Exclusive Winners of the 2021 Wealthbriefingasia Greater China Awards for Private Banking Excellence

ACRECOGNISING LEADERS ACCLAIMROSS THE GLOBAL WEALTH MANAGEMENT INDUSTRY THROUGH THE WEALTHBRIEFINGASIA AWARDS PROGRAMME

EXCLUSIVE WINNERS OF THE 2021 WEALTHBRIEFINGASIA GREATER CHINA AWARDS FOR PRIVATE BANKING EXCELLENCE

July 2021

ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 3

FOREWORD CONTENTS Tom Burroughes, Group Editor, WealthBriefingAsia INTERVIEWS:

The WealthBriefingAsia Greater China Awards acknowledge the Hywin Wealth ...... 5 people who continue to drive an industry forward and who do so in the BNP Paribas Wealth Management ...... 7 most challenging of times. To create wealth - and the jobs, services EFG ...... 9 and products of business - requires that those who acquire it are well looked after. These accolades are a part of that process. HSBC Private Banking ...... 11 Indosuez Wealth Management ...... 13 Central to the awards programme is the judging process. A panel of Lombard Odier ...... 15 judges is composed of senior figures in banks, law firms, technology Raffles Family Office ...... 17 businesses, family offices, consultancies and other organisations. RBC Wealth Management ...... 19 Stephenson Harwood ...... 21 They scrutinise entrants’ submissions to draw up the list of win- Union Bancair Priveé ...... 23 ners. Judges bring their varied knowledge and experience to the ta- ble. A crucial point is that judges don’t get to vote on firms in their WithersWorldwide ...... 25 own immediate sector – this protects the integrity of the process and Zhong Lun Law Firm LLP ...... 27 potentially sensitive information. WEALTHBRIEFINGASIA GREATER CHINA A list of judges is shown on this news service’s website. We wel- AWARDS WINNERS IN FULL ...... 28 come ideas about how the awards categories and process should change. We have already tweaked the programme over the years and take suggestions seriously. Just as the Greater China industry has evolved, so must the awards programmes keep up with change, such as the arrival of new sectors and categories.

We know how much these awards mean to the winners and of how they can make a splash in marketing and branding. And they’re a way for winners to remind colleagues and business owners that they are making a difference and are catching the eyes of their peers.

Reputation counts for a great deal in today’s business world and these awards recognise the work done to maintain high standards. The organisers of these awards learn a great deal more about this industry as a result of putting these programmes together.

The calibre of people in wealth management is the ultimate factor, and these awards salute their grit, passion and work ethic.

OVERVIEW OF THE ASIAN WEALTH MANAGEMENT SECTOR

If there was data that grabbed our Citigroup, DBS and Credit Suisse, along worth setting out these numbers if only attention, it was Boston Consulting with large asset manager houses, have to put geopolitical worries about parts Group’s summer 2021 prediction that target the region for expansion. Take of North Asia into perspective. (That Hong Kong is poised to take the lead in just one case: Citigroup. The US bank in doesn’t mean they can be overlooked, 2023 by overall size, with strong inflows May said that over the next five years it of course.) from Mainland China expected to drive plans to recruit more than 1,000 people assets under management to a “stag- to work in its wealth franchise in Hong And all this wealth management fer- gering” $3.2 trillion by 2025, a compound Kong, including more than 550 new re- ment drives the technology and related annual growth rate of 8.5 per cent. lationship managers and private bank- sectors, and heightens need for RMs ers over that period. and other professionals to be literate The Cross-boundary Wealth Man- around technology. Talent management agement Connect programme link- Such figures give a flavour of how im- remains a crucial area to get right. ing the mainland, Hong Kong and portant this region remains as a wealth Macao, which at the time of writing sector dynamo. It’s no wonder that in- It’s no longer an excuse for firms not has been due to go live this summer dependent wealth firms, single- and to have user-friendly client reporting (2021), is expected to enable a total multi-family offices and boutique wealth and digestible information that clients fund flow of RMB300 billion ($46.5 bil- firms are also flourishing and getting off understand. The Asia region is already lion) in terms of sales in investment the ground. And it explains the rise of in the cutting edge of tech adoption and products. No wonder that a number private client law firms and other pro- digital channels – strong growth only re- of international banks, such as UBS, fessional services organisations. It is inforces this.

ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 5

INDEPENDENT WEALTH MODEL UNDERPINS HYWIN’S SUCCESS

Tom Burroughes of WealthBriefingAsia interviews Madame Wang Dian, CEO of Hywin Wealth.

Last year you won the award for Best I strive to balance all these goals and al- M&A outposts to benefit from the global flow of Wealth Manager of Greater China Families. ways try my best to do so. This award is both deals, funding, and information. This year you won Best Wealth Manager a generous acknowledgment and also an of Greater China. What’s changed since inspiration for me. Hywin’s international expansion is progress- then? ing exactly along this continuum, to handhold Hywin Wealth has achieved impressive clients as they branch into offshore investing I think that last year’s award pointed more growth over the last few years, culminating and financing, and to help them implement suc- to our high-quality UHNW client base and our in the company’s recent IPO. How do you cession plans for their family wealth and corpo- holistic services for these discerning families. plan to maintain this growth? rate interests across different jurisdictions. By It was a ringing endorsement of our client following and also guiding this diaspora of Chi- proposition. We currently serve around 5 per cent of nese wealth, Hywin is on track to build a global China’s high net worth clients. We strive to be franchise. Aiding us in our goal is our global The award this year recognises the institu- their trusted advisor, and hope to serve even collaboration partner, VP Bank AG. tional excellence of Hywin Wealth. Over the more of their peers in the future. We also past year, we’ve accelerated our internation- want to become the bridge between global How do you see women’s role in driving al expansion plans, and taken our company investors and opportunities in China, and the ESG agenda and do you think the public in the US, a major milestone for us. enter new markets where our expertise and pandemic will accelerate change? China connections can add value for local As a top three player in China’s indepen- clientele. In my view, the fundamentals of ESG are dent wealth management industry, we run 167 about balancing interests and looking after wealth service centers in Greater China and We will also expand our product offerings, all stakeholders. The pandemic has reminded employ around 1,700 relationship managers. especially in the asset management space. all of us that the world is immensely intercon- This award is a highly appreciated tribute to From EAM-based discretionary mandates to nected and that human welfare does indeed our position in the market and our impact on thematic funds, passive investing, and more, transcend GDP, profits, and lifestyles. the industry. we will continue to launch strategies under a variety of formats to help our clients capture Women, by instinct, take a holistic view We’re also the first independent wealth new opportunities, all the while guided by of their family’s and community’s interests, manager based in China to win this award, Hywin’s proven wisdom and foresight. both now and in the future. This broader pur- which shows the way the industry is trending. view makes women ideal champions for ESG We compete with banks, securities firms, as- We are investing heavily in digital transfor- causes. set management firms, etc., and we believe mation. Technology will enable anticipative that demand for independent wealth manag- mapping of client needs, stronger cross-sell- In my daily conversations with UHNW cli- ers like us will continue to grow. Chinese HNW ing, nimbler corporate functions, and a smart ents, I have seen female members take the clients, with their increased sophistication, risk regime - all crucial ingredients for our high lead in understanding ESG issues, seeking re- evolving risk appetite, and impending succes- quality growth. medial ideas, and - when investment decisions sion challenges, value impartial advice and are being discussed - bringing the ESG angles open-platform solutions. You mentioned that international expansion into discussions. ESG is not and should not be is part of Hywin Wealth’s growth plan. Can portfolio filters or thematic overlays, but rather Last year you won Woman of the Year in you explain the reasoning behind this? a systematic re-ordering of our pursuits. This Greater China Wealth Management. This elevation is, to a very large extent, powered by year you won Best CEO in Greater China At Hywin, we divide Chinese clients’ activi- women. Wealth Management. To you, what does ties into three spheres: onshore, cross-shore, this mean? and offshore. In the “onshore” home turf, they pursue entrepreneurial endeavors and tap into Our industry has always been a galaxy of local investment opportunities in China. stellar leaders. I feel truly flattered to receive this award. In the “cross-shore” gateway, i.e. Hong 2021 Kong SAR, clients seek international invest- BEST CEO IN GREATER CHINA WINNER WEALTH MANAGEMENT Wang Dian As the CEO of a listed company, I must live ment and financing opportunities with a strong 大中華區財富管理行業最佳CEO Hywin Holdings up to weighty expectations and uphold our China bias and China link, benefiting from the 王滇|海銀控股 fiduciary duties, whilst the nature of wealth convenience of having the same time zone management requires that I stay close to mar- and language. kets and even closer to our clients. And yet the pressing issues facing society - equality, In the “offshore” space, i.e. financial centers 2021 sustainability, and inclusive growth – calls for such as Singapore, London, New York, Zurich, BEST WEALTH MANAGER WINNER OF GREATER CHINA Hywin Holdings long-term thinking and immediate action. clients set up trading units, treasury hubs, and 大中華區最佳財富管理機構海銀控股 IN A CHANGING WORLD, WE LINK ENTREPRENEURS’ PERSONAL AND PROFESSIONAL INTERESTS.

