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Wealth management

Wealth management
Latest news and features on wealth management, with a particular focus on Hong Kong, mainland China and Asia.
last updated:
2 October, 2024
Private wealth managers are on a hiring spree in Hong Kong to cater to wealthy mainland Chinese clients. Photo: Sam Tsang
Banking & finance

Chinese money fuels hiring spree among private banks in Hong Kong

Wealth managers like UBS, Bank of Singapore and Julius Baer are expanding teams to cater to surging mainland Chinese money.

HKEX

HKEX launches fund platform to boost Hong Kong’s appeal as wealth hub

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India

Surging wealth of India’s billionaires raises concerns about rising inequality

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Banking & finance

Mainland Chinese investors unimpressed with Wealth Management Connect expansion

Restrictive marketing rules and stringent eligibility requirements will continue to deter wealthy Chinese from the scheme, analysts say.

An aerial photo taken on November 25, 2023 shows a night view of the Zhujiang New Town in Guangzhou, in south China’s Guangdong Province. Photo: Xinhua
Banking & finance

StanChart to hire more wealth managers in Hong Kong, Singapore by 2028

The UK lender is banking on winning new clients with more than US$10 million of assets in target markets.

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Banking & finance

Hongkongers break savings record for second year amid shaky economy

Average monthly savings increased by 9 per cent to US$1,256 this year, Deposit Protection Board survey finds.

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Banking & finance

Singapore, Hong Kong among top picks in Asia for investment: HSBC

Singapore is the top destination for wealthy entrepreneurs to relocate, while Hong Kong fails to make the top 10.

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Pedestrians walk along the promenade near the financial district in Singapore on October 2024. Photo: AFP
China

Hong Kong’s wealth sector thrives as political uncertainty, geopolitics swirl

The Capital Investment Entrant Scheme, launched in March, has brought in more than HK$20 billion from 670 applications, Paul Chan says.

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Banking & finance

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.

Hong Kong economy

Hong Kong eyes rich Europeans with London, Paris, Milan on family office agenda

Top InvestHK official sets off on week-long trip to Europe to meet family office representatives and speak at finance forum.

Hong Kong has been keen to attract family offices of high-net-worth people in recent years. Photo: Dickson Lee
Family offices

Hong Kong’s family business event wraps up with talk on US-China ties

The second day of the by-invitation event kicked off with a discussion about opportunities in Asean with Malaysia at the helm.

Pre-conference dinner of the 2024 Family Business Summit at the Four Seasons Hotel on November 15, 2024. Photo: Jonathan Wong.
Insurance

Exclusive | Manulife on track to reach 50% Asia earnings target by 2027

Asia was the largest profit contributor to Canadian insurer in the third quarter, with 44 per cent of the group’s earnings coming from the region.

Family offices

2024 FBS Summit: Hong Kong event gathers family business owners

More than 100 business owners gathered at the closed-door, principals-only 2024 Family Business Summit in Hong Kong over the weekend.

Banking & finance

HSBC job losses to begin in weeks amid lender’s sweeping overhaul

The head of HSBC Holdings’ new global wholesale banking unit said the lender aims to wrap up its restructuring ‘very quickly’.

People pass an HSBC branch in Mong Kok on October 22, 2024. Photo: Nora Tam
Hong Kong economy

Opinion | Hongkongers should support John Lee’s determination to improve things

The city’s leader has backed his promise to improve the city’s competitiveness and livelihoods with policies to protect prosperity and stability.

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Chief Executive John Lee Ka-chiu holds up a copy of the latest policy address during a press conference at the government’s headquarters in Admiralty on October 15. Lee deliver his third annual policy address on October 16. Photo: Eugene Lee
Hong Kong economy

Opinion | As Hong Kong strategises for success, it should celebrate its uniqueness

Being part of ‘one country’ bestows market access and strategic heft but it is the distinctions between the ‘two systems’ that make us competitive.

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Family offices

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

Wealthy European families approve of Hong Kong’s family office-friendly policies, says wealth-management CEO of French bank BNP Paribas.

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Hong Kong economy

Editorial | Speed of essence in Hong Kong push to be gold, commodities hub

Chief Executive John Lee Ka-chiu has set out several measures aimed at consolidating Hong Kong’s position as an international financial centre.

Photo: Shutterstock
Wealth Report

Singapore’s Endowus brings AI-based investing to Hong Kong

Hong Kong head Steffanie Yuen worked at Ant Group and Value Partners before meeting Endowus founders Gregory Van and Samuel Rhee.

Wealth Report

Why Hong Kong family offices add philanthropy to their investment portfolios

The Doing Good Index 2024 showed Hong Kong family offices lagging behind the Asian average – Kithmina Hewage at the Centre for Asian Philanthropy and Society and Jason Fong at InvestHK discuss the issue.

Wealth Report

Private credit fundraising surges in Asia, with Hong Kong leading the charge

Lending from third-party sources is popular in many markets, and now the trend is coming to the region, with Hong Kong leading the charge – HSBC and Baker McKenzie weigh in.

Experts say there is plenty of scope for growth in private credit fundraising in Asia-Pacific, with the market surging in recent years and Hong Kong leading the charge. Photo: Shutterstock
Wealth Report

Keeping it in the family: inside Hong Kong’s booming family office sector

Experts at Deloitte, InvestHK, PwC, accounting firm EY and law firm A&O Shearman on the challenges and opportunities facing single family and multifamily offices.

Family offices are thriving in Hong Kong as government measures and financial houses work with high-net-worth clients seeking to build their wealth. Photo: Shutterstock
Philanthropy

Opinion | How trust is redefining philanthropy in Asia

As Asian philanthropic organisations adopt trust-based practices, focusing on three key areas can help them provide a road map for others.

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Middle East

Exclusive | Hong Kong market rally ideal for fund managers to tap Middle East, Southeast Asia

With rising turnover on the Hong Kong stock exchange, the timing is right for fund managers to go out to explore new business opportunities, Sam Yu of HKIFA says.

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Family offices

Government teams with Bloomberg to promote city as family office hub

The Hong Kong government and Bloomberg will stage events related to family offices.

Hong Kong from above. Photo: SCMP/Sun Yeung
Banking & finance

Affluent users choose cards for perks like cashback and air miles: Mastercard

Affluent spenders are looking at a number of ways to construct a ‘perfect wallet,’ Mastercard says.

Mastercard says Asia-Pacific consumers carefully consider how payment decisions can earn them points, rewards, and discounts. Photo: Shutterstock
Interest rates

HSBC sees 6 US rate cuts until June in boon for Hong Kong’s economy

Lower rates will benefit the city’s economic recovery, but there has been no immediate increase in demand for loans, HSBC Hong Kong CEO Luanne Lim says.

ETFs

Middle Eastern investors set to access Hong Kong shares with 2 ETFs

The SFC has noticed that international investors, who previously were underweight on Hong Kong stocks, have now rushed back into the local market.

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