AI uptake sees wealth management headcounts in Hong Kong trail growth in assets

Hong Kong has seen strong growth in private wealth assets, but the industry has not yet seen the same scale of hiring, as private banks and wealth management companies have adopted technology including AI to serve customers, according to consulting firm Capco. “When assets under management by private banks are growing rapidly, the relationship managers are not increasing at the same rate as the use of technology and AI are enhancing the productivity of the team,” Simon Smallcombe, Capco’s...