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Legacy and Innovation in Wealth Management

Pictet Wealth Management offers centuries of expertise to help clients grow their assets.

Most people can use a little advice when it comes to how to best handle their resources. The mission of Pictet Wealth Management is to help ensure clients’ wealth will continue to grow in the long term. Pictet’s values of continuity, independence and entrepreneurship are reflected in their management models, family offices, or entrepreneurial businesses. 

Individual and family wealth specialists

Since it opened 35 years ago, Pictet’s Hong Kong office has grown to become one of the group’s top four largest ones outside of its Geneva headquarters. Its dedicated specialists in investment, wealth management, family office services and asset management provide a wide range of offerings developed locally. “With the launch of an Asia-specific service platform in 2011, Asian clients were able to benefit from two booking centres located in Hong Kong and Singapore, coupled with integrated local support functions, tailored on-site advisory services and portfolio management. Very few of our offices worldwide have developed such an advanced set up. In the past year, Pictet’s financial solidity and stability — with some of the highest ratings in the industry—resonated particularly amongst Asian clients seeking a safe haven for their assets, especially in troubled times,” said Alex Ng, CEO for Hong Kong Branch and Head of North Asia of Pictet Wealth Management.

Pictet’s current priorities for its Hong Kong office are to focus on innovative wealth solutions; strengthen its investment platform; and grow staff through a strong hiring strategy to find the right candidates. “There is a growing demand for professional wealth management services in the region such as financial planning and investment portfolio management,” noted Ng. “The talent gap in Hong Kong is amongst the biggest challenges facing the city in the private wealth management industry, according to a survey conducted by the Financial Services Development Council last year. It is important to encourage and mentor a young generation of finance-related experts. This is the only way to create the sustainable and highly qualitative talent pool needed by Hong Kong’s financial industry.”  

Bright future in Greater Bay Area 

“We believe the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) will be the next driving force to lead more family offices to set up in Hong Kong as the city acts as an IPO hub for GBA companies,” Ng said.  As the Legislative Council passed the Limited Partnership Fund Bill last year, it established a new way for investment funds to be set up in Hong Kong through limited partnerships, which is a popular format for family offices. 

Mentioning InvestHK’s support, Ng stated that “Its portal provides information for family offices, which we believe would encourage even more potential clients to set up their family offices in Hong Kong,” he said.  “InvestHK also organises a series of webinars to promote the setting up of family offices, a positive initiative in fortifying Hong Kong as the regional financial hub for banking and wealth management.” 

As for living and working in Hong Kong, Ng was enthusiastic, “the city offers the best of Eastern and Western cultures as well as convenience from its highly efficient infrastructure.”

26.02.2021

Fast Facts

  • Founded in 1805 and headquartered in Geneva, Switzerland, Pictet offers wealth and asset management alongside related services, employing more than 4,900 people in 30 offices around the globe
  • Its Hong Kong office was established in 1986 to cover Greater China and North Asia with more than 180 staff members today catering to individuals, family businesses and institutionals

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