Key Takeaways
- • Cambridge Associates, a US investment firm with more than US$38 billion in assets under management, has applied for multiple licences to conduct business in Hong Kong, according to a senior executive quoted by the South China Morning Post.
- • The firm is targeting wealthy clients in the Greater Bay Area and would add Hong Kong to its existing offices in Beijing, Singapore and Sydney.
- • Mary Pang, head of global private client practice at Cambridge, said the expansion will allow the firm to capture growing opportunities tied to the development of the Greater Bay Area.
Summary
Cambridge Associates, a US investment firm with more than US$38 billion of assets under management, has applied for multiple licences to conduct business in Hong Kong, according to the South China Morning Post. The firm, which serves as wealth manager for the Rothschild family, is seeking to establish a presence in the city to better serve its clients, with a particular focus on wealthy individuals in the Greater Bay Area.
The move would add Hong Kong to Cambridge's existing offices in Beijing, Singapore and Sydney. The Post reported that the expansion places the firm alongside top-tier lenders that have been pushing into the wealth management industry in Hong Kong, a market shaped by China's rapid growth in new billionaires.
In a phone interview with the Post, Mary Pang, head of global private client practice at Cambridge, said: "The expansion of our footprint to Hong Kong will allow us to capture the growing opportunities in the development of the Greater Bay Area."
The source material available for this report was limited to headlines, snippets and a single supplemental account, so details such as the number of licences sought and the expected timeline for launch could not be confirmed.
The move would add Hong Kong to Cambridge's existing offices in Beijing, Singapore and Sydney. The Post reported that the expansion places the firm alongside top-tier lenders that have been pushing into the wealth management industry in Hong Kong, a market shaped by China's rapid growth in new billionaires.
In a phone interview with the Post, Mary Pang, head of global private client practice at Cambridge, said: "The expansion of our footprint to Hong Kong will allow us to capture the growing opportunities in the development of the Greater Bay Area."
The source material available for this report was limited to headlines, snippets and a single supplemental account, so details such as the number of licences sought and the expected timeline for launch could not be confirmed.
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