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Private banking

Private banking
Latest news and features on private banking.
Standard Chartered Bank is one of Hong Kong’s three note-issuing banks. Photo: Jonathan Wong
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

Wealth management

Hong Kong roars ahead as top wealth hub, overtaking Singapore

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.

HSBC has opened its first Middle East wealth centre in the UAE, spanning some 24,400 sq ft. Photo: Handout
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.

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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.

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.

People pass an OCBC bank signage in Singapore. Photo: Reuters
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.

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’.

A sign outside of an HSBC bank in London on February 19, 2025. Photo: EPA-EFE
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.

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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.

Banking & finance

Chinese money fuels hiring spree among private banks in Hong Kong

Wealth managers like UBS, Bank of Singapore and Julius Baer are expanding teams to cater to surging mainland Chinese money.

Private wealth managers are on a hiring spree in Hong Kong to cater to wealthy mainland Chinese clients. Photo: Sam Tsang
Mergers & Acquisitions

China’s 2025 M&As may rise 15% as deals bottom out, UBS says

UBS says China M&A deal volume fell 10 per cent in November from a year earlier to US$297 billion.

Samson Lambert Lo of UBS. Photo: Aileen Chuang
Wealth management

Blackstone to train Hong Kong wealth managers as private assets gain favour

Alternative asset manager launches Blackstone University programme along with Private Wealth Management Association.

Banking & finance

Opinion | How tech firms began to eat banks’ lunch

Technology companies are steadily moving into territory once dominated by banks, and they won’t stop at payments and lending platforms.

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Family offices

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.

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
Family offices

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

‘Emotion stays away from the boardroom. That’s critical,’ says Mahesh Harilela.

Mahesh Harilela on Friday. Photo: SCMP
Family offices

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

Hong Kong is set to surpass Switzerland as the top cross-border wealth management hub by 2027-28, but must stay competitive, says Joseph Chan.

Banking & finance

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.

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