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Hong Kong PB and private WM business AUM grew by 25% in 2020: SFC survey

The AUM of Hong Kong’s private banking (PB) and private wealth management (WM) business grew by 25% to HK$11.3 trillion (US$1.5 trillion), highlighting the city’s top position as Asia’s WM hub. A survey published on Thursday by the Hong Kong Securities and Futures Commission (SFC) shows AUM at the city’s asset and WM businesses grew 21% YoY to HK$34.93 trillion…

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