Shanghai should strengthen its role as China's principal financial centre for companies expanding internationally, potentially increasing competition with Hong Kong, according to Shanghai Finance Institute vice-president Liu Xiaochun. The Shanghai financial hub proposal argues that growing outbound investment requires broader financial support than a single international centre can provide. Liu acknowledged Hong Kong's established position as a mature global financial hub but

Asia has become the world's dominant centre for wealth creation, now accounting for 58% of the global billionaire population, according to Josh Gardner, chief executive of data consultancy Kung Fu Data. The Asia wealth creation trend highlights the region’s growing influence on global entrepreneurship, investment and family wealth. Gardner said New York remains the world's leading billionaire city, but Shenzhen, Shanghai and Beijing now occupy the next three positions, while

Artificial intelligence is becoming an increasingly important source of investment research, but affluent investors continue to rely on professional advisers when making major financial decisions, according to HSBC Hong Kong. The AI investment advice survey highlights growing adoption of digital tools while reinforcing the enduring value of human expertise. The study, covering nearly 10,000 investors across 10 markets, found that more than three-quarters of Hong Kong responde

The global population of ultra-high-net-worth individuals expanded at its fastest pace in eight years during 2025, driven largely by rapid wealth creation across Asia, according to Altrata’s World Ultra Wealth Report 2026. The ultra-high-net-worth individuals population increased 14.4% to a record 556,850 people worldwide. Combined wealth reached approximately USD63.8tr, including around USD26tr in investable assets. The United States remained the largest UHNW market with 37%

Hong Kong banks should broaden their Hong Kong family office services as a new generation of wealthy Asian entrepreneurs increasingly seeks strategic advice that extends beyond traditional investment management, according to KPMG. The recommendation comes as family offices become more prominent across the region amid rapid wealth creation and growing succession-planning needs. KPMG’s 2026 survey found that 46% of Asian family offices were established within the past five year

Hong Kong’s securities regulator has called on investment firms to strengthen asset manager stewardship practices, arguing that active engagement with investee companies is essential to maintaining the city’s competitiveness as a global wealth-management centre. Securities and Futures Commission chairman Kelvin Wong Tin-yau said stewardship should be regarded as a professional responsibility rather than an optional activity. Wong noted that Hong Kong has overtaken Switzerland

Asian ultra-high-net-worth families are increasingly embracing the family office model as they seek more personalised advice, international expertise and long-term wealth stewardship. According to Ardenwood Advisors founder Flora Dong, the rise of cross-border wealth is driving demand for more sophisticated structures capable of managing complex family and financial affairs. Dong said the trend is particularly evident among globally connected families with assets and business

Nomura Holdings has increased Nomura CEO pay by 36% after Japan’s largest brokerage reported its strongest annual profit on record. Chief executive Kentaro Okuda received compensation of USD10m for the financial year ended March 31, reflecting the company’s improved earnings and market performance. The increase follows a second consecutive year of record net income under Okuda’s leadership, supported by stronger Japanese financial markets and a recovery in deal-making activit

Nearly two-thirds of high-net-worth individuals in Hong Kong and mainland China do not have formal wealth-transfer arrangements in place, despite growing concerns about economic uncertainty and market volatility, according to an HSBC Life survey. The legacy planning challenge is becoming increasingly important as affluent families seek to preserve wealth across generations and navigate a more complex investment environment. The survey found that concerns over future economic

South Korea’s financial regulator is considering measures to reduce market volatility after leveraged semiconductor ETFs contributed to sharp increases in speculative trading activity. Financial Supervisory Service Governor Lee Chan-jin said authorities were reviewing possible stabilisation measures and acknowledged that the recent introduction of the products may have been rushed. The leveraged semiconductor ETFs are linked to shares of Samsung Electronics and SK Hynix, two

Hong Kong Financial Secretary Paul Chan Mo-po said he remains cautiously optimistic about the city’s performance during the second half of the year, citing resilient exports, improving consumer activity and a stable asset market. The Hong Kong economic outlook has strengthened despite ongoing geopolitical uncertainty and concerns surrounding global growth. Chan said second-quarter exports have remained solid, while retail and catering sectors continue to recover. He added tha

Hong Kong graduates are significantly more optimistic about their career prospects than their global peers, with finance emerging as the city’s most attractive and stable sector, according to the CFA Institute’s 2026 Graduate Outlook Survey. The Hong Kong finance careers outlook highlights strong confidence among young professionals entering the workforce. The survey found that 71% of Hong Kong respondents rated their career prospects between eight and 10 out of 10, compared

Hong Kong’s rise to second place in the 2026 World Competitiveness Yearbook underscores the strength of its business environment and reinforces its position as a leading international financial and trading centre, according to the Hong Kong Trade Development Council. The Hong Kong competitiveness ranking reflects continued improvements across key areas that support the city’s role as a gateway between mainland China and global markets. The city ranked first globally for tax p

Three actions any family office can take immediately — without a large budget, a dedicated team, or a multi-year transformation program. Over the past three weeks, this series has made the case that ESG-AI governance is a capital risk issue, that the regulatory and market environment has already shifted, that specific unpriced exposures exist in most private portfolios, and that governance delivers measurable financial value when it is structured correctly. The question that

Mirae Asset Financial Group said its Mirae Asset client assets exceeded USD1tr at the end of May, reflecting strong growth across exchange-traded funds, retirement solutions and global asset-allocation strategies. The achievement marks a significant milestone for one of Asia’s largest financial-services groups. The company reported domestic client assets of approximately USD757.1bn, while overseas assets totalled USD259bn. Mirae Asset Securities accounted for around USD531.3b

Singapore is well positioned to benefit from the region’s expanding asset and wealth-management sector, with Asia-Pacific assets under management projected to reach USD34.5tr by 2030, according to a new PwC report. The Singapore wealth boom is expected to be supported by strong capital inflows, growing private wealth and continued innovation in financial services. PwC forecasts Asia-Pacific assets under management will expand at a compound annual growth rate of 6.8%, outpacin

Around 30 European family offices are considering establishing operations in Hong Kong, according to InvestHK, highlighting growing international interest in the city’s wealth-management ecosystem. The European family offices Hong Kong trend reflects increasing confidence in the city’s role as a gateway to China and wider Asian markets. Jason Fong, InvestHK’s global head of family office, said the European family offices Hong Kong prospects account for approximately 19% of th

Hong Kong-based MCM Partners has launched a dedicated family office business as competition intensifies among regional wealth centres to attract affluent families and entrepreneurs. The MCM family office platform will combine advisory, wealth-management and wealth-planning services under a single offering. MCM announced on LinkedIn that Christophe Page will lead the MCM family office initiative. Page brings around two decades of experience across private banking, alternative

Mirae Asset Securities has apologised after failing to secure an allocation of SpaceX shares despite collecting substantial investor orders for the offering. The Mirae Asset SpaceX IPO controversy has prompted regulatory scrutiny and raised questions about investor disclosures and allocation processes. According to Reuters, the brokerage gathered approximately USD500m in orders from South Korean investors but did not receive an allocation from the US lead underwriter, despite

Indonesia could attract as much as USD500bn in assets by establishing a competitive family office ecosystem, according to National Economic Council chairman Luhut Binsar Pandjaitan. The Indonesia family office market initiative forms part of wider efforts to position the country as a major wealth-management destination within Southeast Asia. Speaking ahead of an international investment forum in Bali, Luhut said the Indonesia family office market could generate substantial ca