Helping Asian Wealth Management Communities interact

JPMorgan back launch of Women’s Wealth Management Network in Asia

Nov 4, 2019 Hubbis

JPMorgan Private Bank have been announced as the first partner of the WealthiHer Network Asia, which aims to create a wealth management network to encourage the industry to become more female-focused.

The bank was a founding partner of WealthiHer’s UK network, alongside Barclays, HSBC Private Bank and Julius Baer; it was launched in March of 2019.

Kam Shing Kwang, the CEO for Asia of JPMorgan Private Bank, has said of the partnership that “We at JPMorgan are thrilled to be the first in Asia to announce our support to the networking effect of women helping other women improve their financial health.”

“We have a global commitment to advancing women’s financial confidence, as well as their career growth and entrepreneurial success,” Kwang added.

WealthiHer hopes to bring together leading banks in the industry to help facilitate the empowerment and advancement of women, following a study by Kantar which revealed that women are 33% less likely than men to be the sole decision maker on investment products, and 49% of women surveyed said that they lacked confidence in financial matters.

The same study also revealed that in Hong Kong, 60% of women were likely to be denied funding, and that in Singapore, 80% of the women surveyed expressed concerns about gender bias in the financial industry, according to a report by Citywire Asia.

Tamara Gillan, Co-Founder of WealthiHer, said of the announcement that “It is our plan to launch The WealthiHer Network in Hong Kong through a collaboration with the leading change agents from the financial sector. Expanding to Asia is a huge milestone for The WealthiHer Network, and we’re grateful to JP Morgan to help us start and grow quickly.”