Hong Kong thrives on low-tax regime and active capital market, family office says
Hong Kong's low-tax regime, active capital market and integration with the Greater Bay Area suit global family offices and investors, selling points that have helped widen its lead over regional hubs like Singapore and Tokyo, according to industry experts
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The city should hold more conferences and events to promote its competitive advantages, Oliver Weisberg, CEO of Blue Pool Capital, the family office of businessman Joe Tsai, said at the Milken Global Investor Symposium in Hong Kong on Monday. Hong Kong's quality of life, education, healthcare and hub status make it an ideal location, he added.
'There is a great pool of talent as our analysts, associates, managing directors [show],' said Weisberg, a former investment banker with Goldman Sachs and Citadel who has lived in the city for 30 years. 'This is where they want to live for all the reasons we have talked about.'
He recalled picking Hong Kong as the top choice in 2015 when he joined Tsai- who is also the chairman of Alibaba Group Holding which in turn is the owner of the Post – in steering the multi-strategy investment firm.
Blue Pool Capital CEO Oliver Weisberg speaks at the Milken Institute symposium in Hong Kong on Monday. Photo: Jonathan Wong
Hong Kong is hosting several investment-related conferences this week, apart from the Milken symposium. HSBC will hold its Global Investors Summit, while the Hong Kong government will host the third edition of the Wealth for Good event. The World Economic Forum will join the city's stock exchange operator Hong Kong Exchanges and Clearing to conduct the Centre for Financial and Monetary Systems symposium.
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Financial Secretary Paul Chan Mo-po said there would be more mega-events in the pipeline, including the inaugural Hong Kong Global Financial and Industry Summit in June, which is expected to draw hundreds of global enterprises, tech firms and funds.
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