Beijing-based Creditease has set up an overseas wealth management department, the next step in its plan to gain marketshare in overseas Chinese wealth management and eventually list in the US.
US-listed Noah Holdings reported double-digit net revenue growth during the first half, but noted that investors are increasingly moving to the sidelines due to market volatility.
US-listed Noah Holdings is exploring a Singapore wealth management office and has reported a 24% increase in overall profit for the first quarter.
NYSE-listed Chinese wealth manager Jupai has been moving out of bond products for its wealth management clients and has reported a 28% rise in first quarter net profit.
The assets of high net worth investors in Asia-Pacific are expected to reach $40trn by 2025 from about $18.8trn today, according to the Asia-Pacific Wealth Report by Capgemini.
Chinese billionaires are young, self-made entrepreneurs with an increasing interest in investing in social impact, according to a new report from UBS and PWC Hong Kong.
Hong Kong financial company Mason Group Holdings has announced plans to build an offshore wealth management business with at least $3bn in assets through a series of acquisitions.
China’s private wealth seems to be undergoing a shift from self-managed to professional wealth management, according to a survey from Bain & Company.
There is a huge demand for relationship managers to look after high net worth (HNW) clients in Hong Kong and mainland China, a trend which is expected to continue in the coming year.
The number of HNWIs in China grew by a double-digit percentage year-on-year and overseas investments already account for 16% of their invest-able assets, according to a recent whitepaper by CITIC Private Bank and Hurun Report released last week.