17 January 2024

The Hang Seng University of Hong Kong (HSUHK) held a Memorandum of Understanding (MoU) signing ceremony between its Institute of Continuing and Professional Education (ICAPE), and Sun Life Hong Kong Limited (“Sun Life Hong Kong”) yesterday, to facilitate knowledge exchange in the field of family wealth succession. The signing marked the beginning of a collaboration to launch training programmes on “Frontier Knowledge of Contemporary HNWI Financial Planning Strategy”, and “Family Office Practice”. The courses have been designed to give industry practitioners a platform to share their professional knowledge, enabling them to discuss family wealth succession, family offices, and other areas that pertain to high-net-worth individuals’ financial needs, such as insurance, wealth management, and financial planning.

The MoU was signed by Professor Simon S M Ho, President of HSUHK, and Mr Clement Lam, Chief Executive Officer of Sun Life Hong Kong, and witnessed by Dr John Leung, HSUHK’s Associate Vice-President (Knowledge Exchange) and Director of ICAPE, and Ms Christine Yeung, General Manager for Life and Health, Sun Life Hong Kong.

Professor Ho shared his thoughts on the partnership by saying “The strategic partnership between HSUHK and Sun Life Hong Kong is of great significance. As the first university in Hong Kong to collaborate with an international financial enterprise to develop a training programme for family office at a corporate level, we are committed to providing professional training programmes for their employees, agents, and brokers. Through these training courses, we aim to familiarise industry practitioners with the concepts of family offices, wealth management, and family succession. We also hope to nurture the relevant skills and professional knowledge required to establish family offices. In doing so, we aim to enhance professionalism in the insurance industry, and further position Hong Kong as the preferred location for establishing family offices among international cities.”

Dr John Leung noted “Sun Life, with its long history and global reputation, covers a wide range of services, including personal and corporate insurance, financial planning, MPF, and more. Sun Life is also a leader in the health sector. HSUHK’s numerous resources can be leveraged to further develop Hong Kong’s industry, including our Chinese Family Succession Research Centre. Together, we can generate and disseminate new knowledge on family succession, and enhance our recent efforts to promote the development of a well-functioning economy. These areas are of high significance to Sun Life’s services. With the University’s academic resources, we can strengthen the corporation’s commercial development, and the academic sector can stay on top of the latest market trends through knowledge exchange to provide effective consultancy and training. Such synergies benefit more stakeholders in society and bring greater overall benefits to Hong Kong.”

Mr Clement Lam enthused, “HSUHK’s courses will have a significant impact on the industry. In the past, many courses have been offered by various organisations related to family offices, but most of them focused on financial management. In response to the needs of Sun Life, and our high-net-worth clients, HSUHK has especially designed a series of professional courses divided into three levels: foundation, advanced, and professional. These courses provide our employees and associates with a balanced understanding of various areas related to family wealth succession, particularly emphasising the importance of interpersonal relationships, and their influence on succession and family office practices. Our courses can rectify many misconceptions that have persisted in the industry. We are pleased to see our employees broaden their horizons and serve society by improving their professional skills.”

In the initial stages of the collaboration, HSUHK will hold over 10 classes with Sun Life Hong Kong from January to June 2024, benefiting hundreds of industry practitioners. Additional classes are expected to launch in the second half of 2024, and will further expand. The courses will enhance practitioners’ knowledge and further advance the industry’s development.