Hong Kong
Asia’s wealth managers turn to local markets for new hires
Wealth management firms in Asia are ramping up domestic recruitment due to rising demand by Asian clients for advice from managers with local knowledge, language skills and cultural understanding.
Hong Kong fund sales plunge by 15%
Sales of collective investment schemes in Hong Kong dropped by 15% from HK$65bn ($8.4bn, €7.9bn, £6.65bn) to HK$55bn during the period April 2015-March 2016, according to the SFC’s yearly survey.
Hong Kong regulator ramps up disciplinary action
Disciplinary action taken by Hong Kong’s Securities and Futures Commission (SFC) kicked up a gear during 1H16, rising 66.7% from last year.
Rothschild exits Hong Kong amid Asian private bank closures
The exodus of private banks from the Asian region continues as Edmond de Rothschild (Suisse) announces that it plans to close its Hong Kong branch.
UK and Hong Kong regulators agree fintech cooperation
The Hong Kong Monetary Authority (HKMA) and the UK’s Financial Conduct Authority (FCA) are to “foster collaboration between the two regulatory authorities in promoting financial innovation”.