SINGAPORE--()--Wealth-X, the global intelligence, prospecting and wealth due diligence company, is pleased to announce that it has appointed Steve Farrer as Vice President and Head of Business Development, Greater China. Based in Hong Kong, Farrer will drive the strategic expansion of Wealth-X's business in China.
A former consultant at World-Check and MasterCard International (Asia-Pacific), Farrer brings with him years of experience consulting with organizations, mainly in the financial services sector, on regulatory risk and compliance mitigation.
Latest intelligence published by Wealth-X in the World Ultra Wealth Report estimates there are 11,475 individuals with a minimum net worth of US$30 million each in Mainland China and 3,200 ultra high net worth (UHNW) individuals in Hong Kong.
"We've experienced strong demand for client acquisition solutions intelligence on UHNW from financial institutions, not-for-profits and luxury brands in China, hence there is a need to expand our existing China and Greater China operations," said Mykolas Rambus, CEO of Wealth-X. "With two offices in China; Guangzhou and Hong Kong, we're in a better position to serve our members in this important market."
"As China leads the expansion of UHNW in Asia Pacific, professionals who deal with this client segment find it increasingly difficult to connect and build trust with the ultra wealthy," said Farrer. "Intelligence is the key to unlocking this massive wealth potential, and I'm excited to be joining such a fast-growing organization."
For more information on the World Ultra Wealth Report and intelligence briefings on China, visit www.wealthx.com.
ABOUT WEALTH-X
Wealth-X provides its members with qualified prospects and intelligence on ultra high net worth (UHNW) individuals, along with the privately held-companies they control. We work with 7 of the top 10 global private banks, leading educational institutions, not-for-profits and luxury brands. Our firm's online business development solution profiles individuals who represent US$ 10.7 trillion of the world's net wealth. Wealth-X offers exclusive details on ultra wealthy individuals, including their wealth, income, passions, philanthropic interests, affiliations, politics, advisors, families and biographies. Wealth-X is the global leader on UHNW individuals and the worldwide standard for professionals working with the ultra affluent. Headquartered in Singapore, Wealth-X has offices in Guangzhou, Hong Kong, New York, Mumbai, Lugano, Sydney and London.