Standard Chartered will open one wealth management centre a year over the next five years in Hong Kong as part of its global strategy to grow its wealth business and also tap small and medium-sized enterprises (SMEs) in the Greater Bay Area, according to a senior executive. “We are focused on opening more wealth management…
Feb 2, 2025 Hong Kong is rapidly positioning itself as a preferred hub for the establishment of family offices, attracting interest from affluent families across mainland China and Southeast Asia. According to Dennis Chow, Asia-Pacific chairman of Deloitte, the city’s burgeoning capital market activities, especially more listings from regional companies, enhance its appeal. A significant…
Wealth management and family offices will be a major growth engine for Hong Kong, as many prominent clans in Asia have shown an interest in setting up entities to manage their fortunes, according to Deloitte’s regional head. Dennis Chow Chi-in, Asia-Pacific chairman of the accounting and consulting firm, believes this will mainly be down to…
Fintechs worldwide are launching apps that leverage artificial intelligence to provide wealth management services to high-net-worth individuals. Singapore has a significant concentration of high and ultra-high-net-worth individuals, with investible assets exceeding $1 million and $50 million, respectively. To cater to this niche, firms like U.S.-based fintech Arta Finance have entered the market. In October, Arta…
Hong Kong tycoon Richard Li Tzar-kai is reshuffling his assets again, this time by selling his personal interest in the publisher of Hong Kong Economic Journal (HKEJ) to telecommunications group PCCW for HK$70 million (US$9 million). PCCW, in which Li controls a 31.8 per cent stake, will buy the HKEJ’s publisher Clermont Media from an…
Some Chinese corporate bond yields are on their longest declining streak ever, as government officials prepare to meet to discuss possible stimulus measures for the coming year. The yield for 5-year AA rated corporate yuan bonds has fallen for a record 20 consecutive trading days. Spreads on the notes tightened the most since 2018 last…
French stocks enjoyed a brisk relief rally this week after months of underperformance. But this could turn out to be a blip as France’s political crisis is set to drag on while the country’s stretched public finances will keep long-term investors at bay. In a year when most of the world’s major stock markets handed…
China envisions Hong Kong’s capital markets as a beacon of prosperity, having lifted the city out of social chaos in June 2020. This week, Beijing backed that goal with vocal support at an investment summit attended by CEOs of global banks and money managers. Do global investors share the optimism? The question has never been…
The world’s largest alternative asset manager Blackstone has partnered with a local industry body to launch a certification programme for Hong Kong’s wealth managers, deepening the city’s push to serve as a wealth-management hub amid growing interest in private assets. The company, which has run the Blackstone University programme for 13 years globally, will launch…
Hong Kong’s investment promotion agency has launched a charm offensive tour to Europe, with the aim of attracting high-net-worth individuals to set up family offices in the city. A top InvestHK official, Charles Ng Siong-kwong, set off on Sunday and will visit various major European cities over the coming week, including London, Milan, Lugano and…