Gladstone Global Advisory plans to increase its wealth management operations in Asia and Australia, reports our sister publication, International Adviser.
The company is looking to have a focus on the hubs of Kuala Lumpur, Singapore, and Sydney alongside its head offices in Hong Kong.
Hector Douglas, co-head of Gladstone’s global finance group, said in a press release: “Around 50% of the firm’s wealth management clients outside of Europe and the UK, mainly from emerging markets, and the firm sees growth coming out of all of those areas.
“The reason we think the wealth management business is going to be faster growing than financial services overall is the growth of wealth coming from emerging market countries.”
Gladstone already has a capital markets presence in Singapore, and it is building up its wealth management business there to serve the growing number of mainland Chinese investors using it as a financial centre to expand their investments overseas.
The company has offices in Hong Kong, Switzerland, Canada, Malaysia and UK.