As an entrepreneur, you can drive positive impact for the future with each business decision. To help you achieve your ambitions in line with your values, we bridge the professional and personal with solutions adapted to your needs.

Your wealth has a voice. Let it be heard.

The bank for a changing world

This advertisement is for informational purposes. It is not an offer for the purchase or sale of any financial instrument, investment product or service and should not be relied upon. You should seek your own independent advice accordingly. BNP Paribas, a French Société Anonyme with a capital of 2.499.597.122 Euros, Head Office 16 boulevard des Italiens, 75009 Paris, France, registered under number 662 042 449 RCS Paris, registered in France as a bank with the French Autorité de Contrôle Prudentiel et de Résolution and regulated by the French Autorité des Marchés Financiers. BNP Paribas Wealth Management, is a wholly owned subsidiary of BNP Paribas. It operates through its branches in Singapore and Hong Kong. © BNP Paribas (2021). All rights reserved.

BNPPWM_AD_WealthBriefingAsia_GreaterChinaAwards_MagazineInsertion_2021.indd 1 05/05/2021 13:37:19 ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 7

ONE BANK” APPROACH DRIVES GROWTH AT BNP PARIBAS WEALTH MANAGEMENT

Arnaud Tellier, CEO Asia-Pacific, BNP Paribas Wealth Management, talks to Tom Burroughes, Group Editor at WealthBriefingAsia.

What sets you apart from your peers this discretionary mandates and we were success- investment in people and technology. It has year and why? ful in on-boarding new clients which are key been inevitable that technology and people to sustainable business growth. Keeping with truly separates failure from success. The BNP Paribas Group has a strong heri- the demands of the time and the situation, we tage in the region with a presence dating back engaged our clients through virtual platforms What do you hope will be the result of to 160 years. BNP Paribas Wealth Manage- such as conference calls and webinars; pre- receiving this accolade? How does it help ment has been a leading private bank in Asia senting our views as a firm. All these could not your business in this region? for decades, with operations in Hong Kong, have been achieved without the energy and re- Singapore and Taiwan. Our wealth manage- siliency our teams put into rethinking the way We are very pleased and honoured to receive ment practice originates from a long history we operate and made working from home the five awards from WealthBriefingAsia. Award is of serving families and entrepreneurs in the new normal. the benchmark for excellence and it also reaf- region. firms our position as an industry leader. To us, How has your business and business it isn’t just about winning, simply being a final- BNP Paribas Wealth Management leverag- model reacted to the pandemic? Have you ist or shortlisted in an award category meant es a “one bank” approach to mobilise resourc- introduced new working practices that will that the industry recognizes our strength and es from the BNP Paribas Group by introducing endure? capabilities in the given space. These awards our clients to services provided by other busi- celebrate the hard work of our teams and mo- ness lines in addition to wealth management The COVID-19 outbreak has changed the tivate us to further improve through innovation, offerings. Our holistic approach ensures that way how business operates. Adoption of diversity, sustainable growth, client servicing, not only are clients able to tap into a com- digital processes and solutions that reduce people investment and strategic thinking to the prehensive suite of product and financing of- the need for physical interactions in main- benefit of our clients. ferings from wealth management, they also taining business as usual will remain after the benefit from our investment bank, real estate pandemic. or asset management services among others. The work from home experience offers a In the toughest of times, as we faced since trial run of digital working on a grand scale. I 2020, when strong banks are needed the most, believe it has shed new light on establishing a 2021 CREDIT PROVIDER WINNER we never waver in our long term support and remote workforce of the future and will revolu- BNP Paribas Wealth never lost sight of serving our clients. Client fo- tionalise the traditional mode of working. While Management cus is more important than ever in delivering COVID-19 has put to test human endurance on our promise, of staying connected to our across industries, it has also served a greater clients - providing them with the right guidance understanding of the digital working environ- and tools to facilitate their interactions with us ment which no amount of testing in simulation 2021 and importantly their wealth objectives. could have prepared teams to handle. HONG KONG DOMESTIC WINNER PRIVATE BANK BNP Paribas Wealth We have reacted quickly to embrace What lessons have been learnt that can be Management change leveraging on our digital ready infra- carried forward? structure and will continue to use digital tools in business and client interactions. In fact, we The pandemic has demonstrated the resil- embarked on a bank-wide digital transforma- ience of the human spirit; to be able to over- 2021 tion journey in 2017. come challenges and quickly adapt to the new IMPACT INVESTING WINNER BNP Paribas normal. Wealth Lastly, we are only focusing on what is Management important to our clients and in areas where At BNP Paribas Wealth Management we we are relevant and make a real difference have come across innumerable stories of by bringing value to all stakeholders. These adaptability and of ingenuity of our teams; awards are a true testament to our priorities. in being able to surmount challenges that 2021 NEXTGEN PROGRAMME WINNER might have ordinarily seem unsurmountable. BNP Paribas How have your colleagues contributed We have redefined workflows, streamlined Wealth Management towards the success of your organisation? our operations and rewritten the rules of engagement. Despite challenging economic conditions last year, our teams demonstrated exception- One of the major lessons from this crisis is al professionalism and kept a clear goal on to make business continuity plan an integral 2021 NRI OFFERING BY A PRIVATE BANK WINNER delivering when it mattered the most. Posi- part in our business plan; to take into account BNP Paribas Wealth tive momentum were made on advisory and all possible contingencies and the continued Management Private banking has never been so entrepreneurial.

First-class private banking solutions; comprehensive financial and investment offering; delivered one relationship at a time.

efginternational.com

EFG International’ s global private banking network operates in around 40 locations worldwide, including Zurich, Geneva, Lugano, London, Madrid, Milan, Monaco, Luxembourg, Hong Kong, Singapore, Shanghai, Sydney, Miami, Bogotá and Montevideo. In Singapore, EFG Bank AG’s principal place of business is located at 25 North Bridge Road, #07-00 EFG Bank Building, Singapore 179104, T +65 65954888. EFG Bank AG, Singapore Branch (UEN Number: T03FC6371J) is authorised as a licensed bank by the Monetary Authority of Singapore pursuant to the Banking Act (Cap. 19) and is an Exempt Financial Adviser as defined in the Financial Advisers Act (Cap 110). This advertisement has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, EFG Bank AG’s principal place of business is located at 18th Floor, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong, T + 852 2298 3000. EFG Bank AG, Hong Kong Branch (CE Number: AFV863) is authorised as a licensed bank by the Hong Kong Monetary Authority pursuant to the Banking Ordinance (Cap. 155) and is authorised to carry out Type 1 (dealing in securities), Type 4 (advising in securities) and Type 9 (asset management) regulated activities in Hong Kong. This advertisement has not been reviewed by regulators in Hong Kong. EFG Bank AG is a bank incorporated in Switzerland with limited liability.

2021_07_19_Wealth Briefing Asia Award SG 2021_210x297mm+3_EN.indd 1 19.07.21 12:22 ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 9

EFG OFFERS BLEND OF INDIVIDUAL INITIATIVE AND STRONG TEAM SPIRIT

Kitty Chou, North Asia Head of IAM at EFG, talks to Tom Burroughes, Group Editor of WealthBriefingAsia, about what has set her business apart this year.

