Cambridge Associates, wealth manager for the Rothschild family, applies to open Hong Kong office

Name: SCMP
Telephone: +852-2680-8888

Expansion of Cambridge Associates in Hong Kong, its fourth office in Asia-Pacific after Singapore and Beijing, will allow it to capture opportunities in Greater Bay Area, executive says

InvestHK has formed a family office team to attract companies to set up in Hong Kong to help manage the fortunes of wealthy families

Reading Time:2 minutes

Why you can trust SCMP

A slew of wealth management companies and family office operators have set up in Hong Kong after the government launched a marketing offensive to promote the city as a family-office hub. Photo: Reuters

Enoch Yiu

Published: 12:07pm, 29 Aug 2021Updated: 7:50pm, 29 Aug 2021

Cambridge Associates, a US investment firm with more than US$38 billion of assets under management, has applied for multiple licences to conduct business in Hong Kong with an eye on wealthy clients in the Greater Bay Area, according to a senior executive.

The firm is seeking to add the financial hub to its offices in the region in Beijing, Singapore and Sydney to better serve its clients, joining top-tier lenders in the city in the push into the wealth management industry as China minted new billionaires faster than anywhere else on Earth.

“The expansion of our footprint to Hong Kong will allow us to capture the growing opportunities in the development of the Greater Bay Area,” Mary Pang, head of global private client practice at Cambridge, said in a phone interview with the Post.

“While travel restrictions remain in Hong Kong, it does not affect our expansion plan in the city, as we are taking a very long-term view to develop in the city,” said Pang, who relocated to Singapore from San Francisco earlier this year.

Mary Pang, head of global private client practice at Cambridge Associates. Photo: Handout

The timing of the office opening has not been fixed as Cambridge is awaiting approval from the regulator, the Securities and Futures Commission, Pang said. The firm announced in March the hiring of Edwina Ho as senior director of business development for Asia, based in Hong Kong.

Cambridge Associates, which is based in Boston, Massachusetts and counts the Rothschild family among its clients, is the latest in a slew of wealth management companies and family offices setting up in Hong Kong after the government launched a marketing offensive.