PWMA Wealth Management Summit 2022

"Expanding Outreach, Extending Connectivity, Expediting Growth"

21st October, 2022 (Friday)

With the ongoing digital transformation of the industry and the impact of COVID-19, banks are becoming more adaptive and innovative. The private wealth management industry, a traditionally high-touch industry, is preparing for the post-COVID new normal and finding the most optimal way to balance automated self-service and human interactions.

The industry is looking forward to the opportunities (e.g. GBA, Family Office Hub etc.) that lie ahead and is getting ready to tap into them further when Hong Kong opens up to the rest of the world and the Mainland after the current wave of outbreak subsided. Some industry megatrends will keep the industry busy in the coming years. For example, with local and global regulators progressively setting up frameworks to overcome legal uncertainties around digital assets, firms are actively exploring to meet the growing demand for clients. Sustainable investing represents another prominent trend in the industry. With its returns continuing to improve, in many cases outperforming the non-ESG portfolio, it is set to grow more rapidly in the coming years. In fact, it is now seen as an excellent opportunity for private banks to retain and attract clients, especially the next generation clients because it reconciles their financial interest with the values they believe in. The industry has to work hard to meet this growing demand by building up their expertise in value-based investing and improving workflow, such as by providing more comprehensive and personalized impact reporting.

When HK opens up again, and when travel resumes, we will extend our connectivity with the Mainland (GBA) and the rest of the world. Banks will need to make another shift after COVID on how they interact with clients (from almost 100% remote client interactions during COVID). Digital Assets and ESG will enable the industry to expand their outreach to their next gen clients. All of these point to a new paradigm of private banking (with a reshaped economic model, workforce model and operating model) to achieve sustainable growth.

This event will attract over 800 industry professionals to attend, making it the important private banking event of the year in Hong Kong. It will feature a 1-day programme that focuses on the future blueprint of the Private Wealth Management industry. Through thought-provoking discussions and presentations, the speakers will discuss how firms can arrive at the right strategy to develop their business, reshape their existing operating models and build toward a sustainable future.