The bank is now targeting Hong Kong investors with HK$5m.
Bank of East Asia’s wealth management business posted a 6% profit and delivered 24% growth in assets under management for the fiscal year ending December 2017, according to the bank’s recent financial report
Personal wealth is flowing out of China as domestic investors grow increasingly concerned over the markets and economic growth, according to Bank of East Asia.
A former relationship manager at the Bank of East Asia failed to disclose a past criminal conviction, the regulator said.
The low yield environment of the last couple years sent investors flocking to high yield fixed income products, up to the point where we hear about a potential bubble possibly forming, said Alfred Mak, head of investment products and advisory at the Bank of East Asia.
Layers of due diligence procedures now required by regulatory authorities are closing the gap between products available to private and retail clients, said Alfred Mak, head of investment products and advisory at the Bank of East Asia.