Banker inquiries about leaving Hong Kong are rapidly climbing at relocation agencies and search firms following the enactment of the national security law, Richard Otsuki, finews.asia chief editor, said in an interview with Money FM 89.3.
The new legislation – aimed at acts of subversion, secession, terrorism, and collusion with foreign forces – is frequently perceived as a sweeping measure to stifle any acts deemed threatening to the state. It is sparking a scramble by Hong Kong's bankers, already hardened by ongoing unrest in the city.
«We're hearing a lot of inquiries,» said Richard Otsuki, finews.asia chief editor, in an interview Singapore-based Money FM 89.3’s Rachel Kelly during its «Prime Time» segment. «At the senior level, we are talking about handfuls per week versus virtually none before.»
Wooed by Foreigners
Otsuki referenced a previous finews.asia report about strong interest in Singapore as a relocation target, citing potential roles at Greater China desks within private banks or at asset managers covering Chinese family offices and external asset managers.
«Obviously, my view is only a small snippet of the broader reality,» Otsuki said, spotlighting other markets that have also seen interest.
Listen to the full interview on Money FM 89.3:
