Private banks boost Hong Kong hiring to woo rich Chinese clients

Shoppers at the Harbour City shopping mall in the Tsim Sha Tsui area of Hong Kong, China, on Sunday, Dec. 15, 2024. Hong Kong revised growth expectations to the lowest end of its previous forecast, showing mounting pressures from weaknesses in exports and consumption. Photographer: Lam Yik/Bloomberg

Hong Kong: Wealth managers are ramping up hiring in Hong Kong to cater to an inflow of mainland Chinese money.

UBS Group AG is adding staff as it looks to double the assets it manages for millionaire clients in Greater China over the next three to five years.