(Bloomberg) -- In the wake of India’s surprise election result, political risks were a big theme at the Bloomberg Wealth summit held in Hong Kong on...
-- In the wake of India’s surprise election result, political risks were a big theme at the Bloomberg Wealth summit held in Hong Kong on Wednesday.Participants from UBS Group AG to Hang Lung Group Ltd. highlighted how geopolitics are on the minds of the richest investors, as they try to navigate wars in Europe and the Middle East, escalating tensions between superpowers, and a year of key elections around the world from Mexico to South Africa and the US.
“Geopolitics are definitely a big concern on all fronts, not just in Asia, but across the world,” said Pierre-Yves Lombard, head of private banking in Japan at Lombard Odier Group. “That concern is leading clients to look for the safest and strongest financial centers” and institutions, he said. “We can’t have such a wide gap,” Vikram Malhotra, co-founder and CEO of wealth management firm 360 ONE Global, said on a panel at the event. “We need to see the benefit of the growth of the economy percolating down.”
“Over time, the whole world will have to rebalance,” said Chan, former chairman of Hang Lung Group. “So let’s make sure that our heads are clear: what is political and what is purely economic.
Hang Lung Group Ltd. UBS Group AG Sonja Laud Hang Lung Group Political Risks Geopolitical Risk Legal & General Investment Management Ltd. Prime Minister Narendra Modi Bloomberg Wealth Summit
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