‘The race is on’: Swiss bankers nod to Hong Kong’s prowess as wealth hub

Swiss private banking executives have acknowledged Hong Kong’s growing prominence as a global cross-border wealth-management hub, as geopolitical tensions prompt wealthy clients to diversify not only their investments but also where their assets are held. “The race is on,” said Giorgio Pradelli, CEO of Swiss private bank EFG International, during a panel discussion on Wednesday at the Global Financial Leaders’ Investment Summit hosted by the Hong Kong Monetary Authority (HKMA). He was referring...