US fintech iCapital more than doubled its Hong Kong footprint, leasing a 9,000 sq ft office in One International Finance Centre in Central, moving from St George's Building on Ice House Street, as it plans to double its staff amid rising demand for wealth-management services in Asia.
EXPANSION AND LOCAL COMMITMENT
iCapital opened its Hong Kong office five years ago.
"We've seen a lot of business growth, and now we're planning for the next three years of growth, as we continue to see the wealth channel increasing," said Tuan Lam, iCapital’s head of Asia-Pacific. "This is in response to strong client demand, business growth and the need to create the space so we can grow and serve our clients well in the region."
MARKET CONTEXT AND IMPLICATIONS
Hong Kong overtook Switzerland as the world's largest cross-border wealth hub in 2025, with US$2.95 trillion of cross-border wealth booked against Switzerland's US$2.94 trillion, Hubbis reported.
Tuan Lam, iCapital’s head of Asia-Pacific, said the firm planned to roughly double its Hong Kong headcount, to between 55 and 60 staff by 2029, about double its current headcount. "The fundamental driver of our business growth is the wealth-management channels' desire to increase their allocation to global alternative investments and the private markets," Lam said.
Sources: South China Morning Post, Hubbis