Family Office (FO) stands at the pinnacle of family and private wealth management businesses and is acclaimed as "the jewel in the crown". FO is becoming increasingly important to the entire financial services industry. Its rising prominence does not only due to the commercial potential of the vast assets under management, but also the fact that allowing financial centres to flex their wealth management muscles.

According to McKinsey's latest forecasts on “The Success of the World's Leading Family Offices", Mainland China's family offices are facing a historic opportunity for growth. Mainland China's ultrahigh net worth (UHNW) population will grow at a rapid rate of 13% over the next five years, with the number of UHNW families reaching 60,000. Mainland China has a huge potential for FO development, with the second largest billionaire group in the world, second only to the USA. Compared with mature markets around the world, there are significant differences on the needs of FO business from Mainland China's UHNW families.  As such, tailored-made products are required to meet their needs.

The HKU ICB Family Office Centre is committed to forging close partnerships with family offices, providing talent training for wealth successors and industry practitioners, and expanding the talent pool for the family office industry. We hope to step up efforts to drive continuous development in financial and professional services, innovation and technology, green industries, arts and culture, and philanthropy in Hong Kong and Mainland China.