The Hong Kong Wealth Management 2017 Report

With more than 185,600 HNWI in Hong Kong with an average wealth of US$4.7 million per person, the competition for their assets has become fierce. Domestic and international banks are the most advanced in the Asia Pacific, leveraging global resources and expertise to ensure that they maintain their HNWIs’ wallet share and
acquire the rising wealth of immigrants from China and Southeast Asia.

This report evaluates Hong Kong’s HNWI behaviors, the changes in Hong Kong wealth management regulations, the competitive landscape, and the various wealth
management products and their demand in the market. The report also thoroughly analyses the playing field for Hong Kong commercial banks, from domestic to foreign.

This report is completed by two surveys: The first survey interviews 100 HNWI throughout Hong Kong to learn their needs, their changes, and how they view wealth management in Hong Kong. The second survey interviews 20 major banks in Hong Kong to learn about emerging trends in wealth management in Hong Kong and the country’s competitive landscape.

The banks that are discussed in this report are the following: HSBC, Bank of China, Hang Seng Bank, Standard Chartered, The Bank of East Asia, ICBC, The Bank of East Asia, ICBC, DBS Bank, Nanyang Commercial Bank, Wing Hang Bank, Citibbank.

Table of contents

1. Executive Summary
2. The Dragon Banker’s methodology
3. HNWI’s Opportunities in Hong Kong for HNWIs
4. The Current State of the Wealth Management Market in Hong Kong
5. Unique Wealth Management Services in Hong Kong
6. Current Insights into the Drivers of Hong Kong HNWIs’ Wealth
7. Note on Regulations Impacting Hong Kong’s Wealth Management Sector
8. The Psychological and Behavior Makeup of Hong Kong HNWIs
9. Market Sizing of Hong Kong’s HNWI
10. Growth Challenges for Banks in Hong Kong’s Wealth Management
Industry
11. Current Competition Amongst Banks for HNWI Clients and SWOT
Analysis
a. HSBC
b. Bank of China
c. Hang Seng Bank
d. Standard Chartered
e. The Bank of East Asia
f. ICBC
g. DBS Bank
h. Nanyang Commercial Bank
i. Wing Hang Bank
j. Citibank
k. China CITIC Bank International
12. Summary and Final Analysis
13. How to leverage The Dragon Banker for IT firms and Financial Institutions

Who should read this report?

• All local banks in Hong Kong who are competing in the wealth management space.
  
• International banks who are involved and competing in Hong Kong's wealth management and private banking space.
  
• Insurance companies that are seeking to gain a deeper understanding of the competitive landscape and opportunities in the Hong Kong market.

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