Jeffrey Lee and Silvia On interview on the rivalry between Hong Kong and Singapore in Asian Private Banker
Partners Jeffrey Lee and Silvia On, explain Asian clients’ growing awareness of the need for wealth planning and offer their views on the rivalry between Asia’s two main wealth hubs.
Jeffrey Lee comments that Hong Kong is ideally positioned for the wider ASEAN market. “Singapore’s capital market is significantly behind the size of the four leading capital markets: New York, London, Tokyo and Hong Kong. I do not think there is any city that will match Hong Kong’s proximity and business sensitivity to the Chinese market.”
Silvia On continues to explain: “As HNWI clients create new wealth, they become more concerned about issues such as succession planning — how to pass their wealth and business to the next generation."
She continues to say: “Although Asian and Western clients have a different culture and mindset, at the end of the day they all still have succession issues and need to plan for that.”
For the full published article, please visit Asian Private Banker [subscription required].