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Investment Solutions Forum 2019 HK - Exclusive Insights - Stewart Aldcroft

Stewart Aldcroft of CitiTrust

Sep 23, 2019

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1. Is Hong Kong an important wealth management centre in Asia? Will it continue to be?

Video transcript

1. Is Hong Kong an important wealth management centre in Asia? Will it continue to be?

Hong Kong is going to continue to be the leader of wealth management across the Asian region. It's the leader because it has more banks, more private banks, more customers, more wealth than any other single location, outside Japan, within the Asia Pacific region. It is able to use a broader array of products than even Japan can offer, and we have customers coming from across the region, and that includes China, to buy Hong Kong services. Clearly, China's wealth comes down very frequently to Hong Kong and that's a very important part of how Hong Kong will continue to sustain itself. The short-term uncertainty with a lot of the protests and things is just a short-term issue, we hope, and longer term and generally, we need to look three or five years forward, I think we'll see it as a bit of a blip, but not necessarily something that will damage the industry as a whole.