Private banks in HK flag their biggest concerns
Regulatory compliance tops the list of challenges for wealth managers in the city, with talent sourcing another major concern, according to a new survey.
Private banks in Hong Kong have identified regulatory compliance as out-and-out the biggest challenge to their business operations, amid a rising tide of global rules emanating from foreign jurisdictions and international trade bodies and regulators. Talent sourcing has been highlighted as another major issue.
In a survey conducted by Hong Kong’s Private Wealth Management Association (PWMA) and consultancy PwC, 96% percent of respondents cited as their main worry the tightening of…
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