Business Correspondent Investors are increasingly spreading their assets across various markets to reduce risk from global uncertainties, which presents more opportunities for banks to capture wealth flows, said two senior bankers from HSBC.
The next generation of business leaders are also thinking about what a sustainable future means for their firms, which has led to geographical diversification of not just their companies' operations but also their personal wealth.
Mr Tommy Leung, HSBC's head of global private banking for South Asia, encompassing South-east Asia and India, said patriarchs or matriarchs in wealthy families often kept to their core markets. "But now, the next gen is quite happy to look outside their core market."
HSBC can play a role by helping these clients look for target firms in renewable energy sectors, in places like Australia and China, he said.
Investors are also choosing to have "more pockets of wealth everywhere" rather than simply moving their wealth from one destination to another, he said.
"Historically, Hong Kong and Singapore have been the two most popular booking centres but, now, more and more clients are interested in Switzerland, in the UK, or even farther," he added.
American, European and Middle East clients looking to place their assets in Hong Kong and Singapore to tap the opportunities in Asia. So we have seen diversification go both ways."
Separately, a McKinsey article on Sept 6 noted that wealth flowing into Hong Kong and Singapore is mainly coming from elsewhere in Asia, but there will likely be increased wealth flows from Europe and North America as many global investors see Asia as a safe haven for portfolio diversification.
この記事は The Straits Times の September 11, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Straits Times の September 11, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Howe focuses on positives after rare clean sheet in draw at Everton
LONDON Eddie Howe praised Newcastle United's defensive display and rare away clean sheet after the 0-0 English Premier League draw at Everton on Oct 5, as a missed Anthony Gordon penalty denied the visitors all three points.
Chelsea frustrated by 10-man Forest but remain fourth
Noni Madueke's equaliser rescued Chelsea in a 1-1 English Premier League draw against 10man Nottingham Forest that ended the Blues' five-match winning run on Oct 6.
Calm Verdy fight back to lift Lion City Cup
Showing their class for a second consecutive match, Japanese side Tokyo Verdy came from behind to defeat holders BG Pathum United 4-1 to clinch the Lion City Cup on Oct 6.
TEN HAG HAILS BATTLING DRAW
United manager says his 'determined' side defended well, showed character at Villa
Sidelined Carvajal to return like an 'animal'
MADRID - Real Madrid defender Dani Carvajal confirmed that he will undergo surgery after suffering a serious knee injury in the 2-0 Spanish La Liga win over Villarreal on Oct 5.
Arteta hails Saka's ability to change games
LONDON - Arsenal manager Mikel Arteta could almost forgive his side for going a goal down to struggling Southampton as it brought out the best in winger Bukayo Saka, who scored one goal and made two more in their 3-1 English Premier League home win on Oct 5.
KEY KOVACIC UNLOCKS FULHAM
Midfielder fills in for Rodri and bags brace in win to get City's title bid back on track
Rugby player on rape charge booed on return
PARIS - France lock Hugo Auradou was described as being \"serene\" by Pau head coach Sebastien Piqueronies on Oct 5, despite being whistled off the pitch in his first match since being accused of rape in Argentina.
TEARS OF JOY FOR GAUFF IN CHINA
American clinches second title of 2024; Sinner needs day off after comeback win
Victorious Pereira not switching divisions
Brazil's Alex Pereira roared back from a poor start to knock out Khalil Rountree Jr and retain his light heavyweight title at UFC 307 at the Delta Centre on Oct 5, while in the co-main event Julianna Pena beat Raquel Pennington to reclaim the women's bantamweight crown.