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Wealth managers in Hong Kong are ramping up hiring to accommodate a surge in mainland Chinese clients seeking offshore investments and residency options. With private wealth net inflows nearly tripling to HK$341 billion in 2023, banks like UBS and Julius Baer are expanding their teams and services to cater to this growing demand. Amid geopolitical concerns and economic challenges in China, affluent individuals are increasingly looking to diversify their assets and secure better opportunities abroad.
Intudo Ventures, an Indonesian venture capital firm, has closed its fourth fund at $75 million, a reduction from its previous $144 million fund, amid a downturn in Southeast Asia's startup ecosystem. The new fund will target over a dozen emerging Indonesian startups and support their global expansion. Additionally, the firm has raised a separate $50 million fund focused on renewable energy investments.
Patrick Yip
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
private banks in hong kong expand hiring amid influx of chinese wealth
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04:44 16.12.2024
indonesia venture capital firm intudo ventures raises 75 million for new fund
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