Forget this media gig, I am a definitely in the wrong business. Wealth management is really where it's at. Someone else makes lots of money and I manage it for them, for a huge fee of course. You don't find many better jobs than that and I guess you could say I had an epiphany of sorts this week as I was sitting at a press conference for the UBS Hong Kong Open, high above our polluted city in an auditorium that was part of the sponsor's sprawling offices. Now here is a company which has very generously signed on to be the title sponsor of the Hong Kong Open for four years and has already gone about raising the purse money and will continue to do so. They have every intention of making this an event, as opposed to a tournament. They run a top-drawer hospitality centre, seem rather accommodating and have a charming and genuine regional chief executive in Kathryn Shih, who debunks the notion that big shots in Swiss private banks have to be boring and inaccessible. And they also have US$1.32 trillion in assets under management. That's right, UBS could buy South America if it wanted to and still have enough coin left over to scoop up Africa. But that would be a bad investment and you don't become the biggest private bank in the world by making bad investments. You become the biggest private bank in the world by spending other people's money very wisely and this past week I saw first-hand how this works. Because the UBS Hong Kong Open has been deemed a 'major event' on our sporting calendar, it qualifies for funding from the government's Major Sports Event Committee, which was set up in October 2003 to advise the government on initiatives for the promotion of major sports events in Hong Kong. As an 'M Mark event', the Open received HK$3 million last year, HK$2 million this year and will get HK$1 million in 2008. Among the criteria to qualify for an 'M Mark Event' is that it will bring people to Hong Kong and, presumably, fill up the hotel rooms, as well as dining and drinking establishments, which makes sense in the case of the Hong Kong Sevens. And there is nothing wrong with the government throwing some money into the pot here to help these events, considering how readily they waste our money on far less noble pursuits. This funding is also crucial because the hackneyed government public relations folk insist on dubbing Hong Kong the 'Events Capital of Asia'. But what that HK$2 million gets you is a golf tournament, not an event. Along with defending champion Colin Montgomerie, it was announced that two-time US Open champion Retief Goosen of South Africa would also be playing. Goosen is a great golfer, but I am fairly certain few people around the region will jump on a plane to watch him play. They might not even jump on a train. There is only one golfer who turns a tournament into an event and that is Tiger Woods. When asked when we would see Tiger play for the first time in Hong Kong, both Shih and Hyun Kyung Sup, president of the Hong Kong Golf Association, said they would love to see him. 'But we would need the help of the Hong Kong government, UBS and the South China Morning Post to make it happen,' Hyun said to a round of laughter. Well, OK, allow me to help out on behalf of the SCMP. Hey Tiger, you call yourself a champion? Please, 12 majors or not, it all means nothing because you still haven't played in Hong Kong, the Events Capital of Asia. Yeah, I know you're teeing it up in that backwater Shanghai the week before. But you keep hanging around the 'B' circuit Tiger, and you'll never amount to much. OK, Mr Hyun, we've done our part. Now, how about the government, and more importantly how about UBS? A large part of the reason UBS hosts this tournament is to entertain its clients, who are 'high net-worth individuals' (HNWIs). These HNWIs usually like to watch golf and are particularly keen on hacking their way around the course during the pro-am. How many of these HNWIs would like to tell their friends they played a round, or even a hole or two, with Tiger Woods? I would think, more than a few. Talk about the ultimate perk in an industry that is heavy on perks. If UBS can get the Hong Kong government to help accommodate that, then more power to them. But when you are sitting on US$1.32 trillion, if you want to make something happen, you can certainly do it. Still, there is no shame in holding a golf tournament without Tiger and the Hong Kong Open has a much richer history then the one being held a week earlier in Shanghai. But this one will be a tournament, that one will be an event.