Commencement of a New Bank to Offer Wealth Management Services for Individual Investors in Hong Kong 

Establishing a wealth management bank through joint investment by Japanese and Hong Kong companies including Shinsei Bank, Monex Group, AD Capital, Convoy and Tokyu Livable, and to commence operations in the First Half of Fiscal Year 2015 

Shinsei Bank, Limited (President and CEO Shigeki Toma; hereinafter “Shinsei Bank”) together with 10 Japanese and Hong Kong companies including Monex Group, Inc. (Managing Director and Chairman, Representative Executive Officer, President and CEO Oki Matsumoto; hereinafter “Monex Group”), AD Capital Co., Ltd. (CEO Toshihiro Toyoshima; hereinafter “AD Capital”), Convoy Financial Holdings Limited (CEO Mark Kwong Yiu; hereinafter “Convoy”) and Tokyu Livable, Inc. (President and CEO Shinji Sakaki; hereinafter “Tokyu Livable”), has founded Nippon Wealth Limited, a Restricted Licence Bank (hereinafter “NWB”), as a wealth management bank to offer wealth management services to individual customers in Hong Kong, and aims to commence operations in the first half of fiscal year 2015, subject to the approval of the regulatory authorities in Hong Kong.

OJBC Co. Ltd (OJBC), the holding company of NWB, was established through investment by Shinsei Bank and other Japanese and Hong Kong companies in order to address the wealth management needs of individual customers in the region. NWB was then established in August 2013 as a wholly owned subsidiary. NWB was granted a banking license (Restricted Licence Bank) from the Hong Kong Monetary Authority (HKMA) on 2 April, 2015, and will apply for a securities business license to the Hong Kong Securities & Futures Commission (Hong Kong SFC), in order to offer wealth management services. The new bank, by offering wealth management services such as the sale of investment products including deposits, investment trusts, and bonds, in person in Japanese1 , looks to provide full-scale support to its customers in building their assets in Hong Kong.

Appointments to the management team of NWB include Mr. Tsutomu Nakajima, former Director of Monex Group, as CEO, and Mr. Kenichi Hasegawa, who was a general manager of the private banking business of the Hong Kong Branch of a Japanese bank, as the Chief Operating Officer2 , who together bring their significant expertise in the Hong Kong financing, banking and securities businesses to NWB. NWB will provide services face-to-face and over-the-phone3 to its customers from its new office in “The Peninsula Office Tower” adjacent to the landmark Peninsula Hotel in Kowloon, Hong Kong.

Shinsei Bank and Monex Group were the founding investors of OJBC established in June 2013, and since December 2013, other Japanese companies including AD Capital and Tokyu Livable, as well as leading local companies in Hong Kong such as Convoy, the largest IFA (Independent Financial Advisor) in Hong Kong, and Fenix Group Holdings Limited (Chairman Masaaki Ogino; CEO Anthony Keung), which holds the largest high-end super market chain, City Super, within its group, have invested in OJBC. OJBC’s capital as of April 2015 was 37.29 million US dollars, of which Shinsei Bank owns 50% of the voting rights.

As a global financial hub, Hong Kong has seen the creation of a diverse range of financial products and services in its international environment, which were provided to individual customers primarily through European and Chinese financial institutions. NWB will differentiate itself in this market by providing wealth management services with the high level of customer service and attention to detail unique to Japan.

 

Source: Monex Group – Commencement of a New Bank to Offer Wealth Management Services for Individual Investors in Hong Kong 

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