On 31 August 2021, the event "Family Office Solutions Showcase (FOSS) Outreach Summits - Greater Bay Area" was organised by Association of Family Offices in Asia (AFO) and Association of Private Bankers in Greater China Region (APO) in Hong Kong, and live broadcasted online to a wide audience of over 2000 people internationally.
Mr. Carson Wen, the Founder and Chairman of Bank of Asia (BVI) joined the opening panel session on the topic of "Building Asia Family Offices Ecosystem - Perception from SFOs and its relations network" with other expert panelists from Hong Kong and China. During the discussion, he agreed that the needs of setting up family offices and trusts had been growing steadily in Asian market, especially in Greater China, which generated great potentials for the industry. He also shared his perspectives on the key factors that would impact on the development of family offices industry, such as KYC and compliance requirements.
Under Secretary for Financial Services and the Treasury of HKSAR Government Mr. Joseph Chan delivered the keynote speech afterwards, pointing out the strategic advantages of Hong Kong as an international financial centre and the opportunities in the Greater Bay Area as the most prosperous market. Hong Kong Government has made endeavours to provide a sound environment for family offices and private banking business to grow, in order to address the needs of high-net-worth individuals.
FOSS is part of AFO's Asia Futurist Leadership Summit since 2012, engaging family offices, leaders in enterprises and industry practitioners for exploring business and action plans that contribute to better future.