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Wealth-X appoints Steve Farrer as head of Greater China

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Wealth-X, the global intelligence, prospecting and wealth due diligence company, has appointed Steve Farrer as Vice President and Head of Business Development, Greater China. Based in Hong Kong, Farrer will drive the strategic expansion of Wealth-X’s business in China.

A former consultant at World-Check and MasterCard International (Asia-Pacific), Farrer brings with him years of experience consulting with organisations, mainly in the financial services sector, on regulatory risk and compliance mitigation.

Latest intelligence published by Wealth-X in the World Ultra Wealth Report estimates there are 11,475 individuals with a minimum net worth of USD30 million each in Mainland China and 3,200 ultra high net worth (UHNW) individuals in Hong Kong.

"We’ve experienced strong demand for client acquisition solutions intelligence on UHNW from financial institutions, not-for-profits and luxury brands in China, hence there is a need to expand our existing China and Greater China operations," says Mykolas Rambus, CEO of Wealth-X. "With two offices in China; Guangzhou and Hong Kong, we’re in a better position to serve our members in this important market."

"As China leads the expansion of UHNW in Asia Pacific, professionals who deal with this client segment find it increasingly difficult to connect and build trust with the ultra wealthy," says Farrer. "Intelligence is the key to unlocking this massive wealth potential, and I’m excited to be joining such a fast-growing organisation."
 

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