Synopsis
This report is the result of Company’s extensive research covering the HNWI population and Wealth Management industry in Hong Kong.

Executive Summary
This report is a thorough analysis of Hong Kong’s Wealth Management and Private Banking sector, and the opportunities and challenges that it faces. In addition to providing a comprehensive and robust background of the Hong Kong economy, including, uniquely, detailed analysis of economic and political risks to HNWI wealth creation, the report provides robust projections of the volume and wealth of Hong Kong’s HNWI.

Scope
The report features:
• Independent market sizing of Hong Kong’s HNWI
• Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Hong Kong
• Current insights into the drivers of HNWI wealth
• Family office information

Reasons To Buy
• The Company Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the Database comprises up to one hundred data-points on over 100,000 HNWI, private banks, wealth managers and family offices around the world. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
• Comprehensive forecasts to 2015.
• Asia is the fastest growing region in the world in terms of wealth. Financial centres such as Singapore and Hong Kong are ideally located to benefit from this new wealth.

Key Highlights
• The Asia-Pacific wealth management sector (excluding Japan and Australia) grew from assets under management (AuM) of US$650 billion in 2007 to over US$1.3 trillion in 2011.
• The wealth management and private banking sector in Hong Kong is well developed, with over US$250 billion in assets under management (AuM). Of this amount, only 26% is invested in Hong Kong itself while 24% is invested in mainland China, 30% in the rest of Asia, 11% in North America, 5% in Europe and the remainder allocated to Latin America, the Middle East and North Africa.
• Following its growth of 31% in 2009, the wealth management and private banking sector in Hong Kong grew by a solid 32% in 2010, increasing the level of AuM to 15% higher than level reached before the start of the global financial crisis.
• Hong Kong’s overall prospects remain bright. The PRC’s Twelfth-Five-Year Plan, which intends on internationalizing the Chinese currency for the first time, gives support to the development of Hong Kong as a Chinese offshore and international asset management centre.

1 Introduction
1.1 What is this Report About?
2 Wealth Sector Fundamentals
2.1 Political Background of the Wealth Sector
2.2 Economic Background to the Wealth Sector
2.3 Benchmarking Hong Kong Wealth in Context
3 Competitive Landscape of the Wealth Sector
3.1 Competitive Structure
3.1.1 Wealth management and private banking industry – competitive structure
3.1.2 Multinational corporations
3.1.3 Chinese banks
3.1.4 Local Hong Kong banks
3.1.5 Wealth managers
3.1.6 Private banks
3.1.7 Joint ventures
3.1.8 Boutique and independent financial advisors
3.1.9 Trusts
3.2 Family offices
3.2.1 Hybrid family offices
3.2.2 Multi-family offices
3.2.3 Single-family offices
3.3 Leading Companies in the Wealth Management and Private Banking Industry
3.4 Offshore Wealth Management and Private Banking Industry
3.5 Hong Kong Wealth Management and Private Banking Industry – Behavioral Mapping
3.6 Challenges and Opportunities for the Wealth Sector in Hong Kong
3.6.1 Regulatory environment
3.6.2 Tax structure
3.6.3 Human resource availability for the wealth management and private banking industry
3.6.4 Philanthropy
3.6.5 Intergenerational wealth transfer and younger clientele
4 Appendix
4.1 Pertinent Regulations
4.1.1 Regulations on banks
4.1.2 Regulations on foreign banks
4.1.3 Regulations on real estate
4.1.4 Regulations on foreign investment
4.1.5 Regulations on capital investment
4.1.6 Regulations on leverage buyouts and M&A
4.1.7 Regulations on hedge funds and derivatives
4.1.8 Regulations related to taxes
4.2 Key Economic Trends and Drivers
4.2.1 National wealth indicators
4.2.2 Financial market indicators
4.2.3 Banking indicators
4.2.4 Trade indicators
4.2.5 Other indicators
5 About Company

