Deutsche Bank’s Hong Kong wealth boom driven by Chinese flows
This highlights the city’s rising significance as an offshore hub for fund flows from the mainland
Deutsche Bank's Hong Kong wealth division is growing rapidly due to substantial Chinese inflows, propelling the city to become the world's largest offshore wealth hub in 2026. Marco Pagliara, head of emerging markets at the private bank, emphasized that Hong Kong's private bank has seen impressive growth, particularly in trophy real estate investments, which often have a Chinese influence.
Despite concerns about China's stricter tax policies on fund outflows, Hong Kong is actively courting asset managers by proposing a tax regime change that would exempt private equity and hedge fund managers from performance fees and carried interest taxes. The bank has increased its private banker workforce in emerging markets, adding more than 30 new hires in 2026, and aims to boost its total assets under management (AUM) to over 1 trillion euros by 2028.
While the bank is optimistic about its prospects in Southeast Asia, particularly in Singapore and Indonesia, it remains cautious about the volatile situation in the Middle East, where it maintains a presence in Dubai and Saudi Arabia. Deutsche Bank is also harnessing artificial intelligence to streamline client onboarding processes and enhance client engagement.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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