How have your colleagues contributed What do you hope will be the result of towards the success of your organisation? receiving this accolade? How does it help your business in this region? “THE QUALITY AND While each member is seasoned and matured professionally and able to perform It is widely observed and recognized by the VARIETY OF his/her responsibilities independently, they financial industry that the growing number of always bear the organizational interest in the multi-family offices and private bankers OFFERINGS BY THE mind, respect and value the team spirit, and turned asset managers have called for a pro- care and support each other for the overall fessional and focused services and platforms INDEPENDENT ASSET organisational success. that are different from the traditional private MANAGERS HAVE banking. What are going to do to stay on the front ATTRACTED MORE foot in a fast-growing but also challenging The quality and variety of offerings by the region such as this? independent asset managers have attracted AND MORE INTERESTS more and more interests from the wealthy Listen not only to the client’s needs but families to hire independent wealth managers FROM THE WEALTHY also to the pulse of the market trend; antici- to look after their investments. FAMILIES TO HIRE pating, assessing, planning and preparing for the next to come. This phenomenon contributes to uplift the INDEPENDENT size of private wealth managed by the IAMs How has your business and business to a level where an increasing number of fi- WEALTH MANAGERS model reacted to the pandemic? Have you nancial institutions are encouraged to de- introduced new working practices that will ploy resources into a separate department TO LOOK AFTER THEIR endure? dedicated t the IAM sector. INVESTMENTS.” With the support of digitalization, new client We are grateful to be a team that has partic- interface, information dissemination … etc ipated in the IAM services from its very infant were introduced and implemented. stage and we are determined to play a contrib- uting role in its future growth in the region. These process inspired during the pandemic has become a part of regular operation process that facilitates business growth.

Has morale amongst your colleagues held up well during the pandemic? What have 2021 you done to bolster their spirits? DISCRETIONARY PORTFOLIO WINNER MANAGEMENT OFFERING EFG Asset Management Although the pandemic has hindered the human element of communication, the regular contacts via audio or video calls among the members to share thoughts and feelings provided stress relieving benefits and upheld 2021 EXTERNAL ASSET MANAGER (EAM) WINNER the bonding of the team. SERVICE PROVIDER EFG Bank

ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 11

STRONG GROWTHMOMENTUM SHINES AT HSBC PRIVATE BANKING Tom Burroughes, Group Editor at WealthBriefingAsia, talks to Siew Meng Tan, Regional Head of Global Private Banking, Asia-Pacific, at HSBC Private Banking.

What sets you apart from your peers this (WPB) and Private Banking (PB) accounts, What are the prospects for wealth year and why? HSBC PB internet banking, website and the management in the future bearing in Despite the unprecedented challenges of the mobile app. mind a new social and economic global pandemic, in 2020 HSBC Private Bank environment ahead? Asia recorded growth in client assets (16 per How have your colleagues contributed Clients are looking to diversify more of their cent), and investment revenues (25 per cent). towards the success of your organisation? assets, not just in the region, but globally. HSBC’s Private Banking business in Asia How has your business and business In terms of assets classes, they focus more attracted USD6.6 billion of net new money model reacted to the pandemic? Have you on discretionary and alternatives as they are (NNM) in Q1 2021, up 89 per cent year on year, introduced new working practices that will looking for yield also. comprising half of global NNM. endure? HSBC PB has a comprehensive advisory Refreshed UHNW proposition: Our UHNW At the start of COVID, the team worked close- offering, an open architecture platform com- Total Client Position (TCP) and revenues both ly with regulators and our WPB businesses, we prising a diverse range of quality global and increased YOY despite travel restrictions and quickly adopted remote engagement tools to boutique names, and an expanded investment market uncertainties. ensure we stay connected to our clients and team dedicated to constantly helping clients Leverage connectivity across HSBC to deliv- are able to as closely as possible, replicate the steer through foggy or choppy markets. We er a true continuum of services to our clients as face-to-face experience. have the ability to ensure our clients’ portfolio they grow their wealth, referral from CMB and We quickly adapted to work from home are diversified. GBM contributed 48 per cent of our net new arrangement, virtual meetings etc. In the UHNW space, clients are looking for money in 2020. The COVID “Work From Home” arrangement international connectivity supported by our un- In 2020, we raised a record $2.3 billion in Al- has been robust and dialogue has remained rivalled international network across Asia and ternative investments globally, surpassing the active to engage our clients even if not face-to- globally. full-year inflows seen in 2019 by over 90 per face, via zoom and telephone. Our aim is to be the leading international cent. In Asia, HSBC raised $1.341 billion for Thanks to the dedication and commitment wealth manager for HNW/UHNW for Asians alternative investments in 2020. of the team we continued to bring the best of globally – we recognize growing wealth on- Over the past two years, client assets in man- HSBC to our clients. shore but also offshore through the key diaspo- dates have increased by almost half as we con- HSBC is continuously looking into the future ras – we should see more activity/demand from tinue to invest in our advisory capability. This way of work to enable more flexibility for staff. China/India/ASEAN (both domestic/internation- steady annuity revenue our growth prospects al). They will want to grow and manage their Set up of Asia International Connectivity team What are you going to do to stay on the wealth wherever these are created and used. to connect clients’ international needs to our front foot in a fast-growing but also PB in the UK, Europe and US, and other parts challenging region such as this? What’s of HSBC including personal and commercial your investment into the business? banking. Our ambition is to be the #1 wealth manager To support HSBC’s build out in the ASEAN in Asia by 2025. 2021 region, we set up a new onshore private bank- In Feb 2021, we announced to invest over ALTERNATIVES PROVIDER WINNER HSBC Private ing business in Thailand and launched a ded- $3.5 billion in the next five years to accelerate Banking icated independent asset managers’ desk in the growth of our WPB business in Asia and Singapore to meet the needs of family offices drive its ambition to become the leading wealth and independent advisors managing wealth on bank in the region. Our investment is underway behalf of their clients. and we have made strong progress in Q1 2021. 2021 ALTERNATIVES PROVIDER WINNER We also recently launched the new Institu- The investment focuses on people, technology HSBC Private tional Family Office service in Hong Kong and and products across WPB. Banking Singapore, which allow single-family office We are investing to grow and lead especial- clients across Asia to access HSBC’s team ly in HNW/UHNW space and are significantly of investment banking specialists, armed with investing in products and solutions to deliver 2021 a full array of financing solutions and product a best-in-class wealth experience – in Hong ALTERNATIVES PROVIDER WINNER HSBC Private capabilities. Kong, mainland China and Singapore to reach Banking For Greater China, we expanded private clients onshore and those with assets globally. banking product shelf in Taiwan, Lombard With considerable wealth manufacturing Lending (margin lending) platform, BREIT and expertise across Global Markets, Insurance 2021 PB exclusive funds were launched and Asset Management, we have a material ALTERNATIVES PROVIDER WINNER HSBC Private To support clients’ philanthropic ambition, opportunity to bring the full breadth and depth Banking we organised the first community campaign of the Group’s capabilities to serve the more named “Mind Matters - A Hackathon for Social sophisticated investment and wealth planning Impact”, that aims to rekindle Hong Kong’s needs of Asian HNW/UHNW families and busi- can-do spirit by supporting local NGOs to nesses. 2021 ALTERNATIVES PROVIDER WINNER improve access to mental well-being services On digital, we are committed to providing first HSBC Private in Hong Kong as well as helping our clients class service to our clients with $100mm+ to Banking to achieve their wealth ambitions and make a be invested in the next two years covering core positive change to the communities. banking/digital platform and advisory engine. We continue to enhance client experience Clients will be served by best-in-class wealth 2021 through digitisation, i.e. real-time transfer teams supported by state-of-the-art digital ALTERNATIVES PROVIDER WINNER HSBC Private between Wealth and Personal Banking platforms. Banking WE FOCUS ON RESPONSIBLE FINANCE SO YOU CAN FOCUS ON SUSTAINABLE WEALTH.

