Hong Kong – Bank of China in Hong Kong (BOCHK) has launched a new premium Private Wealth service, which offers prestigious and personalized wealth management solutions to high net worth customers.
BOCHK said that its high-end customer base has been expanding steadily in recent years as the number of customers with a net asset value of over HK$8M grows more than 10% each year.
The new service aims to help these clients maximize their wealth and preserve their legacy, offering asset allocation solutions that include investment, insurance, equities, cross-border wealth management, mortgage, among others.
Through the premium service, BOCHK also aims to assist customers in planning for their children’s finances, offering a variety of legacy planning and protection solutions, including consultation services for wealth inheritance and exclusive life insurance offerings.
Stephen Chan, general manager of Personal Banking and Wealth Management Department of BOCHK, said that wealth management has always been one of the key businesses for BOCHK.
“We see a greater need for professional investment and insurance services as well as financial management analysis among this particular customer group. Their asset allocation mix consists of about 40% investment products, of which the majority are securities and funds,” he said.
The service is compose of an exclusive team of wealth management experts. The cross-border component of the service includes addressing customers’ needs for traveling, property purchase, and investment, including cross-border mortgage consultation services and Greater Bay Area financing solutions.
BOCHK has also shared that it will soon launch RM Chat, a service that enables customers to communicate with BOCHK service team through mobile banking, allowing designated relationship managers to address customers’ transaction requests.
