Singaporean, Swiss banks target Hong Kong as rivals feel geopolitical chill

Hiring picks up as OCBC chief says clients turning to them over 'Western counterparts'

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Hong Kong's Central financial district. Geopolitical tensions between China and the West loom over the city, but some banking institutions see an opportunity. (Photo by Kenji Kawase)

ECHO WONG, Nikkei staff writer

HONG KONG -- Singaporean and Swiss financial institutions are making pitches to win more Hong Kong clients as concerns over geopolitical tension between China and the U.S. open doors.

Top Singaporean banks DBS and OCBC as well as several Swiss private banks are ramping up their hiring of relationship managers in Hong Kong. Executives say this comes as American players adopt a more cautious approach to the Chinese mainland and the city, which has increasingly come under Beijing's sway.

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