The Private Wealth Management Association has named its Executive Committee leadership for a new two-year term, keeping UBS senior executive Amy Lo as chairman and appointing Edmund Kam of Bank of China (Hong Kong) as vice chairman, in a move that preserves senior industry continuity at one of Hong Kong’s central private-banking trade bodies.

The appointments, announced by PWMA and reported by Hubbis on May 19, follow the association’s twelfth Annual General Meeting and are effective from May 15, 2026. The 12-member Executive Committee brings together executives from major global and regional private wealth institutions operating in Hong Kong, including UBS, Bank of China (Hong Kong), Julius Baer, BNP Paribas, Bank of Singapore, Citi Private Bank, DBS, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan and Standard Chartered.

The leadership announcement is not a bank-level transaction or a personnel move at a single wealth manager. Its significance lies in the role PWMA plays as an industry platform in a market where private banks are navigating rising client complexity, intensified talent competition, expanding family-office demand, digital-asset policy development and Hong Kong’s effort to reinforce its standing as a global wealth hub. The association’s Executive Committee is the governing body of PWMA and serves as a key channel between member institutions and the wider public-sector and regulatory architecture around the industry.

Lo, who is listed by PWMA as chairman of its Executive Committee and is also a senior UBS wealth management executive in Hong Kong and Asia, will continue to lead the body during the new term. Kam, general manager and head of private banking at Bank of China (Hong Kong), will serve as vice chairman. Their reappointment and appointment, respectively, indicate that PWMA is emphasizing continuity across global, mainland Chinese and Hong Kong banking representation at a time when cross-border private wealth flows remain strategically important to the city’s financial-services agenda.

The new Executive Committee members are David Shick of Bank Julius Baer & Co. AG; Lemuel Lee of BNP Paribas, Hong Kong Branch; Rickie Chan of Bank of Singapore, Hong Kong Branch; Horace Yip of Citi Private Bank; Carol Wu of DBS Bank (Hong Kong) Limited; Frederick Fong of Deutsche Bank AG, Hong Kong Branch; Ling Pong of Goldman Sachs (Asia) L.L.C.; Kanas Chan of The Hongkong and Shanghai Banking Corporation Limited; Florence Kui of J.P. Morgan Chase Bank, National Association; and Peter Tung of Standard Chartered Bank (Hong Kong) Limited.

The composition gives the committee representation across Swiss private banking, U.S. banking groups, European universal banks, Singaporean and regional Asian institutions, mainland-linked banking and Hong Kong’s largest banking franchises. For private wealth clients and advisers, the leadership mix matters because the committee’s work is likely to influence how the industry coordinates on standards, talent pipelines, professional education, technology adoption and engagement with policymakers.

PWMA said the Executive Committee will support the growth and development of Hong Kong’s private wealth management industry and its surrounding ecosystem. It also said the committee will serve as a conduit between the industry and government, regulators, trade bodies and non-governmental organizations, facilitating dialogue on issues that affect the operation and competitiveness of private wealth firms.

That conduit role has become more important as private wealth management becomes more intertwined with public policy. Hong Kong has been seeking to deepen its wealth-management franchise through family-office initiatives, tax and market-access measures, offshore renminbi activity, sustainable finance, digital assets and closer links with mainland China and the Greater Bay Area. Private banks, meanwhile, are balancing growth ambitions with compliance, suitability, product governance and risk-management expectations.

PWMA’s own institutional role extends beyond advocacy. The association says it works through groups covering regulatory, fintech, China and Enhanced Competency Framework matters, and it promotes professional development through the Certified Private Wealth Professional framework. It also supports talent development through apprenticeship and next-generation programs, areas that are directly relevant to wealth managers facing a shortage of senior relationship managers and rising expectations for specialist advice.

Membership growth was a central theme in PWMA’s announcement. Lo said the association had grown substantially over the past year to 64 members as of Dec. 31, 2025, and that associate members, which support the broader private wealth ecosystem, grew by 54% during 2025. That expansion points to a broader definition of the wealth management market, with asset managers, technology providers, exchanges, legal advisers, tax specialists, trustees, insurance firms and digital-asset participants increasingly connected to private-banking client needs.

For banks, the rise of ecosystem members reflects a structural shift in how high-net-worth and ultra-high-net-worth clients are served. Traditional private banking remains centered on relationship management, discretionary and advisory portfolios, credit, investment products and family balance-sheet planning. But large clients increasingly expect integrated advice covering operating businesses, succession, philanthropy, private markets, digital assets, cross-border structuring, insurance, liquidity management and family governance. Industry associations such as PWMA can influence how those services are professionalized and coordinated.

