Hong Kong’s booming wealth sector to lead hiring and office expansion, HKMA says

The strong growth of Hong Kong’s private banking and wealth management sectors will drive increased hiring and leasing of office space in the coming years, according to the chief executive of Hong Kong Monetary Authority (HKMA).

Major private banks’ assets under management (AUM) in the city rose 14 per cent in the first half of the year compared with the end of December, while they hired more than 400 wealth management experts in the last two years, an increase of 12 per cent, said Eddie Yue Wai-man, without naming them.