Hong Kong
PRIVATE bankers in Hong Kong and Singapore had their wings clipped by the pandemic, thwarting their pursuit of millionaires scattered across a region where wealth is growing faster than anywhere else.
For most of the year, relationship managers in two of the world's largest centres for cross-border money management haven't been able to freely travel to China and around South-east Asia to meet new prospects and verify ownership of private yachts, property and more. They've focused instead on a trading boom among existing clients.
But the shrinking pipeline is an increasing worry as Covid-19 flare-ups in the region keep them largely grounded, say executives and relationship managers.
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