Hong Kong banks adapt as affluent portfolios go global

Adviser capacity and cross-border compliance are becoming key operating priorities.

Hong Kong banks are reshaping wealth operations as affluent clients diversify across markets and require more complex portfolio, regulatory, and advisory support.

Around 72% of affluent investors now invest overseas. Ajay Mathur, Head of Consumer Banking Group and Wealth Management at DBS Hong Kong, said clients are moving from local transactional strategies toward multi-asset global portfolios.

That shift increases the operational burden on banks, which need advisers who can handle more complex portfolio construction, succession planning, and risk management across markets.

Mathur said artificial intelligence can support this model by processing large datasets and identifying market trends, but it cannot replace human judgment in decisions shaped by family dynamics, legacy planning, and personal values.

“AI serves as an exceptional co-pilot to empower our advisors, but human partnership remains indispensable,” he said.

The bigger constraint is talent. Mathur said Hong Kong’s wealth sector faces an adviser gap as banks compete for professionals who combine investment expertise with familiarity with modern AI tools.

Cross-border regulation adds another layer of complexity. Banks need to manage shifting capital flows and different regulatory requirements whilst maintaining security and trust. That is pushing institutions to invest in digital infrastructure and workforce capability at the same time.

For bank executives, the issue is less about adding more technology and more about building an operating model that can support global portfolios efficiently and compliantly. Mathur said institutions that can combine digital tools with experienced advisers will be better placed to handle increasingly international client needs.

Mathur will also speak at the Asian Banking & Finance and Insurance Asia Summit in Hong Kong on November 5.