HONG KONG, May 28, 2023 /PRNewswire/ -- In recent years, with rapid growth of the global wealthy population and demand for wealth management, family office business, as an important field to promote rapid growth of the asset and wealth management industry, is a significant direction which the HKSAR government has fully promoted. Several favourable policies have recently been announced to attract more family offices to settle in Hong Kong, fully reflecting the determination of Hong Kong to enhance its competitiveness as a global wealth management center and develop the city as a family office hub.
Soochow Securities (Hong Kong) Financial Holdings Limited, a wholly owned subsidiary of Soochow Securities Co., Ltd. has entered into the duly strategic cooperation agreement with DL Holdings in Hong Kong. Both parties will launch all-round cooperation in the aspects of family office, wealth management, joint operation and equity, including docking domestic and overseas client resources, providing asset allocation strategies and investment products, and selling various financial products on behalf of each other, to jointly promote cross-border investment and wealth management between mainland China and Hong Kong, the Greater Bay Area, and even the Asia-Pacific region, thereby empowering each other for win-win cooperation.
Mr. Zhen Xue, President of Soochow Securities, said, " Soochow Securities (Hong Kong) and DL Holdings have signed a strategic cooperation agreement, taking advantage of the 'favorable timing, geographical and human conditions.' The 'favorable timing' refers to the global economy gradually recovering from the COVID-19, with China's economy rebounding strongly after reopening. The favorable geographical' signifies that both Soochow Securities (Hong Kong) and DL Holdings are based on the shores of Victoria Harbor, adhering to the principles of 'one country' while utilizing the advantages of 'two systems,' constantly creating new value for clients in this unique geographical position. The ' favorable human conditions' aspect involves DL Holdings possessing a comprehensive talent system and reserves, with the core management team having an average of over twenty years of industry experience. Soochow Securities (Hong Kong) also continues to improve its personnel allocation, fostering a highly efficient and stable team of professionals. Against this backdrop, through complementing and promoting each other, the collaboration between the two parties will undoubtedly generate a synergistic effect where '1+1>2,' bringing about a win-win situation to enhance the core competitiveness of both companies."
Mr. Andy Chen, Chairman of the Board and Executive Director of DL Holdings, stated, "DL will fully leverage its own strengths, particularly focusing on the unique advantages of serving family office clients, corporate clients, and global asset allocation. We will fully connect with Soochow extensive domestic and international client resources, deeply explore the wealth management needs of existing clients, jointly expand the service scope for clients in new areas, and achieve alignment in principles, complementing each other's businesses, and promoting mutual assistance, all with the goal of swiftly seizing the cross-border asset management market in Hong Kong and the Greater Bay Area in this new era. Simultaneously, we will leverage Soochow's strong research capabilities and resource network to provide DL's clients with more comprehensive and in-depth investment banking services and domestic capital support, positioning ourselves as the frontrunners in the industry."
The cooperation between Soochow Securities and the Group will not only enable both parties to fully utilise and expand their business and service characteristics, but also facilitate the construction of wealth ecosystem in the Greater Bay Area and promote the construction of Hong Kong as an international wealth management cluster demonstration area. Both parties indicated that they would grasp the opportunities of wealth management policies and keep abreast of the changing trend of the needs of wealthy customers, so as to genuinely establish a diversified, professional and integrated service system focusing on customers, and realise the synergy development of cross-border wealth management business.
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About Soochow Securities (Hong Kong) Financial Holdings Limited
Soochow Securities (Hong Kong) is a wholly owned subsidiary of Soochow Securities Co., Ltd. (601555.SH). As the platform of internationalization strategy, Soochow Securities (HK) acts as an overseas window for Soochow Securities. Soochow Securities (HK) now holds licenses issued by the Securities and Futures Commission (SFC) of Hong Kong, for Type 1, Type 2, Type 4, Type 5, Type 6, and Type 9 regulated activities, which aims to provide comprehensive and high-quality corporate finance, asset management and brokerage services for global and Hong Kong clients. Leveraging cross-border collaborations through Soochow Securities' the geographical advantages and rich client resources, Soochow Securities (HK) focuses on securities and futures brokerage, institutional sales and research, corporate finance, fixed income, and asset management, committed to becoming an investment and finance platform with leading characteristics.
About DL Holdings Group Limited
DL Holdings Group (1709.HK) is a Hong Kong-listed asset management and financial services platform with a core focus on family office operations. With 13 Years of Establishment, DL dedicated to Serving Ultra-High Net Worth and High Net Worth Individuals and Enterprises in the Asia-Pacific Region, Holding SFC Licenses 1, 4, 6, and 9, with Total Assets Under Management Exceeding $3 Billion. DL has offices in Hong Kong, Shanghai, Singapore, and San Francisco. It is currently the first and only publicly listed group in Hong Kong that combines family office operations. Its business covers a wide range of services including full-cycle family office services, investment banking services, asset management, global real estate investments, alternative investments, insurance services, as well as family governance and planning.
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SOURCE DL HOLDINGS GROUP LIMITED