KGI Financial Holding has launched its first overseas banking branch in Hong Kong, deepening its push into cross-border finance and positioning itself to serve Asia’s growing family office and high-net-worth client base.
The Taipei-based firm opened the new KGI Bank branch at Three Pacific Place in Admiralty, marking a milestone in its strategy to become a pan-Asian financial services provider.
The bank aims to tap into the city’s momentum as a wealth management and family office hub, according to a report by the South China Morning Post.
“With a strong foundation among corporate clients, the branch will further enhance our capabilities in cross-border capital management and financing services,” said Kate Lin, president of KGI Bank.
The bank also plans to introduce family office services tailored for corporate clients, she added.
The expansion comes as Hong Kong steps up efforts to attract global wealth, particularly from mainland China and Southeast Asia.
Assets under management in the city rose 13 percent in 2023 to HK$35.14 trillion (US$4.5 trillion), just below the 2021 record of HK$35.55 trillion, according to data from the Securities and Futures Commission.
Private wealth management assets alone jumped 15 percent to HK\$10.4 trillion, underscoring renewed investor interest.
Strategic Entry Amid Growing Family Office Demand
KGI’s entry into Hong Kong aligns with broader regional trends, as financial institutions across Asia position themselves to serve a rising number of ultra-high-net-worth individuals.
The Hong Kong government has rolled out a number of incentives to attract single- and multi-family offices, including tax exemptions and residency benefits.
KGI Bank offers wealth management, private banking, and family office services, with a platform built around three business pillars: corporate banking, retail banking, and financial markets.
It plans to use its Hong Kong presence to strengthen ties with other arms of the group, including KGI Securities and CDIB Capital, which are already active in the market.
The group’s integrated structure will allow it to offer cross-border financial solutions tailored to clients seeking access to both Greater China and Southeast Asia, areas where KGI already maintains a presence through operations in mainland China and Singapore.
KGI Bank reported net profit of NT$624 million (US$21.2 million) in June, bringing its first-half earnings to NT$3.4 billion, the group said earlier this month.
KGI Financial Holding is publicly listed on the Taipei Exchange.
The bank’s move into Hong Kong follows a broader wave of Taiwanese financial institutions looking to expand their offshore business, particularly in cities that serve as gateways to global capital flows.
Family Office News Asia