Press Releases


Hong Kong Securities Institute Launches Private Wealth Management Initiatives

The Hong Kong Securities Institute (HKSI) has launched a broad initiative that includes a “Competency Guidelines” programme and certification for market practitioners in order to address the increasing need for professionals in the Private Wealth Management (PWM) industry.

The HKSI recently established an Ad-hoc Committee for the Competency Guidelines for PWM Industry in Hong Kong (ACCGP) that includes senior representatives from almost all the major global, regional, and local PWM firms.

The committee’s main objective is to develop a set of competency guidelines for market practitioners who are engaged in the PWM industry.

The competency guidelines will be based on global best practices and local requirements that are relevant to the Greater China market. The HKSI plans to launch the competency guidelines by the end of this year. A set of competency standards will then be developed to certify PWM professionals.

As part of the PWM initiatives, the HKSI last month signed an agreement with the Swiss-based Association of International Wealth Management (AIWM) that allows the HKSI to offer the Certified International Wealth Manager (CIWM®) Programme. Professionals of PWM and related fields have been enrolling with the CIWM programme in Switzerland and five other European countries, including the United Kingdom.

The HKSI will be the first organisation in Asia to offer the CIWM Final Examination and its preparatory courses for professionals who are working in or are interested in joining the PWM industry.

Professor K C Chan, Secretary for Financial Services and the Treasury, said, “The development of competency guidelines for PWM professionals will help strengthen Hong Kong’s position as a leading international financial centre. We are pleased to see the HKSI pressing ahead with the initiatives to meet market needs.”

Mr Anthony Muh, Chairman of HKSI, explained, “The HKSI is very excited about the PWM initiatives. They are an important part of our strategy to enhance the professionalism of market practitioners in the Greater China region and to maintain Hong Kong’s role as a world class financial hub. We are very confident these initiatives will serve industry professionals well.”

Dr Bill Kwok, Chairman of the ACCGP and a former Chairman of the HKSI, said, “We are very pleased and proud to work with PWM leaders and experts in the development of industry-wide qualifications and competency standards. From this point on, PWM firms can use these quality benchmarks in supporting and meeting the career development needs of their staff. At the same time, individual participants will benefit from getting world-class recognition of their knowledge and experience in this well-regarded profession.”

Mr Chris Meares, CEO of Global Private Banking, HSBC, commented, "HSBC welcomes the Private Wealth Management initiatives undertaken by HKSI to expand the pool of skilled talent in the Greater China Region. We believe these steps are important in the continuing development of the private banking industry but most importantly in the full interests of customers."

Mr Aamir Rahim, CEO, Citi Private Bank, Asia Pacific, said, “Today’s fast-developing PWM market requires trained professionals who, in addition to understanding global financial markets and the latest financial instruments, must understand the importance of clients’ portfolio management process and risk control and how to best serve their clients’ interest given the market volatilities.”  

Mr James Hong, Managing Director, Head of Private Banking, Hong Kong Location, Credit Suisse AG Hong Kong Branch, added, “It is very timely for the HKSI to launch the PWM initiatives in light of the current needs of the industry. We believe that higher quality training provided to staff helps to ensure a better quality of services provided to clients, strengthening the trust and confidence clients place in the institution.”

Members of the ACCGP (in alphabetical order by last name) include:
Monique Chan, Grace Chow, Alex Fung, James Hong, Yvonne Hsin, Serge Janowski, Bill Kwok (Chairman), Edwin Lim, Allen Lo, Alan Luk, Rajesh Malkani, Anthony Muh, Andrew Sum, Kenneth Toong, Sam Tse, Anna Wong, S.F. Wong, Jimmy Woo, Jason Yeung, and Lok Yim.

For media enquiries, please contact the HKSI:
Mr S F Wong, Chief Executive on 3120 6288
Mr Se Fong Kao, Manager – Corporate Communications, on 3120 6159

About the HKSI

The HKSI is a professional membership organisation established in 1997 for the securities and investment industry in the region.

Our vision is ‘To be the leading organisation in Greater China in promoting the standard of financial services by offering the highest quality professional examinations and training, and most valued and respected membership in the securities and investment industry.’

Our mission is to:
- set standards of professional excellence and integrity for members and market participants, and to provide
the means of attaining them;
- contribute to Hong Kong's role as a leading international finance centre; and
- broaden the membership of professionals and enhance the capabilities and reputation of members.

About the Association of International Wealth Management

The Association of International Wealth Management (AIWM) is the international professional organisation for wealth managers, portfolio managers, investment advisors, asset managers and trust and estate practitioners worldwide.

The Association’s main role is to award the Certified International Wealth Manager Diploma (CIWM®), the integrated education qualification which is delivered internationally in partnership with approved training providers.

The Association was founded in 2007 by AZEK, the training centre of the Swiss Financial Analysts Association, LawInContext, the online interactive legal information and training service created by the global law firm Baker & McKenzie and Central Law Training (CLT), the UK’s leading provider of postgraduate legal training and exclusive course provider of the renowned STEP Diploma in International Trust Management.