Mason plans acquisitions for wealth unit

Hong Kong

MASON Group Holdings, a Hong Kong financial firm backed by Chinese property tycoon Hui Wing Mau, is poised for an acquisition spree as it seeks to build an offshore wealth management business of at least US$3 billion in assets from scratch.

The company, which operates a brokerage and a healthcare business, is in talks with multiple firms to either acquire or form partnerships, with an aim to announce deals by the end of this year, chief executive officer Alex Ko and chief operating officer Joel Chang said in Hong Kong last week. Mr Chang cited Fosun International Ltd's purchase of a German private bank last year as an example of a deal that Mason might do.