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

Kees Stoute, Chief Executive Officer, North Asia at EFG Private Bank discussed what has or has not changed in private wealth management in Hong Kong in comparison to ten years ago.

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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.

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