Consulting firm Capco reported that private wealth assets in Hong Kong rose 24% last year, while employment in the industry only increased by 2% due to the adoption of technology, including AI, to enhance team productivity. The Securities and Futures Commission (SFC) noted that financial firms in Hong Kong managed HK$42.2 trillion (US$5.38 trillion) in assets last year, up 20% year-on-year, with private bank and family office assets growing 24% to HK$12.9 trillion, driving this expansion.