Latest news with #BloombergFamilyOfficeSummit
Bloomberg
17-04-2025
- Business
- Bloomberg
Here's what Hong Kong needs to do to attract family offices
Family offices say they are drawn to Hong Kong for its access to China investments and lifestyle perks, though they see a need for better vetting within the industry. Joe Qiao, chief investment officer at Taiwan-based single-family office Globaltec Capital, says he hasn't encountered another agency that matches the intensity of InvestHK, the government arm tasked with attracting capital to Hong Kong. 'It's crazy. I went to events in Shanghai, in Beijing — they're everywhere,' Qiao said. Still, controversy over an announced family office launch last year sparked questions about due diligence — just as Hong Kong pushes to position itself not only as a bridge to mainland capital, but as a true global gateway for the ultrawealthy. President Donald Trump's tariffs that have upended global markets are also presenting fresh challenges to Hong Kong's wealthiest families. 'At the moment, while the verbal rhetoric is shrouding reality, we are taking a cautionary view,' said Mahesh Harilela, family council investment strategist at hotel developer Harilela Group, which owns and operates hotels globally. Here's what family offices say about Hong Kong's wealth push so far. Carman Chan, founder and principal at Click Ventures, a Hong Kong and Singapore-based single-family office: Many global families see China as a critical market, but they worry about how to enter and, crucially, exit investments smoothly. If Hong Kong becomes the only jurisdiction where global families can confidently access, grow, and exit China investments, it will be irreplaceable — neither Singapore nor Dubai can match this advantage. Beyond financial policies, Hong Kong offers exceptional lifestyle advantages that may be appealing to global families. The city's international schools stand out by providing four different levels of Chinese language programs, including native-level fluency — far surpassing the basic Chinese offerings at most international schools in Singapore or Dubai. Global trade wars are reshaping venture capital strategy globally and creating both challenges and opportunities. On the liquidity front, slower merger and acquisition and IPO activity may delay exits, making fundraising more difficult for VCs. This environment also opens doors for alternative solutions like secondary funds and continuation vehicles. Family offices in Hong Kong are more collaborative and communicate with each other far more than in the US. And we're trying to do more of it here in Hong Kong — get more family offices together to share ideas and learn from each other. That improves the economies of scale so that we can also be a more attractive destination for general partners from all over the world. I don't think its even about specific additional supportive policies. Hong Kong stands out on its own in terms of the unique positioning within the global investment landscape. (Zhu spoke at the Bloomberg Family Office Summit in Hong Kong on March 27.) Joe Qiao, chief investment officer at Globaltec Capital, a single-family office based in Taiwan: A lot of family offices are becoming more institutional and professional. Five years ago, people were mostly talking about direct investment deals, but these days its sophisticated transactions. People are discussing secondary transactions, asset package buying credit — all new things and all very sophisticated investments approaches. (Qiao spoke at the Bloomberg Family Office Summit in Hong Kong on March 27.) Multi-family offices are complex and demand sophisticated professional services. Managing diverse investments and cross border tax jurisdictions requires expertise from skilled professionals from around the world. Tax incentives alone are not enough: Hong Kong must also attract high-value employment. This will generate government revenue through stamp duties and salaries taxes — and in turn it will support other service industries. Kevin Qin, vice-chairman of the Asian Family Legacy Foundation, a family office community: The past week of tariff turmoil has likely heightened uncertainty for businesses and investors, directly influencing the global asset allocation strategies of family offices. While tariffs may cause short-term disruptions for Hong Kong, the city's historical resilience and adaptability offer a sense of optimism.
Bloomberg
29-03-2025
- Business
- Bloomberg
Family Offices Bring New Vibrancy to Global Investment
The world in in the middle of the biggest family wealth transfer ever seen which means more capital is creating a vibrant investment environment and new family offices are springing up. Hannes Hofman, Global Head of Family Office Group, Citi Wealth and Paul Knox, Managing Director & Senior Wealth Advisor Asia, J.P. Morgan Private Bank speak to Denise Wee at the Bloomberg Family Office Summit in Hong Kong. (Source: Bloomberg)
Bloomberg
28-03-2025
- Business
- Bloomberg
UBS Wealth Chief Khan Bullish on China
Iqbal Khan, Co-President Global Wealth Management & President Asia Pacific UBS tells investors they should be 'positive' on China in the long term, speaking to Haslinda Amin at the Bloomberg Family Office Summit in Hong Kong. (Source: Bloomberg)
Bloomberg
28-03-2025
- Business
- Bloomberg
Cybersecurity Single Biggest Risk to Family Offices
Cybersecurity is the single biggest risk to family office assets and reputation Jason Lau, Global Board of Directors, ISACA and General Partner & Co-founder, Hanaco Ventures tell Diana Li at the Bloomberg Family Office Summit in Hong Kong. (Source: Bloomberg)
Bloomberg
28-03-2025
- Business
- Bloomberg
Hong Kong Still Competitive in Asia Family Office Push
"How Hong Kong continues to take on Singapore as a regional hub for family offices was front and center when Joe Qiao, Chief Investment Officer Globaltec Capital; Ming Yan, Managing Director Cambridge Associates and Helen Zhu, Managing Partner & Chief Investment Officer NF Trinity sat down with Lulu Chen at the Bloomberg Family Office Summit in Hong Kong. (Source: Bloomberg)