Shaped by more than 145 years of experience supporting families and entrepreneurs around the world, Indosuez Wealth Management offers in Asia via its Hong Kong entity a tailor-made approach that allows its clients to build, manage, protect and pass on their wealth according to their goals and ambitions. In coordination with the Crédit Agricole group, its employees are committed to addressing environmental, social, and governance issues to pursue consistent progress and ceaseless value creation. Indosuez Wealth Management is the global wealth management Shaped by more than 145 years of experience supporting families and entrepreneurs around the world, Indosuez Wealth brand of the Crédit Agricole group and is present in Hong Kong via CA Indosuez (Switzerland) SA, Hong Kong Management offers a tailor-made approach that allows our clients to build, manage, protect and pass on their wealth Branch. As a whole, the Indosuez Wealth Management Group is present in 13 locations and counts 3’060 employees. according to their goals and ambitions. In coordination with the Crédit Agricole group, our 3,060 employees are committed CA Indosuez (Switzerland) SA, Hong Kong Branch - Incorporated in Switzerland with members' limited liability. to addressing environmental, social, and governance issues to pursue consistent progress and ceaseless value creation. 29th Floor, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong SAR ca-indosuez.com ca-indosuez.hk ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 13

INDOSUEZ WEALTH MANAGEMENT’S LONG-TERM MENTALITY

Arjan de Boer, Deputy CEO HK, Head of Markets, Investments & Structuring, Asia, Indosuez Wealth Management, talks to WealthBriefingAsia’s Tom Burroughes.

ndosuez Wealth Management is honoured sustainable bonds, green structured products and at times can be brutally honest, providing to win five of WealthBriefingAsia’s Great- as well as investment funds. We also have a mirror to oneself. We must always strive to Ier China Award categories, namely, Best mandates with a social and environment focus. be better and junior people, without the “bur- Bank for its ESG offering; Best Bank for Sus- Our offer is on par with the biggest player den” of experience, can shed an unbiased tainable and Responsible Investments; Best of the wealth management industry, from the and interesting light on various situations and Bank for its Private Equity offering; Best Bank management of our exceptional private equity choices one needs to make. for its Fixed income offering and Best Bank for offering to execution and distribution. We do this Diversity in Wealth Management. in-house, with dedicated teams of professionals Has morale amongst your colleagues held globally, which is unique to medium-sized pri- up well during the pandemic? What have What sets you apart from your peers in the vate banks. The diversity in wealth management, you done to bolster their spirits? Asia-Pacific region this year and why? ESG and SRI awards especially showcase the Through the ebbs and flows of outbreaks, At Indosuez Wealth Management, our fact that we always take a long term view. our teams have remained both united and strength is in our long-term philosophy. We We continue to maintain high expectations pragmatic accepting ever changing ways of hold a long-term view of our clients’ wealth and of our asset management, capital markets, in- working and venues to work at. In times like take a prudent approach in protecting, nurtur- vestment solutions, structuring and financing these, communication is even more important, ing and increasing their wealth sustainability. teams, who work hard in providing a high- so management has significantly stepped up To us, this is a marathon, not a sprint. We draw touch and personalised care and service to the frequency and channels of communication. upon our financial strength which has a 145- each client. year old tradition of exceptional personalised What do you hope will be the result of service. Our long-established network pro- What are you going to do to stay on the receiving this accolade? How does it help vides our clients with access to global exper- front foot in a fast-growing but also your business in this region? tise with local insights which allows us to craft challenging region such as this? Our five WealthBriefingAsia awards attest to personalised solutions tailored to their needs. Indosuez plans to continually grow, expand our strong expertise and presence in the region, We pride ourselves as a human-scale bank, and adapt to meet our clients’ expectations as a trusted partner of our current and future which allows for close relationships and ded- at various points of their financial investment clients. This is a wonderful recognition of the In- icated attention from Indosuez’s team mem- journey. We understand that their needs evolve dosuez team’s achievements and our focus on bers for each and every one of our clients. At with time, especially in a rapidly evolving land- sustainability and diversity. These wins will spur the same time, our clients have access to a scape such as the current Covid-19 pandem- us to continue to provide exceptional service, wide array of specialists, locally and globally ic. We must be ready to respond and adapt enhance our shared expertise, global coordi- as part of the Credit Agricole network which with the right support, training and advice. nation, and high-touch relationships with our is ranked 10th in the world based on assets. As one of the very early movers in the environ- clients today and in the decades to come. Essentially, we adopt a conservative ap- mental, social, and governance (ESG) space, proach that places client satisfaction as our we have in the last few years been providing cli- top priority. Winning no less than 5 awards in ents with detailed ESG scores in their portfolio the Greater China award categories encourag- statements. They form the basis of discussion es us to continue with our chosen approach. and our risk analyses of investment portfolios 2021 DIVERSITY IN WEALTH WINNER and investment-making decisions. Promotion MANAGEMENT Indosuez Wealth How have your colleagues contributed of sustainable investments to our relationship Management towards the success of your organisation? managers have also extended worldwide. Our team at Indosuez is guided by parent Furthermore, we are committed to continu- company Credit Agricole Group’s raison d’être ously enhance the portfolio offerings across our 2021 of “working every day in the interest of our divisions while placing Corporate Social Re- SRI OFFERING WINNER Indosuez Wealth customers and society”. This underlines our sponsibility (CSR) at the centre of our endeav- Management commitment and guides our actions in deliver- ours. CSR has always been and will continue ing excellent service which has earned us the to be the foundation of our strategic priorities. trust and responsibility to care for our clients’ 2021 financial health and investments. What have been the challenges you have FIXED INCOME OFFERING WINNER In line with Credit Agricole group, we have had to overcome to reach such a standard? Indosuez Wealth Management a strong commitment towards sustainable fi- Sometimes it can be tempting to look for nance as we believe that it can be an essential short term gains instead of staying focused lever to create a better and greener world. on our long term goals. Getting everyone on To that extent, our ESG expertise spreads board for the long haul can be a challenge. 2021 PRIVATE BANK ESG OFFERING WINNER from advisory to asset management and capi- Indosuez Wealth tal markets. Our understanding of environmen- Whom do you look to for inspiration and Management tal, social and governance issues helps us to ideas? assist our clients in building resilient portfo- My three children and more broadly the lios that can also comply with their personal young generation. They have refreshing ideas, 2021 aspirations. We have a unique ESG product give an insight in the thought processes of the PRIVATE EQUITY PROVIDER WINNER Indosuez Wealth selection that encompasses single stocks, new generation and what truly matters to them Management entrepreneurs.

Ants nurture and protect a $150 trillion industry - our forests.

And they never take a day off.

It’s time to see nature for what it really is, our most valuable industry.

Learn more about our natural capital strategy at LombardOdier.com

Investments are subject to a variety of risks. You should consult your investment advisor before entering into any transaction. Lombard Odier (Singapore) Ltd is a merchant bank regulated and supervised by the Monetary Authority of Singapore. ©2021 Lombard Odier

LO_WealthbrSG_Entrepr_210x297.indd 1 06.05.21 08:55 ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 15

SERVING ASIA’S FAMILIES ACROSS ALL DISCIPLINES AT LOMBARD ODIER

Lee Wong, Head of Family Services, Asia, Lombard Odier talks to WealthBriefingAsia’s Tom Burroughes after the firm achieved success in the awards.

