What is the asset and wealth management industry like in Hong Kong? In fact, what is
asset and wealth management? They may sound very similar, but in the business world, they are two separate things.
Asset management refers to a company that monitors and manages investments for others, whether they be individuals or entire companies. Equally so, wealth management provides a similar service, but usually a wealth management firm is working with one extremely wealthy client with a focus on consultative service, along with every other single financial product service available. The main difference is that asset management is growth driven, while wealth management is usually about self-preservation. But basics aside, what are these like in Hong Kong?
Asset management in Hong Kongcan be considered very similar to asset management anywhere else in the world. Because of Hong Kong’s unique status as an autonomous region within China, financial sectors have had the chance to westernise and flourish, especially in asset management. In fact, many
asset management jobs in Hong Kong are in branches of global firms like HSBC, Aberdeen International and Schroders. But there are also select firms established in Hong Konglike China Asset Management, Mirae Asset Global Investments, Ping An of China Asset Management, Quam Asset Management and Pictet Hong Kong Asset Management. Whichever choice a client or jobseeker goes with, they can expect the same goal, despite the company’s origin: investments with the intent to grow.
Likewise, wealth management jobs in Hong Kong can be considered very similar to wealth management jobs anywhere else in the world, too. While there are such international wealth management firms in Hong Kong like Morgan Stanley, Goldman Sachs, and Rothschild Wealth Management & Trust, there are also quite a few locally established wealth management firms in Hong Kong. These Hong Kong-specific firms include Hong Kong PuruSaxena Wealth Management, VPBank and even the Bank of China. Again, these firms tend to work with individual clients of extreme wealth. But whatever firm the client chooses, the goal will be to preserve status and wealth for a future of financial security.
How does one find the best place for their asset or wealth management in Hong Kong? Usually a friend or acquaintance can help point them in the right direction as networking is still the best way to get a solid recommendation. The internet is also a great resource, and as many firms’ headquarters are all located near each other off of Connaught Road Central, meeting with the different firms to see what each company offers is a good idea
In the end, whether an individual is looking for
asset manager jobs or a company looking for wealth management, Hong Kong is as safe as place as any to look. It is just as modern as anywhere else in the world, and even provides locally established firms, too.
