing costs: State Street

High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.

An underconstruction residential building in Shenzhen. About 64 per cent of respondents said they expected to grow their holdings in real estate over the medium term, State Street says. Photo: Bloomberg

US-based Episode Six is banking on Hong Kong demand for virtual payments, SME lending

Episode Six, or E6, a global provider of payment processing and digital ledger infrastructure for banks and financial institutions, plans to expand its footprint in Hong Kong this year.

Hong Kong want to see more innovative working capital solutions being deployed for SMEs, and E6 will answer this call by launching a new product for the sector in the second half of 2024. Photo: Dickson Lee

Opinion | As Dubai prince saga shows, Hong Kong’s Middle East campaign needs work

Hong Kong cannot hope to successfully engage with the Middle East if it does not thoroughly understand its economy, culture and politics.

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US-China rivalry is ‘biggest uncertainty’ for Chinese business executives

Geopolitics is the biggest uncertainty and foreign interest in Chinese assets will depend on the direction of Beijing’s next set of policies, according to executives at the Harvard College China Forum.

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L’Occitane halted in Hong Kong as Blackstone prepares to fund privatisation bid

L’Occitane’s billionaire owner Reinold Geiger and Blackstone are nearing a deal to take the US$5.6 billion skincare company private, people familiar said. The stock is halted in Hong Kong pending an announcement.

Cosmetic products displayed in the window of a L’Occitane store in Paris in February 2024. Photo: Reuters

Liechtenstein royal family firm says private equity has ‘good future’ in China

LGT Group, the world’s largest royal family-owned private banking and asset management group, sees private equity continuing to be attractive to high-net-worth clients, especially in China.

Prince Maximilian, the chairman and CEO of LGT Group, during the Milken Institute Global Investors’ Symposium in Hong Kong last week. Photo: Bloomberg

With new regulations and mandates, is the party over for China’s finance sector?

China’s finance sector was once freewheeling, but new regulations and mandates from officials suggest banks’ new role looks beyond simple profit-seeking.

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Exclusive | Hong Kong’s family office hub drive augurs well for private banking: Citigroup

Hong Kong’s ambitions as a wealth management and family office hub for Asia, offers significant private banking opportunities, top executives at Citigroup say.

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Private banking
Latest news and features on private banking.
last updated:
9 September, 2024
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