Wealth of Opportunity
Bank of China (Hong Kong) Private Banking provides clients with a comprehensive network and range of services to help make the most of global investment opportunities
Today’s investor has an unprecedented array of investment opportunities available, in large part to a host of new economic policies introduced by the Chinese central government, including the Shenzhen-hong Kong Stock Connect, Shanghai-hong Kong Stock Connect, the Mutual Recognition of Funds Scheme and the Belt and Road initiative.
As a long-standing player, well established in Southeast Asia and with the added advantage of being able to leverage its parent company’s extensive banking network and rock-solid foundations, Bank of China (Hong Kong) (BOCHK) is ideally positioned to help its clients not only access this wealth of new opportunities, but also to make the best of any opportunity that may present itself.
“Today’s HNWIS [high-net-worth individuals] expect their private banks to do more than just manage their investments,” says Wendy Tsang, managing director and head of private banking at BOCHK. “Today’s clientele want a bank that can provide them with a full range of services to meet their personal as well as their business needs.”
As one of the largest commercial banking groups in Hong Kong, BOCHK’S service network encompasses almost 200 branches in the city alone. Together with its integrated banking platform and comprehensive suite of products, the bank’s clients enjoy an unrivalled one-stop solution for all their banking needs, whether they are personal, corporate or private banking customers.
BOCHK is also staying ahead of the curve by looking abroad to enhance and improve its reach in Southeast Asia. As part of this initiative, the bank is actively planning asset acquisitions from its parent company, Bank of China, in several Asean countries and has already completed such acquisitions in Malaysia. This marks an important step in taking BOCHK from a local to a regional bank, optimising its Asean presence and enabling BOCHK to take full advantage of investment opportunities that present themselves as a result of China’s Belt and Road initiative.
“As part of our commitment to providing our clients with a comprehensive global network we will also transfer resources, talent and systems to our branches in Southeast Asia to establish BOCHK as a mainstream regional bank,” says Tsang.
To support its growth ambitions, the bank is also investing in the development of new private banking professionals through training schemes for staff in its Asean branches.
“There is a shortage of talent as a result of new opportunities arising from the rapid growth in the private banking market,” says Tsang, who is also vice-chairman of the Private Wealth Management Association.
In addition, BOCHK Private Banking is an active participant and champion of the industry-wide Apprenticeship Scheme, which gives undergraduates the opportunity to intern at private banks and gain valuable working experience towards a successful career in private banking.