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Private banks boost Hong Kong hiring to woo rich Chinese clients

Bloomberg
Bloomberg • 5 min read
Private banks boost Hong Kong hiring to woo rich Chinese clients
Hong Kong has been rolling out the red carpet for family offices and the wealthy with tax concessions as well as residency plans. Photo: Bloomberg
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Wealth managers are ramping up hiring in Hong Kong to cater to an inflow of mainland Chinese money.

UBS Group is adding staff as it looks to double the assets it manages for millionaire clients in Greater China over the next three to five years.

Bank of Singapore has boosted staff in Hong Kong by 30%, while Julius Baer Group, a Swiss wealth manager, grew its office space in Hong Kong by 40% last year along with hiring.

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