List of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: Main Companies in the Hong Kong Wealth Management Industry
Table 3: Main Companies in the Hong Kong Wealth Management Industry
Table 4: Real GDP Growth Rate (%), 2006–2015
Table 5: GDP Per Capita, 2006–2015
Table 6: Gross Savings as a Percentage of Real GDP, 2006–2015
Table 7: Domestic Market Capitalization and P/E Ratio, 2006–2010
Table 8: Housing Price Index, 2006–2010
Table 9: Commodity Indices, 2006–2015
Table 10: Foreign Direct Investment (US$ Billion), 2006–2015
Table 11: Investments of FIIs in Equity Products, 2006–2009
Table 12: Inflation Rate (%), 2006–2015
Table 13: Repo Rate (%), 2006–2015
Table 14: Balance of Payments (US$ Billion), 2006–2010
Table 15: Stock Market Performance, 2006–2010
Table 16: External and Fiscal Debt as Percentage of GDP, 2006–2015
Table 17: HNWIs Wealth vs GDP Ratio, 2006–2010
Table 18: Capital Formation as a Percentage of GDP, 2006–2015
Table 19: Disposable Income as a Percentage of GDP, 2006–2015

List of Figures
Figure 1: HNWI Wealth Band and Group Definitions
Figure 2: HNWI Wealth Sector Market Attractiveness, 2007–2015
Figure 3: HNWIs – Hong Kong vs Rest of the World and the Asia-Pacific Region
Figure 4: Hong Kong Wealth Management Industry – Behavioral Mapping, 2011
Figure 5: Real GDP Growth (%), 2006–2015
Figure 6: GDP Per Capita, 2006–2015
Figure 7: Gross Savings as a Percentage of Real GDP, 2006–2015
Figure 8: Domestic Market Capitalization and P/E Ratio, 2006–2010
Figure 9: Housing Price Index, 2006–2010
Figure 10: Commodity Indices, 2006–2015
Figure 11: Foreign Direct Investment (US$ Billion), 2006–2015
Figure 12: Investments of FIIs in Equity Products, 2006–2009
Figure 13: Inflation Rate (%), 2006–2015
Figure 14: Repo Rate (%), 2006–2015
Figure 15: Balance of Payments (US$ Billion), 2006–2010
Figure 16: Stock Market Performance, 2006–2010
Figure 17: External and Fiscal Debt as Percentage of GDP, 2006–2015
Figure 18: HNWIs Wealth vs GDP Ratio, 2006–2010
Figure 19: Capital Formation as a Percentage of GDP, 2006–2015
Figure 20: Disposable Income as a Percentage of GDP, 2006–2015

Companies Mentioned

International banks:

ABN Amro
ABSA Asia Ltd
ANZ Private Bank
Bank of America (Asia) Ltd
Bank of Taiwan
Banque Pictet
Banque Privιe Edmond de Rothschild
Barclays Wealth
BNP Paribas
Citi Private Bank
Credit Suisse
DBS Bank
Deutsche Bank
EFG Bank
Fubon Bank
Goldman Sachs
J.P. Morgan Private Clients
Julius Baer
Morgan Stanley Asia Limited
RBS Coutts
Rothschild
Standard Chartered Private Bank
The Iyo Bank, Ltd
UBS AG
Wayfoong Finance Ltd
Local Banks
Bank of East Asia
Chi Yu Bank
Chong Hing Bank Limited
Dah Sing Bank Limited
Hang Seng Bank Ltd
MEVAS Bank Limited
Tai Sang Bank Ltd.
Tai Yau Bank Ltd.
Wing Hang Bank Ltd.
Wing Lung Bank

Chinese banks:

Agricultural Bank of China
Bank of China
Bank of Communications
China CITIC Bank
China Construction Bank
China Everbright Bank
China Merchants Bank
China Trust Commercial Bank Limited
Industrial and Commercial Bank of China
Nanyang Commercial Bank
Hong Kong Life Insurance
ICICI Venture Funds and Va Tech Wabag
JPMorgan Chase and First Capital Securities Co
Morgan Stanley and Huaxin Securities Co Ltd
Ajia Partners (Hong Kong) Ltd.
AMC Group – Asset Management China
HSBC Family Office Services Ltd.
Lombard Odier Darier Hentsch Ltd.
KCS Services Limited
The Pacific Bridge Companies
RMA Partners
VP Wealth Management Ltd.
Wealth Management Group
Financial Advisors
Brogan & Scaltrito
CIT Commercial Services (Asia) Ltd
Xinhua Finance Ltd
Uni-Asia Finance Corporation