It extends its wealth footprint in the Greater Bay Area where it plans to grow its private banking teams over the next three years.
Majority of eligible investors in Greater Bay Area are interested in investing through the wealth management connect scheme, a recent HSBC survey showed.
68% of firms in the sector said they will benefit from the launch of the scheme.
The Chinese, Hong Kong and Macau financial regulators have agreed supervisory, enforcement and liaison arrangements for the Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Both firms will combine their investment management capabilities to launch a mixed-asset product in Hong Kong.
The top 20 most read Greater China articles of 2019 include a number of business moves and regulatory developments in Hong Kong and China.