TOPIC

Private banking

Hong Kong Island’s central business district, photographed from the Hong Kong Monetary Authority headquarters in the International Finance Centre on October 18, 2024. Photo: Jelly Tse

Exclusive | China’s ‘long-term growth story’ draws European family offices to Hong Kong

Wealthy European families approve of Hong Kong’s family office-friendly policies, says wealth-management CEO of French bank BNP Paribas.

Insiders say running a Hong Kong family office is a delicate balancing act

Hong Kong has to work harder to maintain family office hub status: official

DBS posts 300% surge in semi-liquid fund sales in Greater China

Chinese private-banking clients have shifted away from equity-focused investments and increased their exposure to the US and Europe, according to DBS.

DBS automated teller machines in Singapore. Photo: Reuters

More ultra-rich Chinese borrow against stocks amid liquidity crunch

With Fed easing imminent, ‘clients are once again comfortable using their stocks as collateral for project funding’, HSBC executive says.

HSBC’s new CEO shakes up management with focus on digital and wealth

Georges Elhedery, who starts on Monday, creates a group-level information officer role and names a new CEO for global wealth and personal banking.

Advertisement
Advertisement

Asia wealth firms eye doubling of assets to US$260 trillion in 3 years

Asia wealth management firms have ambitions to double assets under management to almost US$260 trillion by 2026 from last year’s levels, according to a report by consulting firm Accenture.

Asia wealth management firms have ambitions to double assets under management to almost US$260 trillion by 2026 from last year’s levels, according an Accenture report. Photo: Shutterstock

Deutsche Bank looks to Asia-Pacific wealth management to drive core growth

The German lender wants the region to contribute at least 15 per cent of its global revenue in the next two to three years as it hires senior bankers for its investment advisory, wealth management and private bank in the region, says CEO.

HSBC targets loans against private assets after acquiring SVB’s UK unit

HSBC sees opportunities to lend against wealthy clients’ private assets, as it leverages its balance sheet strength to finance this fast-growing market.

OCBC investing US$192m in Hong Kong, Macau to support business growth

The Singaporean lender’s digital banking capability will increase substantially and lead to greater use of AI and machine learning in its products and services, CEO Helen Wong says.

Helen Wong, group CEO of OCBC, says the bank is investing in technology to support its growth plans in Hong Kong and Macau. Photo: Sun Yeung

China’s Fosun International sells German private bank HAL to ABN Amro

The company, one of China’s largest private-sector conglomerates, aims to cut its debts by 10 billion yuan (US$1.38 billion) annually in the next two to three years.

German private bank Hauck & Aufhauser Lampe (HAL) in Munich. The acquisition will increase ABN Amro’s assets by €26 billion (US$28 billion). Photo: Handout

Asian Investment Conference: first UBS-hosted edition kicks off in Hong Kong

Former US secretary of state John Kerry and Thailand’s prime minister Srettha Thavisin are among the speakers and 3,000 attendees as UBS continues the flagship Hong Kong conference started 27 years ago by Credit Suisse.

HSBC’s Silicon Valley Bank UK acquisition raises Hong Kong lender’s tech profile

HSBC arranged a three-day tailored programme in California last week for its Asian private bank clients to meet Silicon Valley start-ups and venture capitalists.

Exclusive | Hong Kong has succeeded in attracting family offices: JPMorgan Private Bank

Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year, banker says.

The Hong Kong government’s measures to entice billionaires to set up family offices is paying off. Photo: Yik Yeung-man

Bank of Singapore goes on hiring spree as it bets on ‘bullish Hong Kong’

The private bank has increased its headcount, mainly relationship managers and senior bankers, by 15 per cent this year. It sees Hong Kong, Singapore and Dubai as stepping stones to expand its business.

videocam
Bank of Singapore CEO Jason Moo says Hong Kong and Dubai will be its two core focus markets other than Singapore. Photo: Jonathan Wong

UBS weighs bonus for investment bankers who refer rich clients

UBS may start rewarding its bankers for referring clients to the firm’s wealth management business, in a first for the Zurich-based lender

Exclusive | Chinese stocks are ‘cheap’ and ‘reasonably attractive’: EFG Asset Management

Swiss financial firm EFG has increased its investment in Chinese and other non-Japan Asian stocks, on expectations of steady growth in the region and driven by the belief the worst was over for stocks in China.

Advertisement
Advertisement

HSBC sees growth in loans to ultra-rich backed by art, jets, other assets

The bank has ‘quite an active pipeline’ of loans based on such collateral owned by ultra-high-net-worth individuals, who are often asset-rich but liquidity-constrained, private banker says.

videocam
A visitor poses for photos with the artwork “Lollipop Bear” by Eguchi Ayane at Art Basel at the Hong Kong Convention and Exhibition Centre in Wan Chai on March 27, 2024. Photo: Eugene Lee

Asia-Pacific investors eye private assets despite inflation, high borrowing costs: State Street

High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.

US-based Episode Six is banking on Hong Kong demand for virtual payments, SME lending

Episode Six, or E6, a global provider of payment processing and digital ledger infrastructure for banks and financial institutions, plans to expand its footprint in Hong Kong this year.

Opinion | As Dubai prince saga shows, Hong Kong’s Middle East campaign needs work

Hong Kong cannot hope to successfully engage with the Middle East if it does not thoroughly understand its economy, culture and politics.

videocam
Sheikh Ali Al Maktoum, who pledged to open a US$500 million family office in Hong Kong, attends a media event at Hang Seng University in Sha Tin on March 26. Photo: Yik Yeung-man

US-China rivalry is ‘biggest uncertainty’ for Chinese business executives

Geopolitics is the biggest uncertainty and foreign interest in Chinese assets will depend on the direction of Beijing’s next set of policies, according to executives at the Harvard College China Forum.

videocam
Geopolitial tensions remain the biggest bugbear for executives doing business in both markets. AP Photo

L’Occitane halted in Hong Kong as Blackstone prepares to fund privatisation bid

L’Occitane’s billionaire owner Reinold Geiger and Blackstone are nearing a deal to take the US$5.6 billion skincare company private, people familiar said. The stock is halted in Hong Kong pending an announcement.

Liechtenstein royal family firm says private equity has ‘good future’ in China

LGT Group, the world’s largest royal family-owned private banking and asset management group, sees private equity continuing to be attractive to high-net-worth clients, especially in China.

With new regulations and mandates, is the party over for China’s finance sector?

China’s finance sector was once freewheeling, but new regulations and mandates from officials suggest banks’ new role looks beyond simple profit-seeking.

videocam
10
Illustration: Henry Wong

Exclusive | Hong Kong’s family office hub drive augurs well for private banking: Citigroup

Hong Kong’s ambitions as a wealth management and family office hub for Asia, offers significant private banking opportunities, top executives at Citigroup say.

General skyline view of high-rise business buildings in Central. Photo: Sun Yeung

HSBC woos Asia’s ultra-rich to set up base in Hong Kong with suite of services

HSBC plans to promote its family office and digital banking services to attract the growing horde of ultra-high-net-worth clients in Asia to its private banking unit.

videocam

Ranks of self-made women multimillionaires swell as barriers fall: Julius Baer

The ratio of ultra-rich women stood at 11 per cent of the global total last year, compared with 6.5 per cent in 2010, as changing attitudes towards women doing business has led to a large number of self-made female multimillionaires, according to a survey by Julius Baer.

Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Private banking
Latest news and features on private banking.
last updated:
9 September, 2024
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement