The Canadian firm's asset management business has created an office in Hong Kong to serve mainland and Hong Kong HNW individuals arranging a move to Canada.

Manulife Private Wealth, part of Canada-headquartered financial services group Manulife, has opened a Hong Kong office to serve high net worth customers, especially those from Hong Kong and mainland China who are arranging to immigrate to Canada. 

As part of the offering in Hong Kong, a representative office of Manulife Bank of Canada is being launched at the same time, Manulife said yesterday. 

“Canada is a popular country for Asians to migrate to. We believe in helping our customers with their biggest financial decisions, and as their financial partner, it’s important we make it as easy as possible for those immigrating to Canada to continue receiving financial planning services from a trusted partner,” Michael Huddart, general manager, Greater China, for Manulife.

The new Hong Kong office will provide a “seamless service” for Manulife clients who wish to use the Manulife Private Wealth team when they move to Canada, said Jennifer Chua, who is head of Manulife Private Wealth, Asia, and chief representative, Manulife Bank of Canada Hong Kong representative office. 

The movement of affluent mainland Chinese and Hong Kong residents to Canada - and other parts of the West - has been a recent trend. In the UK, for example, such persons have been among the most eager seekers of investment visas, one of a number of such "golden visa" programmes aimed at HNW investors. 

Manulife Private Wealth was launched in Canada in 2012.

In October, Manulife Asset Management created the new roles of chief marketing officer for wealth and asset management for Asia and chief financial officer for the same business segment. For more on those appointments, see here.