What sets you apart from your peers this sensitive touchpoints and succession chal- a force for good. As client needs and fami- year and why? lenges for families such as alignment of ly dynamics increase in complexity, so must multi-generational aspirations, resilient com- institutions that serve them evolve. Family Services at Lombard Odier is a munication, grooming of entrepreneurial next pure advisory practice comprising three core generation and responsible stewards. Whom do you look to for inspiration and area of focus – wealth planning, family gover- ideas? nance and philanthropy advisory. What sets I believe if we stay on course in being rel- us apart from our peers is that we approach evant in supporting our clients in their wealth At times, I gain inspiration and ideas from family governance from a multi-disciplinary journey, we will remain on the front foot, my interaction with my son. Social thinking perspective. regardless how challenging a region this is. concepts and perspective taking that we practice can be useful strategies to integrate We focus on both the hardware and soft- What lessons have been learnt this past in family forum facilitations. ware necessary for best family governance year that can be carried forward? practices to flourish. While assisting families Hearing his point of view and considering to put in place legal structures for wealth tran- What I have learnt this past year is the im- the vantage point of a younger person also sition, we also support them to build their soft portance of being adaptable. When you ac- gives me a fresh perspective with regards to capital through family forums curated to facil- cept the chaos and the uncertainty around bridging generational differences. itate open and honest dialogues on pertinent you and focus on the resources that are avail- family issues. able to you instead of what is not, you will be able to find ways to work around limitations In the process, they are able to formulate and adapt your practice accordingly. a framework for effective decision-making, sharing of the family wealth in a structured Another lesson that I have learnt is being “HELPING CLIENTS TO way and proper resolution of family conflicts. earnest and authentic builds more meaningful and robust relationships, be it with family, NAVIGATE INTIMATE How have your colleagues contributed friends, business partners or clients. towards the success of your organisation? FAMILY ISSUES GIVES Have your differentiators become more US AN OPPORTUNITY Matters that our family services team work important / relevant to your business? on with our clients often relate the heart. Help- TO BUILD MEANINGFUL ing clients to navigate intimate family issues Besides challenges that families face in gives us an opportunity to build meaningful family business transitions as a result of RELATIONSHIPS WITH relationships with our clients and a mean- technological disruption, the changing social ingful relationship invariably translates into a and economic landscape also add a different OUR CLIENTS AND profitable one. dimension to wealth transition. A MEANINGFUL RELA- Referrals from our clients is a further tes- Bridging diversity between current and next TIONSHIP INVARIABLY timony of how my team’s time and effort is generations and navigating increasingly com- worthy. In the course of orchestrating an plex family issues make our differentiators TRANSLATES INTO A appropriate solution for our clients, we col- become even more relevant to our business laborate with external business partners, but today. PROFITABLE ONE.” more importantly we collaborate with other teams across different functions and across What are the prospects for wealth different geographies as one team, which un- management in the future bearing in mind doubtedly contribute towards the success of a new social and economic environment our organisation. ahead? What are going to do to stay on the front Prospects for wealth management in the 2021 foot in a fast-growing but also challenging future are bright for institutions that embrace PRIVATE BANK FOR FAMILY WINNER Lombard Odier region such as this? bespoke advisory service. Despite the pan- GOVERNANCE SERVICES demic, statistics have shown that the rich are Wealth transition is only at the tip of the ice- getting richer. berg in Asia. There is much to be done and many families to serve. At Lombard Odier, Also, the rising next generation are be- we will continue to focus on delivering exem- coming more socially conscious and aware plary advisory services that aims to address of the responsibility and power of wealth as Hong Kong Singapore Taipei Shanghai

#CreatingTrueValues

www.raalesgroup.co ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 17

DELIVERING IMPARTIAL, PERSONALISED SERVICES FOR UHNW FAMILIES IN ASIA

Kwan Chi Man, Chief Executive and Founder of Raffles Family Office, talks to Tom Burroughes, Group Editor of WealthBriefingAsia, on what has set his business apart.

affles Family Office (RFO) is an spearheading the launch of the Family Office What are you going to do to stay on the award-winning multi-family office with Association of Hong Kong, and appointing of front foot in a fast-growing but also Ra comprehensive suite of services for an Independent Advisory Board to mitigate challenging region such as this? ultra-high-net-worth individuals and families. loss of wealth from family disputes and fa- As an integrated platform that encompasses cilitate more philanthropic endeavors in the For one, we have doubled down on our independence, advisory expertise and a vast region. push for independent advice through the network of top financial institutions, we deliv- creation of an external advisory board to help er bespoke wealth preservation solutions and Through these initiatives, we feel we have families better manage complex intergen- build lasting family, investment, and opera- played a key role in helping shape and erational wealth transfers and channel their tional governance structures for families. strengthen the Greater China Family office wealth towards charitable endeavors. This industry and look forward to making further push will continue as we appoint additional RFO is headquartered in Hong Kong and strides in the years to come. members to the board. maintains a presence in numerous locations across Asia, including mainland China, Have your differentiators become more At the same time, Raffles Family Office Taiwan and Singapore. important to your business? Are they still has been strengthening its capabilities in the relevant? alternatives space and has also developed What sets you apart from your peers this distinctive expertise in the areas of new en- year and why? As a Hong Kong-headquartered, pan-Asia ergy, biotech and financial inclusion tech- family office with locations in Taiwan, Singa- nology investments. These efforts will put We launched Raffles Family Office with pore and mainland China, we are very much us in a promising position when catering to a vision to create a truly impartial, highly in a class of our own as far as our sector the beneficiaries of the vast intergenerational personalised and locally attuned means of is concerned. This early push we made to wealth transfers taking place across Asia at supporting the wealth growth and preserva- establish a regional presence has paid off the moment. tion needs of ultra-high-net-worth families in during the pandemic as it allows us to offer Asia, with an emphasis on the Greater China more holistic views on developments across region. the region and give our clients access to an Asia-wide network of banking partners that Over the last year, we overcame the chal- ensures they can capture the most suitable lenges imposed by the pandemic to make im- investment opportunities across the continent 2021 portant strides towards achieving that vision in line with their wealth goals without needing INDEPENDENT WEALTH MANAGER WINNER Raffles Family through the opening of a Shanghai office, to travel. Office

“WE LAUNCHED RAFFLES FAMILY OFFICE WITH A VISION TO CREATE A TRULY IMPARTIAL, HIGHLY PERSONALISED AND LOCALLY ATTUNED MEANS OF SUPPORTING THE WEALTH GROWTH AND PRESERVATION NEEDS OF ULTRA-HIGH-NET-WORTH FAMILIES IN ASIA, WITH AN EMPHASIS ON THE GREATER CHINA REGION.” HNW_NRG_A_Bleed_Mask

RBC Wealth Management

Trust in your future.

Wealth planning solutions for Asia’s Global Families

Global families need global advice. We can help you navigate cross-border complexities. Our solutions are tailored around your goals and needs, giving you peace of mind.

Our team consists of both global and local experts with strengths across wealth planning, transfer of assets between generations, regulatory and legal environments.

Let’s talk what matters to you.

Learn more on www.rbcwealthmanagement.com

This advertisement is published by RBC Wealth Management and does not constitute an offer of product or service to any person in any jurisdiction to whom it is unlawful for RBC to make such an offer. RBC Wealth Management is the global brand name to describe the wealth management business of the Royal Bank of Canada and its affiliates and branches, including Royal Bank of Canada, Singapore Branch, Royal Bank of Canada, Hong Kong Branch and RBC Investment Services (Asia) Limited. Royal Bank of Canada is duly established under the Bank Act (Canada), which provides limited liability for shareholders.

®/™ Trademark(s) of Royal Bank of Canada. Used under license. ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 19

CROSS-BORDER EXPERTISE REAPS DIVIDENDS IN ASIA FOR RBC WEALTH MANAGEMENT

Vivian Kiang, Head of Wealth Planning, RBC Wealth Management, Asia, talks to Tom Burroughes, Group Editor of WealthBriefingAsia, about the success of this large firm.

Which client segments do you focus on? cal knowledge, networks and language we have onshore and offshore solutions for skills to provide holistic solutions for these clients and this part of our service is a real RBC Wealth Management is uniquely po- international clients. differentiator. sitioned to service clients in Asia who have international ties with Canada, the US or Conversations about wealth planning are It’s far easier to arrange offshore struc- the British Isles as a result of business in- always held early in our client relationships, tures for clients in Asia because taxation and terests, employment, property, education or where relationship managers lead with dis- wealth structures are typically more straight- relocation. covery to help us understand the client’s forward. But arranging onshore structures to needs, identify issues and ultimately provide hold different assets in the U.S., Canada and The trend for wealthy cross-border fami- better solutions. the British Isles is not so simple. lies to split their time and business interests between multiple jurisdictions is only increas- As a provider of wealth planning which Our wealth planning teams collaborate ex- ing, and this brings complications in terms of spans across generations, our clients take tremely effectively around the world, and RBC asset structures and other financial require- comfort in the assurance that RBC has one of Wealth Management can leverage this global ments involving more than one tax or legal the highest quality balance sheets, a strong expertise to provide structures that are truly system. liquidity position, and that we take an active international and long lasting. approach to managing risk. These challenges cannot be resolved with any single banking product, but require com- Can you outline some of the wealth plex, multijurisdictional, dynastic planning, planning complexities which may arise for which RBC Wealth Management Asia specia- international families? lises in providing for clients through offshore 2021 and onshore solutions. RBC Wealth Management provides wealth CORPORATE SOCIAL WINNER RESPONSIBILITY Royal Bank of planning solutions during a client’s lifetime Canada Please describe your wealth planning and we also address beneficiaries’ needs services and arrangements after a client’s lifetime.

