Private Banks Boost Hong Kong Hiring to Woo Rich Chinese Clients
- UBS, Bank of Singapore among banks hiring wealth advisers
- Net inflows into HK nearly tripled to $44 billion in 2023
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Wealth managers are ramping up hiring in Hong Kong to cater to an inflow of mainland Chinese money.
UBS Group AG is adding staff as it looks to double the assets it manages for millionaire clients in Greater China over the next three to five years. Bank of Singapore has boosted staff in Hong Kong by 30%, while Julius Baer Group Ltd., a Swiss wealth manager, grew its office space in Hong Kong by 40% last year along with hiring.