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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.
A view of a Bank of East Asia branch in Central on February 21, 2024. Photo: May Tse
Banking & finance

Bank of East Asia profits rise on robust wealth-management business

First-half net profit jumps 14 per cent to HK$2.41 billion (US$308.6 million), beating analyst expectations.

Insurance

AIA profit rises 12% in first half on mainland visitors’ buying spree

Banking & finance

StanChart aims to convert depositors into investors with digital platform

Family offices

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
Hong Kong Monetary Authority (HKMA)

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.

Family offices

Why are more wealthy mainland companies coming to Hong Kong for mediation?

An increasing number of wealthy mainland families are coming to Hong Kong for mediation services.

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Banking & finance

Standard Chartered second-quarter profit rises 54%

CEO Winters says performance is attributable to focus on ‘cross-border and affluent banking’.

Standard Chartered, one of Hong Kong’s three currency issuers, derives most of its business from Asia. Photo: Nathan Tsui
Insurance

Exclusive | Retirement dreams: Hong Kong boomers eye Greater Bay Area for affordable living

A survey sponsored by BOC Life says 24 per cent of Hongkongers are willing to retire outside the city versus less than 5 per cent 10 years ago.

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Artificial intelligence

Alibaba, Standard Chartered partner to accelerate AI adoption in banking sector

The British multinational bank will leverage AI solutions from Alibaba Cloud to boost operational efficiency and elevate customer experience.

Mandatory Provident Fund (MPF)

Number of MPF millionaires doubles as assets hit record US$178 billion

MPF pension regulator says the number of millionaires in the scheme doubles over the course of five years.

Mandatory Provident Fund Schemes Authority chairwoman Ayesha Macpherson Lau. Photo: Edmond So
IPO

Shareholders of Chinese firms eye Hong Kong for family offices: asset manager

Chairman of Oakwise Capital says wealthy mainland Chinese will continue looking to Hong Kong as a home for their family offices.

Wang Fengyu, founder and chairman of Hong Kong-based Oakwise Capital. Photo: Handout
Family offices

Hong Kong tax tweaks, talent boost would boost art trading, expert says

Hong Kong is a top global auction centre, but tax changes could make it more of a trading hub for wealthy collectors of art and vintage cars.

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Millionaires and billionaires

Explainer | Why family feud at Wahaha is no laughing matter for China’s private businesses

At stake is succession planning at Wahaha, China’s biggest privately owned soft drink bottler with US$7.2 billion of sales in 2022.

Cryptocurrency

ChinaAMC launches first tokenised yuan fund amid Hong Kong stablecoin push

Asset manager’s tokenised financial products are aligned with Hong Kong’s stablecoin framework, ChinaAMC (HK) CEO Tian Gan says.

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ChinaAMC (HK) on Thursday launched the world’s first yuan-denominated tokenised fund. Photo: Shutterstock
Millionaires and billionaires

Wahaha heiress’ inheritance battle puts Chinese family firms in spotlight

Lawsuits raise questions about corporate governance amid pressure from shaky economy and keen competition, analysts say.

Kelly Zong Fuli speaks at a business forum in Hangzhou, in east China’s Zhejiang province, in 2020. Photo: Getty Images
Insurance

Hongkongers show penchant for adding life to years, Manulife says

Hongkongers want to ‘live independently and do what is important’ rather than simply live longer, a survey of 1,000 residents shows.

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SFC

Hong Kong’s asset management industry hits near-record US$4.5 trillion

The city continues to be a top cross-border wealth centre, with non-Hong Kong investors contributing 63 per cent of assets under management.

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Hong Kong property

1 in 388 Hong Kong homeowners has a net worth of more than US$30 million

The density of ultra-wealthy residents and second-home owners in Hong Kong was more than twice that of London.

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A view of high-rise residential and office buildings on Hong Kong Island. Photo: Shutterstock
Family offices

Hong Kong’s ultra rich get the cheapest champagne, priciest lawyers

Hong Kong falls to third place amid dropping property prices, cheap champagne, research says.

Insurance

Retiring AIA chairman Edmund Tse reflects on 64 years with the insurer

Tse presided over the company’s blockbuster IPO and return to mainland China in a career that began in 1961 with a monthly salary of US$76.90.

Singapore

‘Low-key crazy’: Singaporean students vie for campus finance club places

Facing intense competition for banking jobs, students hope membership in these clubs will help differentiate them to potential employers.

Office workers in Singapore’s Central Business District. Photo: EPA-EFE
Banking & finance

HSBC, Manulife, BOC Life expand offerings for Hong Kong retirees

Senior Hongkongers evaluating such investment products should be cautious about non-guaranteed payouts, a broker says.

Elderly Hongkongers rest in a park in Cheung Sha Wan on August 16, 2023. Photo: Jelly Tse
Mandatory Provident Fund (MPF)

MPF achieves third-best interim return amid Hong Kong market rally

Funds investing in Hong Kong and China stocks were the top performers with 18.5 per cent gain, independent research firm said in a report.

United States

Hong Kong investors triple gold holdings in rush to haven asset: HSBC survey

Hong Kong investors allocate 11 per cent of their portfolios to gold and other precious metals, up from 4 per cent a year ago.

HKEX

HKEX’s order-routing service seeks to enhance fund distribution ecosystem

The service, available on HKEX’s fund platform, aims to facilitate interaction between fund distributors and transfer agents with fund companies.

(From left) Chen Mingzhong, executive president of Shenzhen Securities Communication; Tang Rui, executive vice-president of Shenzhen Stock Exchange; Salina Yan, Permanent Secretary for Financial Services and the Treasury (Financial Services); Bonnie Chan Yiting, CEO of HKEX; Trevor Lee, senior director for investment products at Securities and Futures Commission; Richard Leung, group CIO at HKEX; and Glenda So, head of platform and market structure development at HKEX, at the launch ceremony of a new service on the Integrated Fund Platform at the HKEX Connect Hall on Thursday. Photo: Edmond So
Family offices

Hong Kong must raise its game to attract multifamily-office operators, study says

City needs to improve technology, innovation and service quality to further develop as a family-office hub, white paper says.

A view of Central, Hong Kong, on July 13, 2021. Photo: Reuters
Family offices

Family offices shift assets to Hong Kong, China and Europe from US: BNP Paribas

French bank says family offices are shifting assets away from the US thanks to tariffs and other trade tensions.

Wealth Report

How Hong Kong’s market innovations are aiming to enhance the city’s trading environment

Reforms are being introduced to sustain the surge in public offerings that has made the city among the world’s leading IPO venues in the last 6 months.

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