China's Uber-Rich Prompt Haitong to Build Hong Kong Private Bank
- Securities firm targeting clients worth $10 million or more
- China is home to more than 1 million millionaires: Capgemini
Duke Du.
Photographer: Kenny Kai/Haitong InternationalThis article is for subscribers only.
Haitong International Securities Group Ltd., a unit of China’s second-largest brokerage, plans to add about 100 jobs in Hong Kong as it seeks to draw more of the nation’s growing ranks of multi-millionaires to its wealth management business.
The firm is focused on strengthening its group of relationship managers specialized in ultra-high net worth clients with at least $10 million, said Duke Du, managing director of retail sales and equity derivatives. The new hires will take place over the next 12 months and boost the number of sales staff in private wealth management to 160, while retail brokerage staff will remain at about 120.