With more than 26 years’ experience, Shin will be taking on the CEO responsibilities and day-to-day operations from Jowin Fung, who will now focus on his current role as vice chairman. Both persons will report to Stephen Yan, chairman, WRISE Prestige.

The duo lead a team of 180 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.

“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,” Yan said.
 

Left to right: Stephen Yan, chairman of WRISE Prestige, Derrick Tan, chairman of WRISE Group, Jowin Fung, vice chairman of WRISE Prestige, and Henry Shin, chief executive officer of WRISE Prestige.
 

Platform
WRISE – a platform linked with 150 financial partners, including Goldman Sachs, JP Morgan, UBS and others – is able to sell products to HNW clients via WRISE offices in Hong Kong, Singapore, Tokyo and Dubai. In June this year, WRISE Prestige formed a strategic pact with Kingkey Privilege Wealth Management, a provider of life insurance, over-the-counter (OTC) securities, and funds.

The WRISE Prestige business was launched – as covered here – in February to cover the mass-affluent market, and the next generation of high net worth individuals in Asia-Pacific. WRISE is working on the basis that, by 2030, Asia's middle class will amount to more than 3.5 billion people, with Southeast Asia’s mass-affluent individuals forecast to reach 136 million. (This news service has recently reflected on the challenges of serving this market segment. See another article on the Asian mass-affluent market, here.)

In January this year, WRISE also set up operations in Dubai.

The roster of companies include WRISE Wealth Management (Singapore), WRISE Wealth Management (Hong Kong), WRISE Wealth Management (Middle East), WeWrise Services, and Voo Technologies and affiliated companies WRISE Prestige Securities (Hong Kong), WRISE Prestige Asset Management (Hong Kong), and WRISE Financial Services (Hong Kong).