Newly appointed CEO Henry Shin strengthens leadership team and expands wealth management offerings tailored to the region's fast-growing mass affluent population
HONG KONG SAR - Media OutReach Newswire - 19 September 2024 - WRISE Prestige, an affiliated company of WRISE Group, today announced its renewed commitment to meeting the evolving needs of the growing mass affluent base through the strengthening of its leadership team in Hong Kong. The company has appointed Henry Shin as WRISE Prestige's new CEO, who will lead the day-to-day operations of this business, while spearheading innovative wealth management products and services tailored to the needs of the mass affluent segment.
The mass affluent market in Asia continues to undergo a transformative shift, driven by the rise of the Asian middle class and significant inter-generational wealth transfers.
China's mass affluent households alone are forecasted to rise to 162 million by 2030, according to Statista.
This region's rising affluence has vastly deepened WRISE's commitment to serving this group by enhancing the leadership team, and providing exclusive opportunities for direct investments, mirroring advantages enjoyed by WRISE Group's existing ultra-high-net-worth clients.
CEO Henry Shin, a wealth management industry veteran who brings over 26 years of experience, will lead the growth of WRISE Prestige. He takes over the CEO responsibilities and day-to-day operations from Jowin Fung, who will now focus on his current role as Vice Chairman. Both will report to Stephen Yan, Chairman, WRISE Prestige.
Together, they will lead a growing team of 180 independent wealth consultants supported by 40 investment and support function colleagues in a new 17,000 sq. ft Hong Kong office, centrally located at Lee Garden for optimal client access.
"Joining WRISE Prestige at this transformative time is truly exciting," said Henry Shin, CEO, WRISE Prestige. "The expanding mass affluent segment presents a tremendous opportunity, and I look forward to leading our growing team in delivering exceptional wealth management solutions tailored to this segment's evolving needs. Our strategic expansion across Asia Pacific also underscores our dedication to providing personalised, high-quality service to our clients."
"Our strategic focus on expanding our team to better serve the growing mass affluent segment is a cornerstone of our broader mission to build a 360 wealth management ecosystem that caters to the diverse financial aspirations of clients at every stage of their wealth journey," said Stephen Yan Chairman of WRISE Prestige. "I am confident of Henry's proven track record to lead WRISE Prestige in meeting the sophisticated needs of a dynamic client base and enabling us to become the leading wealth management partner for the mass affluent segment in the region."
As WRISE Prestige continues to build momentum, clients can expect more innovative offerings, complemented by the WRISE Academy, which is designed to enhance the capabilities of independent wealth consultants and industry partners through comprehensive training programmes. It also aims to educate and guide clients, empowering them to actively participate in their wealth management journey, while gaining valuable insights into actionable wealth management strategies.
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About WRISE Prestige
WRISE Prestige is one of the affiliated companies under WRISE Group and operates three specialised subsidiaries, authorised by the Securities and Futures Commission of Hong Kong and/or the Insurance Authority: WRISE Prestige Securities Limited, WRISE Prestige Asset Management Limited and WRISE Financial Services Limited.Its tailored solutions ensure autonomy, unparalleled price transparency, and exclusive direct investment opportunities, allowing clients to enjoy investment opportunities that are typically only extended to ultra-high-net-worth individuals.
Leveraging its wide network of partners, WRISE Prestige delivers comprehensive wealth management solutions such as family office services, corporate financing, external asset management, multi-asset allocation, alternative fund investment, trust services, global fund setup services, local and overseas property investments, and investment immigration consultations.