Singapore-headquartered Endowus is planning to launch its wealth management and advisory service in Hong Kong by Q4 2022.
The digital wealth platform has received approval from the Securities and Futures Commission (SFC) of Hong Kong to offer wealth management and advisory services in the territory.
This includes approval for licences under Types 1, 4 and 9, for dealing and advising in securities, and asset management.
As part of the expansion, Endowus has appointed Steffanie Yuen as its head of Hong Kong, responsible for establishing and leading Endowus’ presence in the Special Administrative Region.
Yuen joins Endowus from Value Partners, where she was a managing director responsible for leading the group’s direct distribution, marketing, communications and investor relations functions and other strategic growth initiatives
Gregory Van, chief executive of Endowus, said: “We are thrilled to achieve another key milestone in the growth of Endowus by bringing the first-ever ‘trailer fee-free’ digital wealth platform to Hong Kong, while also marking its expansion into its first overseas market.
“The shifts toward transparency in financial services and digitisation of wealth have generated opportunities for unstoppable momentum.
“Endowus is delighted to welcome Steffanie to the leadership team. Steffanie has built up invaluable fintech and institutional finance experience over the last decade.
“Under her stewardship, I believe that Endowus will be able to provide a better wealth experience for clients in Hong Kong, as we have done in Singapore.”