A major Asian wealth manager said it has received a large flow of new money in Singapore from Hong Kong over recent weeks, requesting not to be identified due to the sensitivity of the issue.
(July 13): Private bankers are being flooded with inquiries from investors in Hong Kong who are worried about the long-term effects of the political crisis in the Chinese city.
While the Hong Kong government has shelved the controversial law that sparked the latest round of unrest – one that would have allowed criminal suspects to be transferred to the mainland for trial – a new tier of wealthy investors are setting up ways to move their money out of the former British colony more quickly, bankers and wealth managers said.
