Standard Chartered, one of the three Hong Kong notes publishing banks, will continue to hire additional private bankers and open more new wealth management centers in the city as part of its ambition to win 200 billion dollars of new rich customers in the next five years, according to a senior manager.
“Heritage and wealth management companies have been and continue to be, our twin growth engines in Hong Kong,” said Mary Huen Wai-Yi, CEO of Hong Kong, Greater China and Northern Asia, in a press briefing last week.
Standard Chartered This year will open its sixth City Transfrontal Patrimoine Management Center, she said. The bank currently operates five of these facilities to serve customers with high birth content, especially in the tourist hotspot of Tsim Sha Tsui.
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“We have found that high birth and wealthy customers react positively to these cross-border heritage management centers,” she said. “We have already created such centers in Taiwan and Shanghai in recent years [and] We are considering similar centers in the cities of the Great in the Bay region like Shenzhen and Guangzhou. “”
The bank would continue to hire more experts in wealth, she added, noting that he had already hired a hundred relations managers in Hong Kong last year to serve clients with high strength.
Recruitments were part of the lender’s $ 1.5 billion investment in the wealth management sector over the next five years, Hong Kong being at the center of expansion, said CEO of the Bill Winters group in a press conference on February 21 to announce the annual results.
Standard Charterd hired a hundred relations managers in Hong Kong last year. Photo: Jonathan Wong Alt = Standard Charterd hired a hundred relations managers in Hong Kong last year. Photo: Jonathan Wong>
Robust growth in the services for affluent customers achieved the benefit of 19% Chartered Standard in 2024, which prompted Winters to set an ambitious objective of collecting $ 200 billion in new net funds in the next five years.
Hong Kong is in good place in the bank’s growth plan. Last year, the benefit before tax in the city jumped 24% to a record of 2.3 billion US dollars, representing 34% of the total, making Hong Kong the largest bank market.
This was motivated by a 9% growth in the number of well -off customers in 2024, with new net money from these customers jumping 64%, Huen said.
