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In comparison to ten years ago; What has changed in private wealth management in Hong Kong? What has not changed? - Kees Stoute

Kees Stoute of EFG Bank

Mar 19, 2019

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1. In comparison to ten years ago; What has changed in private wealth management in Hong Kong? What has not changed?

Video transcript

1. In comparison to ten years ago; What has changed in private wealth management in Hong Kong? What has not changed?

It's quite interesting, in my view. In a way, not much has changed. What you can sense is that there's a tremendous change process going on. So, what I mean is by not much has changed, is we still have very much, a bit too much maybe, a focus on selling products to high net worth individuals. Whereas going forward, I see that the industry's evolving into, let's say if I do share a standard direction, which means that the quality and the level of services provided to customers in general is increasing. Accordingly, in that sense, I think there's a positive change going on at the moment. But that is a process that still takes some time.