Singapore-based digital wealth platform Endowus appoints a head of Hong Kong to prepare for a launch in the city.
Steffanie Yuen joins Endowus as its head of Hong Kong, according to a statement, to lead the firm’s plans to launch wealth management and advisory services in the city by the fourth quarter of 2022.
Yuen was most recently working at Hong Kong-based asset manager Value Partners, leading the group’s direct distribution, marketing, communications and investor relations functions. She has over 12 years of experience and previously also worked at Ant Group, Deutsche Bank and Barclays.
Hong Kong Plans
Earlier this year, Endowus obtained approval for licenses from the Securities and Futures Commission (SFC) to offer its wealth management and advisory services in Hong Kong. According to the firm, its offering will include «the provision of 100 percent cashback on trailer fees» – in line with its business model in Singapore and the first in the Hong Kong market.
«We hope that this unique model that Endowus has pioneered in Singapore will be impactful in helping clients in Hong Kong to manage both their private savings and public pension monies on our digital platform. Over time, we hope to be considered by clients in Hong Kong as an essential partner for wealth planning and to boost retirement adequacy,» Yuen said in the statement.
«The shifts toward transparency in financial services and digitization of wealth have unstoppable momentum,» added Endowus CEO Gregory Van.
