HKU Business School Join Hands with BOCHK to Foster Wealth Management Talent Seizing Financial Opportunities in the Greater Bay Area

Hong Kong’s first Five-Year Plan has clearly outlined the strengthening of its position as an international financial centre, including our role as a world leading cross-boundary wealth management centre and global offshore renminbi (RMB) business hub. Against the backdrop of continuing wealth growth in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), HKU Business School Wealth Management Academy (the Academy), supported by Bank of China (Hong Kong) (BOCHK), held its Legacy and Pioneer Launch Ceremony and the BOCHK • Finance Salon @ Greater Bay Area Future on 13 October. The initiative aims to strengthen collaboration between academia and industry, while promoting talent development and knowledge exchange. The event brought together over 100 business leaders, academics and industry experts to discuss financial opportunities arising from the development of the GBA.

In his welcome remarks, Professor Hongbin CAI, Dean of HKU Business School and Chair of Economics, said, “As Hong Kong became the world’s largest wealth management centre, the launch of the Academy marks an important milestone in advancing the School’s thought leadership and talent development. Ranked 6th in the UTD Top 100 Business School Research Rankings last year, we will leverage our world-class faculty and research strength to deliver frontier research and policy insights for the industry.” 

He added, “Over the past decade, the School has built a comprehensive talent development ecosystem spanning undergraduate, master’s, and executive education programmes, while the Academy has maintained close ties with industry stakeholders. With the support of Bank of China (Hong Kong) and other industry partners, the Academy will further strengthen collaboration among government, business, and academia, reinforcing Hong Kong’s position as a leading international wealth management hub.”

Mr. Joseph CHAN, Under Secretary for Financial Services and the Treasury, delivered a keynote speech on Hong Kong’s financial policy. He said: “Hong Kong’s financial market enjoys unique strengths as the world’s largest offshore Renminbi hub and strong market liquidity, supported by its deep connectivity with both Mainland Chinese and global markets. These advantages provide a solid foundation for the growth of the wealth management industry. The establishment of the Academy is timely, helping to meet rising demand for professional talent.”

Mr. CHAN added, “To enhance Hong Kong’s competitiveness, the Government continues to strengthen its policy framework through measures such as enhancing tax regime, and closer engagement with family offices worldwide. Meanwhile, the Government is strengthening connectivity within the Greater Bay Area through enhancement of the Cross-boundary Wealth Management Connect Scheme, creating broader growth opportunities for the asset and wealth management industry.”

Mr. Huabin WANG, Deputy Chief Executive of BOCHK, delivered a keynote speech on the international use of the RMB. He said: “Under the dual drivers of policy and market, the international use of the RMB has achieved encouraging results in recent years, making Hong Kong the world’s premier offshore RMB hub. Hong Kong possesses three distinct advantages that ensure broad prospects as a global offshore RMB hub. First, Hong Kong’s first Five-Year Plan provides clearer guidance for the development direction of its RMB business. Second, the city’s RMB business ecosystem has become increasingly mature with its expanding range of offshore RMB products. Third, Hong Kong has a unique advantage in telling the story of the international use of the RMB, and its ability to reach emerging markets is strengthening. These advantages will further consolidate Hong Kong’s position as a global offshore RMB hub as the city continues to play a vital role in the process of advancing the international use of the RMB.”

The event also featured a panel discussion titled “Future Trend and Challenges of Wealth Management”. Distinguished speakers included Mr. Edmund KAM, General Manager of Private Banking at BOCHK; Ms. Vivien KHOO, CEO and Managing Director of the Private Wealth Management Association; Ms. Kayan PAU, Deloitte Private Partner; and Professor Yang LIU, Co-Director of the HKU Business School Wealth Management Academy. The session was moderated by Professor Ivan WONG, Professor of Practice in Finance at HKU Business School. The panel explored future trends in the industry, discussing how Hong Kong can leverage its unique geographical position to strengthen connectivity with the GBA and further reinforce its competitive advantages in the global wealth management landscape.

To support the development of the wealth management industry, the HKU Business School Wealth Management Academy, with sponsorship from BOCHK, has launched a series of initiatives, including the Wealth Management Challenge Competition, which will be held later this year, the BOCHK • Finance Salon @ Greater Bay Area, the Bank of China (Hong Kong) - Future Wealth Navigator Scholarship for Master's Programme, and the Bank of China (Hong Kong) - Rising Star Wealth Management Scholarship for Undergraduate Programme.

Hi-res photos are available here.

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