Our wealth planning solutions are an im- This is especially important for clients with portant part of our offering for Asia’s glob- beneficiaries in the US, UK and Canada as 2021 al families and our teams across Asia, the the arrangement will impact their tax position WEALTH PLANNING TEAM WINNER Royal Bank of British Isles, the U.S. and Canada use lo- in those jurisdictions. RBC is unique in that Canada

“AS A PROVIDER OF WEALTH PLANNING WHICH SPANS ACROSS GENERATIONS, OUR CLIENTS TAKE COMFORT IN THE ASSURANCE THAT RBC HAS ONE OF THE HIGHEST QUALITY BALANCE SHEETS, A STRONG LIQUIDITY POSITION, AND THAT WE TAKE AN ACTIVE APPROACH TO MANAGING RISK.” Stephenson Harwood is a law firm with over 1100 people worldwide, including more than 180 partners. We are an elite private wealth specialist legal team with the necessary depth and breadth to advise individuals and families on their personal affairs and succession planning.

Contact us Visit www.shlegal.com to learn more or contact us at [email protected] ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 21

SETTING THE PACE FOR FAMILY WEALTH ADVISORY WORK IN ASIA

Kevin Lee, Head of Private Wealth (Greater China) at Stephenson Harwood, talks to WealthBriefingAsia’s Tom Burroughes on how it reached award-winning level.

What sets you apart from your peers this areas such as mental competency and undue dictional issues. We will continue to work on the year and why? influence. This provides an interesting counter- cohesiveness amongst our offices, which will We are one of the very few firms in Asia that point with another segment of our clients who ensure that clients get the advice and support specialises in family wealth advisory work. Be- embrace the digital revolution and who seek they need from both local expertise and global ing one of the earliest international firms to es- our guidance on a variety of legal issues related perspectives. tablish offices in China, Stephenson Harwood to electronic data or security or privacy or online continues to have a strong presence in the transactions as well as digital assets. Has morale amongst your colleagues held region. By having a network of offices in Asia, up well during the pandemic? What have including Hong Kong, Shanghai, Singapore What have been the challenges you you done to bolster their spirits? and Dubai, coupled with the continuing support have had to overcome to reach such a We are no different from others facing a sec- from the London and Paris offices, this puts us standard? ond year of restrictions. It has certainly been in an ideal position to offer services to multi- We are undoubtedly living in a time of uncer- challenging but we continue to offer flexible work jurisdictional clients. tainties, and we have had to be flexible in our arrangements to addresses the needs and pref- On top of the core private wealth pillars like advisory work. With clients increasingly hedg- erences of our colleagues. Our London head trust, tax, wealth and estate planning, our real ing their options and moving their wealth and office has also spearheaded various programs estate practice continues to be strong, and family members around the world, we need to to promote mental health and offering counsel- we are adding new capabilities in relation to be able to offer advice keeping options across ling and wellbeing resources to make sure that ESG, strategic philanthropy and digital assets. different jurisdictions open, and to be prepared our colleagues feel more comfortable talking Contentious trust is another strength. to respond to changing circumstances along- about mental health topics and have access to Being a full-service firm, we are also able to side our clients. This is one of the reasons why such support. Our emphasis on diversity and take on clients with needs beyond the above we are building on our strengths in Singapore inclusiveness also helps to bolster spirits. services and across our different practice ar- and Dubai, whilst remaining strong in the Great- eas. This includes advising clients on pre- and er China region, so that wherever our clients What are the prospects for wealth manage- post-IPO trusts, and specialist advice in relation are, we can provide seamless support across ment in the future bearing in mind a new to digital assets, yachts and art. the different regions. social and economic environment ahead? Our ability to stay in close contact with our Wealth management should continue to be clients the past year, where travel and in-per- How has your business and business a very relevant and even a growing practice son meetings have not been possible, is a true model reacted to the pandemic? Have you area. We expect family relocation to increase, testament to the close relationships and level introduced new working practices that will and ESG objectives are trending. We are see- of trust we have built with our clients and inter- endure? ing also new tax initiatives being introduced mediaries. Thanks to our IT and support departments, across jurisdictions partly to deal with budget our office was able to switch to work from home deficits as a result of the pandemic. As a re- How have your colleagues contributed whenever needed in the past year. We have sult, we have to be alert for changes in the legal towards the success of your organisation? maintained this flexible work arrangement even landscape and always take a nimble and aware The private wealth (PW) team has always though the COVID-19 situation has now started approach in advising private clients. worked closely and our members look out for to improve. (We even introduced “dress for the each other, and this spirit is not limited to our day” for every day to reduce the need for laun- Whom do you look to for inspiration and colleagues in Greater China but is also manifest dry!) It’s a work in progress but we continue to ideas? in our collaborations with PW colleagues across explore the prudent but sensible measures we Our team members are inspired by numer- the region, including in Singapore and Dubai, should take to balance against different needs ous personalities and ideas. I happen to value as well as with our London head office. We are and risks. insightful and intelligent writers and musicians pleased that the travel restrictions in the past year from all cultures, though that may be a rather have not impacted this global cohesion, and our What lessons have been learnt that can be tenuous connection to wealth practice. frequent video get-togethers across offices have carried forward? helped maintain a sense of togetherness. It is cliché but it always comes down to peo- What do you hope will be the result of ple and teamwork. The past year has proven receiving this accolade? How does it help What are going to do to stay on the front how crucial it is for a team to look out for each your business in this region? foot in a fast-growing but also challenging other’s wellbeing, ambition and objectives. With the growing number of family offices region such as this? That is the only way to grow together as a team in Asia, and the global generational transfer of We are building up the teams in Greater Chi- during these trying times, which ultimately wealth, we are delighted to receive this award na as well as Singapore to better service our boosts the performance of our business. which recognizes our dedicated work support- clients across the region. As a firm, we are in- ing our clients in an increasingly competitive creasing our focus on ESG, and this is certain- Have your differentiators become more space. We hope this award will further show- ly so within our PW team as we serve clients’ important to your business? Are they still case our commitment to the wealth practice in needs in relation to impact investing and stra- relevant? the region. tegic philanthropy. We also aim to continue our Yes they are more relevant than ever. With wholistic family advice, and will offer full suite the rise of populism and even nationalism, family advisory service to family offices and indi- there have been many stresses against a fully viduals, ranging from taxation, compliance and integrated global economy. This is creating new relocation to family governance. With part of our challenges for our clients, who usually have 2021 client base moving naturally through the aging assets and family members around the world. FAMILY WEALTH ADVISORY WINNER OFFERING Stephenson process, we have also developed expertise in More clients are seeking advice on multi-juris- Harwood THE DRIVE YOU DEMAND

THINKING OUT OF THE BOX. TO BRING YOU THE RIGHT SOLUTIONS.

We want to extend our warmest thanks to all our clients for their trust and support, which has enabled us to develop the high-quality wealth management services that have earned us recognition of “Best Pure Play Boutique Private Bank” at the WealthBriefingAsia Greater China Awards 2021, for the third time in a row.

