DBS: Wealth Management Connect is a win-win for all parties

[Sponsored Article]

As part of the effort to further integrate the economies of the Greater Bay Area, or GBA, the launch of the Wealth Management Connect will provide a boost for GBA residents to access a range of unique investment opportunities.

It is the first cross-boundary investment scheme in the region, which will allow residents of Hong Kong, Macau and major Guangdong cities to invest in wealth management products distributed by banks in the bay area. The launch of the Wealth Management Connect scheme is important for the region’s development to encourage capital flows and investments among the 11 cities and turn them into an economic powerhouse.

Ajay Mathur (毛安杰), Managing Director and Head of Consumer Banking Group & Wealth Management at DBS Bank Hong Kong, is enthusiastic about this new initiative and he thinks it is going to be a win-win for all parties.

The region’s fast growth in wealth underpins the potential

China has seen the fastest growth in wealth among its global peers. The GBA, in particular, is one of the wealthiest areas within the country. It has a population of around 72 million, and a GDP equivalent to USD 1.7 trillion. The need for financial services is on the rise, as reflected in the strong growth of China’s wealth management industry which is expanding at an annual rate of 6-8%. The total assets under management of GBA alone has already passed the USD 1 trillion mark.