[ Citywire Asia ] Family Office Association Hong Kong said it has agreed to join up with the Association of Independent Asset Managers Hong Kong.
The integration will see the formation of a subcommittee called the External Asset Management, and it will be chaired by AIAM HK’s board of director.
This is a strategic step forward for FOAHK, said chairman Chi Man Kwan, who launched the group last November with four other family office executives.
‘Sharing similar passion and vision, we are confident that this will further the synergies within the family office ecosystem,’ in Hong Kong, Kwan said.
FOAHK was launched for the sole purpose to promote Hong Kong’s growing family office sector and cultivate collaboration between industry practitioners.
Its board of directors include Kwan, CEO of Raffles Family Office; Kenneth Ho, founder of Carret Private Capital; Grant Ko, co-founder of Wisdom Asset Management; Harry Pang, founder of Fountainhead Partners; and Jim Kwok, CEO of Topaz Financial Group.
Since its inception ‘FOAHK has received tremendous traction in the community and have built strong rapport with primary stakeholders,’ said Jessica Cutrera, a committee member, as well as the founder partner of The Capital Company.
Hong Kong has so far issued around 1,500 Type Nine licences, that is required for asset management. Some 50 of them belong to multi-family offices.