Wealth & Asset Management | Treasury & Trading | www.ubp.com

UBP is authorised and regulated in Switzerland by the Swiss Financial Market Supervisory Authority and is authorised in the United Kingdom by the Prudential Regulation Authority. UBP is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority; it is a licensed bank regulated by the Hong Kong Monetary Authority (HKMA) and a registered institution regulated by the Securities and Futures Commision (SFC) in Hong Kong for Tyoe 1, 4 & 9 regulated activities; and is regulated as a bank by the Monetary Authority of Singapore, is an exempt financial adviser under the Financial Advisers Act (Cap. 110 of Singapore) to provide certain financial advisory services, and is exempt under section 99(1) of the Securities and Futures Act (Cap. 289 of Singapore) to conduct certain regulated activities. This advertisement has not been reviewed by the Monetary Authority of Singapore. Union Bancaire Privée, UBP SA is incorporated in Geneva, Switzerland, with limited liability. ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 23

A PURE PLAYER IN WEALTH MANAGEMENT WORKS FINE FOR UBP

Tom Burroughes, Group Editor at WealthBriefingAsia, talks to Eric Morin, Head of North Asia and Hong Kong Branch Chief Executive, Union Bancair Priveé.

What sets you apart from your peers this offering agility and highly customised solution with these unexpected challenges quite well. In year and why? which suits our UHNW clients especially amid fact, we believe that the past year has made us What makes us unique is the way we ap- volatility. We have embarked on a discretion- stronger, individually and as a business. The re- proach the business. It is related to where we ary portfolio management development plan, cruitment drives carried out in 2020, the net new come from, the bank’s DNA. We are a pure which will be a significant driver of the business money inflows as well as the numerous product player in wealth management, focused exclu- this year, as DPM showcases our asset man- launches show how, far from merely reacting to sively on one core activity, namely global wealth agement and money management capabilities the shifting circumstances, the past year was a and asset management. We are dedicated to - essentially the DNA of UBP. time of active expansion for UBP Asia. our clients, paying particular attention to helping and protecting their portfolios in turbulent How has your business and business What are the prospects for wealth markets. model reacted to the pandemic? Have you management in the future bearing in mind Another differentiation is our longer-term introduced new working practices that will a new social and economic environment view. We endeavor to build long-term relation- endure? ahead? ships with our clients with a portfolio approach Our business model has proven to be solid We believe that the social and economic and not a product approach. We have a clear in view of the challenges that the pandemic has environment ahead will accelerate the ongoing sense of risk management, which goes with presented us with. The new working practices shift towards specialisation in wealth manage- long-term returns on portfolios. We do not just that I expect to endure are remote working and ment. Clients will increasingly require tailored sell products. virtual client seminars, which will coexist with investment solutions and specific advice, as Team spirit is very strong at UBP, to the point office-based work and face-to-face meetings. opposed to requiring products. Therefore, where clients are served by front office staff, The past year has opened our eyes to the po- pure-play firms focused on providing excellent investment specialists and support functions. tential of these remote working tools, and we service in the long term should be well placed. Alongside a diverse product offering, including will keep using them to optimise our produc- Additionally, I expect comprehensive risk private market investments, hedge funds and tivity and our workflow. With the process of management solutions to grow in importance, private equity, these traits have allowed us to digitisation accelerated by the pandemic, we together with access to alternative asset class- stand out among our peers. believe that the operational and technological es and portfolio diversifiers. In terms of social Last but not least, we pursue a one-bank changes implemented last year to deal with the environment, there will be a generational shift model whereby we deliver an integrated offer- pandemic are going to keep bearing fruit. in asset owners, presenting us with young- ing with our asset management arm, allowing er clients who are tech-savvy, well informed us to gain substantial traction with clients who What lessons have been learnt that can be and price-sensitive. Thus, while the need for need an institutional-style solution - for exam- carried forward? wealth management services will increase, the ple, a dedicated fund registered in another The most important lesson that has been industry will become even more competitive. jurisdiction with assets hosted by our asset learned is to be resilient come what may, and management division. Proposing institutional that even the most negative and disruptive What do you hope will be the result of solutions to our clients is a key differentiator and events can lead to positive transformation, such receiving this accolade? How does it help an important component of our success. as the remote working capabilities coming out your business in this region? of the pandemic. Further, I think that this pan- I would expect that winning this award gives What are going to do to stay on the front demic has reminded all of us to stay close to our us better visibility and brand awareness, allow- foot in a fast-growing but also challenging founding principles and remain agile, for agility ing us to attract talented people and create region such as this? is one of the key strengths that has helped us interest among potential clients. Clients pay Asia remains the fastest growing region and come out reinforced from a year like 2020. attention to brand quality and brand names, so talent is critical to capture ongoing growth op- we want to become better known in the wealth portunities. In Hong Kong, we have been boost- Has morale amongst your colleagues held management arena. ing our capabilities by adding staff and have up well during the pandemic? What have The award is a recognition of success, which increased our team of relationship managers you done to bolster their spirits? doesn’t come by coincidence. It’s the result of by around 27 per cent over the past four years. Morale has held up remarkably well con- strategy and teamwork. We want to be sustain- We are highly selective in recruitment and will sidering the numerous constraints and chal- able in the quality of what we deliver to clients, continue to focus on experienced relation- lenges that our colleagues were, and still are, so being the first in our category means a lot. ship managers, who understand client needs confronted with. The support we received from and can effectively leverage our investment our Group in terms of business continuity and expertise in building the right solutions for them. HR proved to be immensely valuable, as was In response to market dynamics and clients the work done by our IT teams to make the demand, we continuously broaden our private switch to remote working virtually seamless. markets offerings and invest in new product Our colleagues showed an admirable degree of 2021 capabilities, including flow product capabilities resilience and adaptability. PURE PLAY BOUTIQUE WINNER PRIVATE BANK Union Bancaire (both in structured products and in FX). It is no exaggeration to say that our cor- Privée In the meantime, we continue to focus on porate culture and values aided us in dealing

ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 25

WITHERS HAS SCALE, EXPERTISE TO STAY AHEAD OF ITS RIVALS

Katie Graves, Partner at Withers, talks to WealthBriefingAsia’s Group Editor, Tom Burroughes, about the qualities that have shone at the law firm.

