The Hong Kong government plans to develop the territory into a private banking hub in Asia by working in partnership with the industry.

Date: Feb 10, 2012

Tags: Hong Kong, Education, Regulation, Training

The Hong Kong government plans to develop the territory into a private banking hub in Asia by working in partnership with the industry.

Speaking exclusively at the Hubbis Asian Wealth Management Forum 2012 in Hong Kong yesterday, Julia Leung, Under Secretary for Financial Services and the Treasury for the Government of the Hong Kong Special Administrative Region, outlined the vision to around 200 senior industry professionals from Hong Kong and across Asia.

In particular, Leung revealed three strategic initiatives:

• Branding and increasing recognition of Hong Kong as a wealth management centre – involving a need to better define the business of a private bank
• Benchmarking the competency levels of intermediaries serving private banking clients – and developing guidelines for training and certifying industry professionals
• Fostering the right policy environment – calibrating appropriate code-of-conduct rules which safeguard investors’ interests and which are also in the industry’s own interests in the long-run

Click here for a video of the full speech

Click here for a more in-depth article

Click here to view more details about the forum