just now
Saxo Markets is now able to extend its business further in Hong Kong to asset and wealth management
October 25, 2021 - Saxo Capital Markets HK Limited announces that it has obtained Type 4 (Advising on securities) and Type 9 (Asset Management) licenses from The Securities and Futures Commission of Hong Kong (“SFC”). Being granted these two licenses advances the ambitions of Saxo Markets as it can now provide more comprehensive services to help investors fulfil their financial aspirations through its multi-asset trading and investment offerings.
Saxo Markets currently holds SFC Type 1, 2 and 3 licenses, and has been operating in Hong Kong since 2011. Together with Type 4 and 9 licenses, Saxo Markets is now able to extend its business further to asset and wealth management. Leveraging its strong fintech background and deep understanding of the local market, Saxo Markets can provide an alternative to traditional asset management for investors who are looking for a much more personalised option with insightful research at a lower fee threshold.
Head of Wealth Management and Responsible Officer of Saxo Markets, Lester Chan said, “Investors in Hong Kong now are very much digital-savvy. They are looking for an easy-to-use platform that can provide tailor-made solutions based on their financial situations, and can handle their needs through one single account with top-level professional assistance. That’s where Saxo is uniquely positioned. Other than our award-winning platforms for executing the trade efficiently, we also provide insightful research content to help clients make more informed decisions. We launched SaxoInvestor in February this year, with its rich content, SaxoInvestor stands out as the new alternative platform. Now we’re ready to tap into the asset and wealth management area with our new solution coming in the near future to help clients customise their investment portfolio.”
As the commercial owner, Lester oversees all aspects of Saxo Markets’ wealth and asset management strategies and offerings in the Greater China region. Previously, Lester was a portfolio manager and strategist at some of the largest asset managers in the world running global macro and asset allocation strategies. He worked in New York and Beijing before moving back to Hong Kong.
Richard Douglas, Hong Kong CEO, Saxo Markets, said, “Obtaining the licenses is definitely a key milestone for us, as globally, Saxo has ambitions in the wealth and asset management space, so this is very encouraging and putting us on track in Hong Kong to realise these ambitions. The licenses give us greater room to now provide more comprehensive services to clients, whether they want to trade global capital markets or invest into their future. It's especially meaningful for the Hong Kong office, as Hong Kong is a key growth market for Saxo and the gateway connected to Mainland China. We remain humble and continue to strive to become more relevant for more people through our expanded offerings and continued commitment to improving the client experience.”