The timing of the leadership announcement also follows a period of renewed attention on Hong Kong’s wealth industry. In the 2025 Hong Kong Private Wealth Management Report, jointly authored by PWMA and KPMG China, the authors described the report as an assessment of the industry landscape, challenges, growth opportunities and a view toward 2030. The report was based on a survey of PWMA member institutions and interviews with senior industry executives, underscoring the association’s role as a data-gathering and agenda-setting platform for the sector.

Hong Kong officials have also continued to frame private wealth as part of the city’s broader financial-services strategy. At the PWMA Wealth Management Summit in November 2025, Hong Kong Financial Secretary Paul Chan described Hong Kong as a venue for preserving and growing wealth in a more complex global environment, pointing to the industry’s role in cross-border capital activity and long-term wealth planning. The new PWMA committee will operate against that policy backdrop.

The leadership structure may also help shape the industry’s response to client behavior. Affluent and ultra-affluent families in Asia have been reallocating capital across public markets, private markets, cash, structured products, alternatives and insurance-linked solutions while also reassessing geopolitical risk, tax residency and succession planning. Private banks in Hong Kong have had to respond with more specialized advisory teams, more rigorous risk discussions and greater investment in digital and product platforms.

At the same time, Hong Kong faces regional competition. Singapore has expanded rapidly as a private wealth booking and family-office center, while Swiss, U.S., Middle Eastern and mainland Chinese hubs remain important to globally mobile families. Hong Kong’s competitive case rests on its capital-markets depth, China connectivity, common-law system, international banking concentration, offshore renminbi infrastructure and expanding family-office policies. PWMA’s committee leadership is therefore likely to focus not only on internal industry matters but also on how the market is positioned internationally.

Talent development is likely to remain a core issue for the association. The private wealth industry depends heavily on experienced relationship managers, investment counsellors, product specialists, compliance staff and operational teams who understand both client objectives and regulatory obligations. Hiring competition in Hong Kong has remained intense, particularly for bankers serving Greater China entrepreneurs, family offices and globally mobile clients. Professional accreditation and apprenticeship programs are one way the industry can broaden its talent pipeline and reduce dependence on lateral hiring alone.

Innovation will be another priority area. Wealth managers are under pressure to improve client reporting, portfolio analytics, onboarding, risk profiling and digital engagement while preserving the high-touch advisory model expected by private-banking clients. Artificial intelligence, digital assets, tokenized funds and automated compliance tools are changing operational and advisory workflows, but adoption in private banking remains constrained by confidentiality, suitability, cybersecurity and governance requirements. PWMA’s fintech-related work gives member firms a forum to discuss these changes without reducing them to vendor-level product launches.

The committee’s institutional breadth could help the industry develop common positions on emerging standards. Global banks and regional banks often face different booking models, capital frameworks, technology stacks and client segments, but many of their challenges overlap: cross-border onboarding, product approval, client risk classification, sanctions screening, investment disclosure, cybersecurity and the supervision of relationship managers. A committee that includes major competitors can still serve a market-wide function when issues affect the operating environment for all firms.

Kam’s vice-chairmanship is also notable because Bank of China (Hong Kong) is deeply embedded in Hong Kong’s mainland connectivity and local banking system. His role alongside Lo’s UBS leadership gives the committee a balance between global private-banking experience and local-to-mainland institutional reach. That balance is likely to be relevant as Hong Kong continues to position itself as a bridge for mainland Chinese wealth, international capital and offshore financial services.

The new leadership term runs through a period when wealth managers are expected to keep reassessing risk appetite, product demand and geographic diversification. Higher-for-longer interest-rate expectations, uneven China growth, equity-market concentration, currency volatility and geopolitical uncertainty have all shaped conversations between relationship managers and clients. Private wealth clients are also demanding clearer portfolio construction advice rather than purely transactional product access, increasing the importance of adviser training and investment governance.

PWMA’s announcement also reinforces the continued centrality of large banking groups in Hong Kong’s wealth ecosystem. While independent asset managers, multi-family offices, fintech firms and external asset managers are growing, the Executive Committee remains anchored by major private banks and universal banks with significant regional platforms. That structure reflects how the city’s private wealth market is still organized: large banks provide much of the client infrastructure, custody, lending, investment access and compliance capacity, while ecosystem partners increasingly support specialized services.

For clients, the announcement does not immediately change service terms, adviser relationships or investment offerings. Its implications are more institutional. The committee will help determine how the industry communicates priorities to regulators and government, how it frames professional standards, and how it responds to issues that could affect confidence in Hong Kong as a wealth-management center. In a sector where reputation, trust and regulatory clarity are central to competitiveness, those functions can be commercially meaningful even when they do not appear directly on a bank’s balance sheet.

The announcement keeps PWMA’s leadership focused on a familiar set of themes: growth, collaboration, professional standards, innovation and Hong Kong’s role as a private wealth hub. The next test will be whether the committee can translate broad industry representation into practical progress on talent, regulatory dialogue and market positioning as wealth managers compete for a larger share of Asia’s private capital.