Family office advisers see rising interest from clients wanting to move assets from HK

Sham Shui Po District, Hong Kong. Photo by Joseph Chan on Unsplash

Service providers to some of Asia’s wealthiest families say they are fielding a rising number of calls about shifting away from Hong Kong, with some already moving money to Singapore-based banks.

“Projects that were going into Hong Kong, people are now holding back,” said Shanker Iyer, Asia executive chairman at IQ-EQ, which says it has about $450 billion of assets under administration for family offices and other investors.

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