Asset Managers in Hong Kong: Increasing Staff in Response to Chinese Capital

Asset managers in Hong Kong are responding to the influx of capital from mainland China by increasing recruitment. This phenomenon has caught the attention of financial service providers in the metropolis and offers them new business opportunities. UBS plans to double its assets under management for millionaires in the Greater China region over the next three to five years and has expanded its staff as part of these ambitions. The Bank of Singapore has also already increased its team in Hong Kong by 30% to meet growing demand. Julius Baer expanded its office space by 40% last year and simultaneously increased its number of employees. These developments illustrate that asset managers in Hong Kong are obviously pursuing a long-term strategy to benefit from the increasing capital flow from the People's Republic.