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Private banking

Private banking
Latest news and features on private banking.
Hong Kong has nearly 18,300 ultra-high-net-worth individuals, defined as those with net assets exceeding US$30 million. Photo: Karma Lo
Millionaires, billionaires and trillionaires

What’s powering the rapid rise of Hong Kong’s ultra-wealthy class?

The city’s ultra-wealthy population jumped by more than 26 per cent in 2025 – roughly one super-rich individual for every 412 residents.

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Wealth management

Why Singapore wealth-tech firms pick Hong Kong as their first overseas market

Banking & finance

Gold, cruises and Dior: Hong Kong lenders aim to entice mainland China visitors

Family offices

How the Middle East war is boosting family offices, private banking in Hong Kong

Conflict prompts rich investors to diversify, boosting Hong Kong’s role as a hub for family offices and private banking.

Hong Kong was the world’s top initial public offering market in the first quarter, after reclaiming the title last year for the first time since 2019. Photo: Dickson Lee
Banking & finance

Exclusive | Turkish private bank plans Hong Kong entry amid Middle East tensions: sources

Turkiye Is Bankasi eyes corporate-focused Hong Kong branch, citing the city’s hub role, to complete its China coverage, sources say.

France

France raids bank in probe of diplomat over Epstein links

Investigations follow revelations published in the Epstein files by the US Justice Department.

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Banking & finance

Asian private equity values cash flow as fundraising falls to 12-year low

Advanced manufacturing and healthcare attract more attention at the expense of technology, media and telecommunications, Bain & Co says.

An employee works on a robot production line at Inovance Group in Jiangning District of Nanjing, in east China’s Jiangsu province, on March 17, 2026. Photo: Xinhua
Banking & finance

Deutsche Bank bets on Hong Kong boom as Asian billionaires look beyond US assets

Hong Kong is becoming a focal point for Asian billionaires seeking to pivot away from US exposure, Deutsche Bank’s private bank says.

Banking & finance

Standard Chartered’s 2025 profit jumps 16% buoyed by wealth management growth

The London-based bank’s underlying pre-tax profit stood at US$7.9 billion last year, versus a gain of US$6.8 billion in 2024.

Hong Kong property

Credit Agricole renews Pacific Place lease, reaffirming commitment to Hong Kong

French banking giant, a long-time Swire Properties tenant, adds to wave of European firms boosting their presence in Hong Kong.

The commitments from foreign firms are helping lift sentiment in Hong Kong’s office market. Photo: Handout
Wealth management

Hong Kong roars ahead as top wealth hub, overtaking Singapore

Nearly 45 per cent of top global private banks say their affluent clients prefer Hong Kong over other wealth management centres: PWMA report.

Hong Kong is firmly back on its growth trajectory, says Amy Lo. Photo: Edmond So
Banking & finance

HSBC opens first Middle East wealth hub in Dubai to tap booming UAE market

The investment in the 24,000 sq ft wealth hub is the bank’s largest in the last 20 years in the premier banking segment, HSBC UAE CEO says.

Wealth management

Wealthy Asians turn to secondary private equity amid uncertainties

Rich individuals betting on bargains and cash flow are a new force in the US$210 billion market, fund managers say.

Banking & finance

HSBC’s Swiss bank said to exit 1,000 Mideast clients amid revamp

Move seeks to reduce exposure to people deemed high-risk, many with more than US$100 million in assets, sources say.

A file photo shows the logo of HSBC Private Bank in Geneva, Switzerland. Photo: AFP
Wealth management

Exclusive | Goldman Sachs highlights legacy planning amid huge generational wealth transfer

For family-owned firms in Asia-Pacific, legacy planning is crucial to ensure business sustainability, US bank’s Carra Cote-Ackah says.

Goldman Sachs’ head of philanthropy engagement Carra Cote-Ackah said the US investment bank aimed to provide the best resources to clients in Asia to deal with legacy planning. Photo: Jonathan Wong
Wealth management

Hong Kong’s booming wealth sector to lead hiring and office expansion, HKMA says

Major private banks managed 14 per cent more assets in the first half and hired over 400 bankers in the last two years, HKMA’s Eddie Yue says.

Banking & finance

Exclusive | DBS Hong Kong hiring wealth managers as investors’ risk appetite grows

The subsidiary of the Singapore bank plans to hire 100 bankers and open a new wealth-management centre.

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Wealth management

Wealthy investors see ‘time to buy’ Hong Kong stocks: Standard Chartered

Affluent clients have diversified their portfolios and shifted to liquid assets such as stocks and bonds amid market volatilities.

Wealthy clients at Standard Chartered have shaken off concerns about market volatility to invest in Hong Kong and mainland Chinese stocks, according to a senior executive. Photo: AP
Banking & finance

OCBC plans to stay the course in Hong Kong, hire talent despite trade war

OCBC has no intention to change its planned US$192 million investment in Hong Kong and Macau, CEO Helen Wong says.

Family offices

UAE family firm plans stronger cooperation with Hong Kong: Al Nasser executive

To help Hong Kong companies in the UAE, Al Nasser says it would offer support including regulatory guidance and market insights.

Banking & finance

HSBC bets big on Hong Kong to tap Asia’s wealth-management boom: Elhedery

HSBC’s customers base increased to 6.2 million last year from 5.4 million, showing the importance of the city, Elhedery says.

Georges Elhedery, group CEO of HSBC, speaks at the bank’s Global Investment Summit last week. Photo: Handout
Banking & finance

Exclusive | Hong Kong key to StanChart’s US$200 billion new money target: CEO Winters

Bank is developing over 200 use cases for AI, including fraud detection and prevention, anti-money-laundering screening and new products.

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Standard Chartered CEO Bill Winters, at SCMP office in Causeway Bay on 17 March 2025. Photo: Jonathan Wong
Banking & finance

HSBC cutting 900 staff at China digital wealth unit Pinnacle, sources say

Without directly addressing staffing, a spokesperson for the lender says wealth management in China remains a ‘priority’.

Banking & finance

Asian investors play big role in megafund focused on secondary PE market

Investors are paying more attention to secondary PE market amid global volatility and liquidity crunches.

Banking & finance

Hong Kong gets a boost as 3 global hedge funds open offices, recruit staff

Hudson Bay Capital, Sona Asset Management and Centiva Capital are setting up shop in the city, according to sources.

Hong Kong is rolling out the red carpet for financial firms to set up offices in the city. Photo: Nora Tam
Vietnam

Asian Angle | Vietnam’s private banking sector has a ‘chronic disease’. Can it be treated?

Truong My Lan’s death sentence serves as a warning, but Vietnam needs structural reforms to address the sector’s vulnerabilities.

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Vietnamese property tycoon Truong My Lan attends her trial at the People’s High Court of Ho Chi Minh City, Vietnam, on December 3. Photo: EPA-EFE
Family offices

Bankers say new tax concessions to boost Hong Kong’s status as family office hub

UBS, JPMorgan and BNP Paribas among key players seeking to attract family offices.

Banking & finance

Hong Kong employers seek more relationship managers and data analysts next year

Human resource professionals also say customer due diligence officers are in demand.

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