Angel Chia, who has spent two decades in stockbroking and working with family offices, has been appointed as the executive director of the Hong Kong Academy for Wealth Legacy (HKAWL) to spearhead the city’s bid to be the regional hub for multigenerational fortunes.
Chia, the former chief executive of EAM SingAlliance (Hong Kong), has spent more than 20 years in the financial industry, from securities dealing to asset management in Hong Kong, Singapore, Taipei and New York. Less than a year ago, she started NexGenerator, a family office accelerator that educates family offices’ next-generation in private wealth management.
The academy is aimed at nurturing financial talent and augmenting the city’s claim as Asia’s hub for wealthy family offices. It will foster collaborations through networking, knowledge sharing and talent development via workshops, conferences and networking events.
The Undersecretary for Financial Services and the Treasury Joseph Chan Ho-lim, the FSDC’s executive director Au King-lun and Charles Ng Siong-kwong from the office of the Financial Secretary will represent the city.
Family offices are growing quickly across Asia-Pacific, and the Hong Kong government has been racing to bolster the city’s appeal as an investment hub for the ultra rich.
Hong Kong’s position as a “superconnector” both into and out of mainland China has made it a comparatively favourable location.
The Asia-Pacific region is expected to experience the biggest growth in wealth among ultra-high-net-worth (UHNW) individuals by 2026, according to Knight Frank’s Wealth Report 2022.