Hong Kong wealth managers use AI to serve clients, but hiring remains slower
According to SCMP Business, Hong Kong wealth managers are using AI to serve clients as private banks and wealth management firms adopt technology, while hiring remains slower despite strong growth in private wealth assets. Capco notes that assets under management are growing rapidly, but relationship managers are not increasing at the same rate as technology and AI enhance productivity.
Key facts
- 01Capco is cited as the consulting firm observing AI adoption in Hong Kong wealth management.
- 02The article notes that hiring of relationship managers is not keeping pace with growth in assets under management.
- 03Private banks and wealth management companies are using technology, including AI, to serve clients.
- 04Simon Smallcombe of Capco is referenced in relation to the productivity impact of AI on wealth management teams.
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