What sets you apart from your peers in the ents with much needed thought leadership via We continue to work closely with clients on Asia-Pacific region this year and why? podcasts series and a stream of webinars to complex matters, including considering the fu- ensure steady updates on current issues and ture of impact investing as well as environmen- Withers has more than 40 international pri- regulations. This includes interactive webinars tal, social and corporate governance (ESG) vate client specialists in Asia; making it the in which our private client and tax lawyers topics. largest team of its kind in the region. Clients collaborate across global offices to share income to us for quality advice on identifying the sights and expertise on cross-border wealth Whom do you look to for inspiration and most appropriate holding and management management issues. ideas? mechanisms to meet their family’s objectives from both an international and domestic Defining Moments: stories of success As a global community, we are constantly perspective. inspired by the rich diversity in the jurisdictions In meeting our clients’ global interests, we To showcase the successes and achieve- we work in. This guides our ethos of diversity have lawyers qualified in major jurisdictions, ments of our clients and key contacts - as and inclusion which is deeply embedded in our including Singapore, Hong Kong, UK, US, BVI, well as explore some of the challenges they culture. Having a diverse workforce at all levels Australia, India, New Zealand, Japan and Italy. have overcome on their way to success – we within the firm has long been an essential guid- Clients can receive multijurisdictional and in- launched our Defining Moments campaign to ing principle for us. We aim to ensure that all tegrated legal and tax advice quickly with no illustrate many of the services we offer to cli- staff can bring their full selves to work and excel time lag. ents. We were able to create a rich peer-to-peer in their role. Clients can leverage our unparalleled exper- environment that consists of featured interviews We have been topping the tables for the pro- tise in commercial, tax, trusts, estate planning, with high profile media publications and pod- portion of women and LGBT employees and financial services, litigation and arbitration, cast series on Apple Podcasts and Spotify for partners for the last 20 years. We are proud that real estate, charities, philanthropy, employ- leaders and founders from all backgrounds, 44 per c ent of our global partnership are fe- ment, family law and other legal issues facing and communicate the wide variety of innovative male and half of our partnership board is made individuals and their families. and forward-thinking individuals and business- up of women. Also, 66 per cent of our global We also have the largest team of US qual- es we work with across the firm. workforce is female. The UK Solicitors’ Regu- ified private client lawyers based full-time in We ran an exceedingly popular podcast that lation Authority requires us to survey UK staff Hong Kong, Singapore and Tokyo. Clients rely aimed to bring clarity to modern relationships. each year and of those who have disclosed on us for US income and estate tax, grantor From starting off a relationship on the right foot their diversity information, 25 per cent of our trust planning, double tax treaties, corporate and establishing clarity about finances, to man- global employees are BAME and 4 per cent are tax, voluntary disclosure and expatriation aging the inevitable arguments that will come LGBT. advice. along the way, to dealing with separation if that occurs, our renowned UK host and broad- What do you hope will be the result of How have your colleagues contributed caster Mariella Frostrup discussed methods in receiving this accolade? How does it help towards the success of your organisation? choosing the right path for the individual and your business in this region? the family. Each podcast featured insights from We work as a global team, and our reputa- our deep bench strength of family lawyers as These accolades are a testament to our ex- tion as a thought leader allows us to engage well as industry experts including Penny Man- cellent work and it would not have been possi- businesses and the wider legal community in sfield of relationship science charity One Plus ble without the strong support of all our clients, forums and discussions, and generate ideas One. The series is made available on Google for which we are very grateful. Our relationships and solutions. Podcasts, Apple Podcasts and Spotify and re- with clients are what make us stand out from What further sets us apart from our com- ceived media coverage on Tatler, OnePlusOne the competition and be recognised as the lead- petitors is that we typically act for the creators and Vanity Fair. We also partnered with Vanity ing player in the private wealth sector. We strive of the wealth and their families, and focus on Fair on a related video series, ‘The Vanity Fair to constantly improve and to provide excellent developing long term relationships with those Future Series: The Future of the Relationship’ legal advice and service to our clients. clients across all our offices. We also advise that tied back to our podcast campaign. Pod- their businesses, establishing ourselves as the cast Series: Withers talks: founders counsel. top law firm focusing on private capital. We ran yet another highly successful podcast series about founders at the top of their What are you going to do to stay on the game advising other founders on issues that front foot in a fast-growing but also are very relevant to family offices. Host Doug 2021 challenging region such as this? Mandell drew on his experience as consigliere WEALTH MANAGEMENT WINNER RISING STAR UNDER 40 Withers to many well-known Silicon Valley founders and Alex Chung As a market leading adviser in the private operators as well as his background as general client space, we are at the forefront of issues counsel to startups (including the first General impacting our clients. Our campaign aims Counsel at LinkedIn) to facilitate the discussion. to reinforce our branding and reputation in Prolific guests included Robin Chan (General this space. Embracing the new age of virtual Partner at Goat Capital, Special Advisor at Bird, 2021 EXCELLENCE IN SERVICING NORTH WINNER thought leadership As the COVID-19 pandem- Angel Investor in Alibaba, Bird, Twitter, Square AMERICAN CLIENTS (SUPPORTED Withers ic evolved and impacted the way businesses and Xiaomi, Advisor at Flipboard, Uber and BY FAMILY WEALTH REPORT) operated globally, we continue to provide cli- Expa).

For more information, please visit www.zhonglun.com.hk

China's Leading Business Law Firm Over 360 partners and 2,300 professionals across 18 offices in China and around the world

Zhong Lun Private Client Practice is Leading Firm in Private Client (Tax, Trusts, Wealth Management, Contentious Probate) unique in combining market leading Hong Kong- (Legal 500 Asia Pacific Guide 2021) based private client practice and PRC legal and tax Law Firm of the Year – Hong Kong & Singapore practice in the same firm. We are best known for (Citywealth IFC Awards 2021) helping high net worth clients navigate through Wealth Management Law Firm of the Year, ALB China Law Awards 2021 complex legal and tax issues; many of which are Private Wealth Management (International multi-disciplinary and multi-jurisdictional covering Firms) Band 1 (Chambers HNW Guide 2020) China, Hong Kong, Canada, US, UK, among others. PRC Firm, Hong Kong Office of the Year (ALB Hong Kong Law Awards 2020)

Leading Firm in Tax and Trusts (Legal 500 Asia Pacific Guide 2020) For more information, please visit us at www.zhonglun.com.hk

We are reachable here: E: [email protected] T: +852 2877 3088 4/F Jardine House, 1 Connaught Place, Central, Hong Kong. F: +852 2525 1099

ACCLAIM | WealthBriefingAsia Recognises Leaders Across the Global Wealth Management Industry 27

DEPTH, BREADTH OF EXPERTISE PROVES WINNING DIFFERENCE FOR ZHONG LUN

Tom Burroughes, Group Editor of WealthBriefingAsia, talks to Clifford Ng, Partner at the law firm Zhong Lun. He is focused on the private clients area and is based in Hong Kong.

lawyer honoured with a lifetime “There are a lot of foreign firms in this mar- wave. So long as that continues to happen, achievement award from this publi- ket and not all of them make money and are Hong Kong will be a beneficiary. We need to A cation argues that his Hong Kong- heavily subsidised by their home offices,” Ng stay nimble and tenacious,” Ng added. based practice has an edge over many local continued. “We are probably one of the larg- and international competitors because of the est teams in Hong Kong and regionally that breadth of its expertise, and close Chinese does this kind of work.” links. One quality of the firm is that it has the Clifford Ng, a partner at Zhong Lun in capacity to address a range of client needs Hong Kong, has seen some of the changes in-house, he said. “Some firms tend to be going on in the Asian jurisdiction and main- just focused on trusts and tax and many in- land China, and says Hong Kong will prosper ternational firms do not see private clients as while it continues to ride the wave of China’s a practice focus.” economic dynamism. There’s a definite pivot going on in Hong Zhong Lun is a big firm. It has more than Kong, a former UK colony, since the hando- 360 partners and over 2,300 professionals ver of 1997 and that process has accelerated. working in 18 offices in Beijing, Shanghai, Shenzhen, Guangzhou, Wuhan, Chengdu, “Hong Kong is going to be more of a do- Chongqing, Qingdao, Hangzhou, Nanjing, mestic market and there will be less relative Haikou, Tokyo, Hong Kong, London, New dominance by foreign firms,” Ng said. More York, Los Angeles, San Francisco and Almaty. Chinese banks and brokerages are getting in- Within the Hong Kong office, there are about volved in the busy IPO market in Hong Kong, 50 lawyers. This is very much a business that he said. Clifford Ng emphasises how it has boots on the ground. Partner Reflecting on the award in what has been Zhong Lun “We are a China-based firm and that a tough time because of COVID-19, Ng makes our business a bit unique,” Ng told said: “To adjust to all the changes has been WealthBriefingAsia in a recent interview. “A lot a challenging year for everybody. We have of new wealth is coming out of China, both been focused on anticipating clients’ needs domestically generated and also from off- and staying in front of what they are thinking shore. The space has opened up for PRC about.” firms to provide a `one-stop-shop’.” 2021 “The award is very much a team effort and LIFETIME ACHIEVEMENT WINNER Zhong Lun Ng joined the firm a decade ago. “Banks we are nothing without each other,” he said. Law Firm were starting to ask for PRC tax opinions Clifford Ng around structures. That was the primary “We have been lucky here in Hong Kong driver for me to join a PRC shop,” he said. in being able to ride the Chinese economic

“HONG KONG IS GOING TO BE MORE OF A DOMESTIC MARKET AND THERE WILL BE LESS RELATIVE DOMINANCE BY FOREIGN FIRMS. MORE CHINESE BANKS AND BROKERAGES ARE GETTING INVOLVED IN THE BUSY IPO MARKET IN HONG KONG. TO ADJUST TO ALL THE CHANGES HAS BEEN A CHALLENGING YEAR FOR EVERYBODY. WE HAVE BEEN FOCUSED ON ANTICIPATING CLIENTS’ NEEDS AND STAYING IN FRONT OF WHAT THEY ARE THINKING ABOUT.” 28 ACCLAIM | JULY 2021

WEALTHBRIEFINGASIA GREATER CHINA AWARDS WINNERS 2021

WINNERS: PRIVATE BANKING CATEGORIES

WINNER: OVERALL REGIONAL PRIVATE BANK WINNER: NRI OFFERING BY A PRIVATE BANK