In an interview on Wednesday, Horace Yip Chi-ho said a growing number of wealthy clients wanted to take advantage of the rallies and were interested in alternative investments like hedge funds and private equity.
“We needed to hire more people as we have seen a growing business this year in Asia, particularly in Hong Kong,” Yip said.
He said money had been flowing in from Europe, Southeast Asia and the mainland in recent years and investors were particularly interested in rallies in Japan, the US, Hong Kong and the mainland. He also cited Hong Kong’s recent efforts to lure family offices to the city.
HSBC Holdings, Standard Chartered, UBS, Julius Baer and DBS Bank have all recently said they would expand their wealth-management businesses in Hong Kong in the coming years.
