The wealth management house is working with Hong Kong University of Science and Technology. Hywin has recently also partnered with IBM to revolutionise how clients interact with the wider world. This news service gets the inside track from Hywin's CEO.
Madame Wang Dian, CEO of Hywin Wealth, has exclusively told WealthBriefingAsia about the firm’s latest tech initiative, this time being held in partnership with a major Hong Kong university.
WealthBriefingAsia: Madame Wang, please do tell us about the upcoming event at Hong Kong University of Science and Technology.
Madame Wang: Hong Kong has been going through a challenging period. But the resilient Greater China markets and the embrace of technology during COVID-19 have ensured the stridency of financial services in the city.
Against this backdrop, HKUST, a jewel in the crown of Asian academia, has invited Hywin Wealth to host a “Wealth + Tech” seminar on 4 November, to share with HKUST graduate students and alumni how Hywin sees and seizes a digital future. This seminar on 4 November is part of a week-long programme hosted by InvestHK on HKUST campus. The sponsors of the other seminars are Lufax (on 5 November) and Futu (on 6 November).
WBA: Lufax is of course the Chinese online wealth manager backed by Ping An and Futu is a leading online broker backed by Tencent. Lufax, Futu, and Hywin definitely form a very interesting trio.
Madame Wang: Indeed. These three firms, all rooted in China and sharing the same aspiration for global growth, represent creative disruption in their respective domains.
Hywin Wealth was already a pioneer in deploying digital innovations for client interfaces and internal KYC/investing/execution processes in the early 2010s. Today, Hywin’s 110,000 clients and 1,700 relationship managers are all operating on a paperless basis, which is protected by security safeguards, supported by AI, and perfected by continuous, imperceptible innovations.
WBA: what’s the next big thing in your tech journey?
Madame Wang: Recently Hywin and IBM established a partnership to deliver a multiple-year programme which will fundamentally review, redesign, and revolutionise the way clients’ wealth interacts with the world.
Separately, we are preparing to establish a presence in the passive investment universe, using careful, cost-effective participation in high conviction trends to complement our active management business (from in-house funds to high-touch EAM platform).
WBA: So you think tech has a role to play in the passive investment space?
Madame Wang: Certainly. Passive is not merely about costs and tracking errors. Tech and data can help us choose, design and “smart up” a beta strategy. And to pre-determine the probable take-up rate among our 110,000 clients of a passive strategy also requires intelligently constructed foresight.
By the way, the tech industry per se is a rich source of alpha but the business model fluidity and non-linear corporate trajectories make “portfolio participation” probably a good way to play the tech game, especially for sub-sectors that are remote, technically or geographically, from the clients’ home turf.
WBA: HKUST is a famous university ranked 27th in QS World University Ranking. Will you consider hiring young talent from HKUST?
Madame Wang: That’s part of our goal for this seminar. HKUST has a terrific MBA programme and an EMBA ranked as 2nd globally. Hywin Wealth looks for people with passion for finance, curiosity for the future, and an artisanal pursuit of what one believes in.
About Hywin Wealth:
Hywin Wealth is a major independent wealth manager from China, with more than 2,500 staff serving 110,000 high net worth clients from 170 business locations in Mainland China, Hong Kong SAR, the UK, and the US.
Hywin Wealth was voted “Best Wealth Manager of Greater China families” and Madame Wang Dian “Woman of the Year in Greater China Wealth Management” by WealthBriefingAsia in 2020.