Editorial | Hong Kong marches ahead to becoming a hub for wealth management
- Launch of a new academy to nurture financial talent shows city is serious about attracting family offices from around the globe
The race for investment leadership among financial centres has gained another dimension with Hong Kong’s launch of a new academy to nurture financial talent and cement its claim to be Asia’s hub for wealthy family offices. The launch, which expands the city’s footprint as Asia’s financial hub, followed the inaugural South China Morning Post Family Business Summit, co-organised with Blue Pool Capital, with the support of UBS and Brand Hong Kong.
The Financial Services Development Council says the Hong Kong Academy for Wealth Legacy will cater to family offices, next-generation wealth owners and professionals in the management of private wealth, by “fostering collaboration, networking, knowledge sharing and talent development”.
New World Development chief executive Adrian Cheng Chi-kong has been appointed chairman of the academy. Other industry leaders to join the board include Sino Group’s deputy chairman Daryl Ng Win-kong, and UBS chairman of global wealth management Asia Amy Lo Choi-wan.
Private and professional management of intergenerational wealth tends to reflect the economic time and tide. That had a lot to do with the turnout at the summit, which brought together more than 100 family business owners and managers from Hong Kong, Southeast Asia, Europe, the Middle East and the United States.
They gathered amid a host of investment climate factors, including wars in Ukraine and Gaza, geopolitical tensions and economic doldrums, and ahead of the Apec leaders’ meeting and the crucial summit on the sidelines between the Chinese and US presidents.
