Best for HNW in Hong Kong 2023
The Bank of East Asia
Bank of East Asia has deep roots in Hong Kong, having operated in the city since 1918. Its private banking franchise, which was set up in 2005, has an equally strong position among Hong Kong’s wealthy clients.
This year, BEA wins Asiamoney’s award for best for high net-worth for being proactive during especially tough times and for helping clients to successfully navigate difficult market conditions, all while offering diversification and tailor-made solutions to remain their private banking partner of choice.
Fritz Chan is BEA’s head of private banking, running a skilled team in a bank with a considerable legacy. The broader financial services group has consolidated assets of over HK$900 billion ($117.4 billion) and is well capitalized with a high core equity tier one ratio of 15.7%. It boasts extensive regional and global know-how: in Hong Kong, it operates one of the largest physical networks of branches.
Over the years, BEA developed a reputation as a pioneer of innovative, value-added banking services to customers in Greater China. In 2007, it was one of the first foreign banks to receive approval to establish a locally incorporated bank in mainland China.