Hong Kong, September 16, 2024 — The Hong Kong Academy for Wealth Legacy (HKAWL)’s flagship Legacy Summit successfully concluded on September 14, following three days of insightful sessions facilitating global family offices to build lasting legacies, supported by the Global Family Office of Invest Hong Kong.

Attesting to Hong Kong’s continued strength as a hub for family offices, the highly anticipated peer-to-peer event attracted over 140 local, Chinese mainland and international family principals, next-gen asset owners and single-office leadership, who engaged in dialogue ranging from family governance, philanthropy and impact investing, to innovation.

Impact Link Showcase Debut - Empowering Families to Amplify Impact

The Summit kicked off with an engaging reception on September 12, where Impact Link (iLink) made its debut showcase to the Summit delegates. Strategic Partners of iLink including Fondation de France Asia, Institute of Philanthropy empowered by The Hong Kong Jockey Club and Yidan Prize Foundation shared sample projects or illustrations of their work, encouraging asset owners to join forces in scaling up impact.

As a depository of worthy charitable projects, iLink seeks to connect donors with impactful projects, and allow families to maximize the power of their catalytic capital. It will list projects nominated and vetted by its Strategic Partners in phases. Eligible donors can access information of the projects on the platform. The debut showcase demonstrated HKAWL’s commitment to impactful legacy building.

In conjunction with the Legacy Summit, the Academy also co-hosted a closed-door philanthropy workshop in collaboration with the Bill & Melinda Gates Foundation. The exclusive event provided a unique opportunity for asset owners and family offices to embark on a transformative journey of giving, challenging the participants to explore ways to be collaborative and strategic in approaching philanthropy and impact.

Hong Kong - a Prime Destination to Realise Sustainable Legacies 

The main Summit took place on September 13. Themed “Holistic Legacy: Consideration of Family Legacy, Business and Office”, it explored strategies for implementing comprehensive governance approaches across family, family business and family offices. It served as a unique peer-only platform for dialogue on effective intergenerational wealth management and creation of impactful and sustainable legacies.

The Honourable Paul MP Chan, Financial Secretary of the Hong Kong SAR Government, graced the occasion as the Guest of Honour. Mr Chan highlighted Hong Kong's unique advantages for building legacies, “With our institutional advantages, favourable government policies, a vibrant asset and wealth management sector, talent, lifestyle, and an extensive philanthropic network and projects, Hong Kong stands as the premier platform to realise your aspirations and legacies.”

Dr Adrian Cheng, Chairman of the HKAWL, urged families and asset owners to leverage Hong Kong’s unique role as a regional wealth hub with unparalleled global access. He stated, “With our rich heritage in serving Asia’s wealthiest since the 1940s …… nowhere in Asia is there a city that better understands the importance of legacy, and the value of building connectivity with the world.”

A panel discussion titled “Hong Kong as Family Business Nexus”, featured Hong Kong’s leading business family representatives including Mr Adam Kwok, Executive Director of Sun Hung Kai Properties, and Mr Daryl Ng, Deputy Chairman of Sino Group, with Dr Adrian Cheng, Executive Vice-Chairman and CEO of New World Development, as moderator. Each panellist shared his family experience in building and preserving the family legacy, and each offered a unique vantage point of how Hong Kong anchor for family businesses has evolved and encouraged attendees to view Hong Kong not just as a market, but as a pivotal nexus for growth, innovation, and family legacy continuation.

Another panel focused on the “Future of Innovation”, with prominent founders including Mr Eric Gnock Fah, President & Co-Founder of Klook, Prof Samuel Au, Founder & CEO of Cornerstone Robotics, Mr Wei Liu, Co-Founder & CEO of BioMap, and Mr Wes Ng, CEO & Co-Founder of CASETiFY, moderated by Ms. Gita Sjahrir, Head of Investments of BNI Ventures from Indonesia. The panel shared their experiences in founding, scaling and investing in businesses centred around and driven by continuous innovation, providing insights into emerging technologies and entrepreneurial strategies that can serve as reference for families’ continuous cycles to further enduring legacies. 

During the Legacy Summit, “Family Governance Roundtable Discussions” facilitated by seasoned practitioners in family advisory provided a space for participants to engage in meaningful dialogue and experience sharing around developing effective family governance structures. 

Delegates marvelled at Hong Kong’s rich arts and cultural establishments through multiple guided tours of the M+ Museum and K11 Museum, after a presentation by the West Kowloon Cultural District that provided insight into the development of this multi-year cultural, lifestyle, and business district.

The success of the HKAWL Legacy Summit demonstrates Hong Kong’s continued ability to convene decision makers from across the global family business landscape and provides a nurturing and effective operating environment for creating impact and long-lasting legacies.

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