China Wealth Manager Hywin Plans Foray Into Singapore
- Targets $500 million of assets in city-state in first year
- Wealth manager has 100,000 high-net-worth clients globally
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Hywin Wealth Management Co. is weighing an expansion into Singapore to follow its Chinese clients and tap the surge of wealthy individuals in Southeast Asia.
The Shanghai-based company is seeking licenses to provide wealth management, asset management, succession advisory, insurance and brokerage services in the city-state, Wang Dian, chief executive of Hywin Wealth, said in an interview. The firm hopes to attract $500 million of assets in Singapore within the first year after hiring a team of about 10 to 15 people.