Standard Chartered Bank's Hong Ziyu: Embracing Certainty in an Uncertain World

In March, Shanghai hosted the Formula 1 Heineken Chinese Grand Prix once again. The Shanghai International Circuit roared with engines, reigniting the speed and passion of racing culture in the city.

During the event, Hong Ziyu, Global Head of Private Banking at Standard Chartered and Head of Wealth Management and Retail Banking for Greater China and North Asia, traveled to Shanghai to participate in a series of on-the-ground activities and gave an exclusive interview to Wallstreet.cn. Originally from Fujian, raised in Singapore, and now based in Hong Kong, Hong Ziyu is fluent in multiple languages. He shared his thoughts on F1, AI, and his latest observations on the high-net-worth market.

Balancing Speed, Risk Control, and Innovation

This year, Standard Chartered became an official F1 partner for the first time, inviting high-net-worth clients from around the world to participate in exclusive experiences.

Regarding the partnership, Hong Ziyu said, “F1 races are held in 21 countries and regions, and Standard Chartered has a presence in 19 of those markets, with a high degree of overlap. Also, many global F1 fans have an international outlook, entrepreneurial spirit, and are active in various markets—this aligns closely with our client base.”

More fundamentally, there is a shared value philosophy. F1 teams pursue speed, manage risks, and strike an excellent balance between technological innovation and stability. Similarly, Standard Chartered places great importance on balancing these elements.

“No racing car can win solely by chasing top speed,” Hong Ziyu explained. On the track, speed is crucial, but the outcome often depends on managing risks, strategies, and various variables—paralleling the banking industry.

Additionally, Standard Chartered sponsors the F1 Academy, a fully women’s racing series, to support and develop more female drivers in the sport. The bank will continue exploring initiatives to support young female racers throughout the season. This aligns with the latest trend in the sport—female racing talent is gradually emerging. Founded in 2023, the F1 Academy has quickly grown into a globally influential women’s racing platform, with the Shanghai event serving as its season opener.

Leveraging Technology and Mastering Innovation

F1 emphasizes relentless pursuit of technological and scientific innovation. Internally, Standard Chartered also prioritizes investments in AI and tech innovation. As a global banking group, the bank consistently invests heavily in technology, including its private banking services.

Hong Ziyu revealed that the latest round of technological investment at Standard Chartered is fundamentally reshaping service models. AI has extended from backend risk control to front-end client communication and support. AI systems are now used for monitoring cross-border fund transfers for anomalies, KYC reviews for new clients, and integrating investment banking and fund information under open product architectures—more tools are being developed to provide timely support.

For example, his first piece of information each morning comes from the bank’s system, which consolidates views from various financial institutions.

“Our system can search for ideas from every investment bank and fund company using AI, then provide conclusions to help our wealth managers digest and enhance their insights.”

“Of course, our research team’s perspectives also interact with external opinions, leading to more comprehensive conclusions.”

Standard Chartered is also developing its own AI Agent to assist wealth managers in improving their skills and serving clients better.

Chinese Companies Going Global and Changing Overseas Markets

Across the bank’s global operations, the Greater China and North Asia regions contribute half of the private banking business. Among these, the wealth growth and contributions of Chinese clients are particularly notable.

This concentration is both an advantage and a challenge. To seize ongoing opportunities, Standard Chartered is investing $1.5 billion to upgrade its service capabilities, with 50% allocated to talent development. The bank envisions future wealth managers with broader global perspectives and more agile knowledge updates. Therefore, increasing training for young professionals, especially those with Chinese backgrounds, is a top priority.

This talent strategy reflects deeper market shifts. “Going global” by Chinese enterprises and “intergenerational inheritance” are now the two most important themes among high-net-worth Chinese clients.

As large core enterprises expand globally, their upstream and downstream SMEs are also venturing abroad: Hong Kong, Singapore, Malaysia, Vietnam, Dubai, Africa… Hong Ziyu listed typical needs of Chinese SMEs, noting that more companies are establishing roots overseas. Last year, Standard Chartered hosted a New Year event in Kenya attended by 200 Chinese expatriates.

This network effect forms the entry point for wealth management. “Initially, clients need accounts—markets where they want accounts. Then, it may extend to family accounts. Once trust with the bank is established, it naturally expands into wealth management.”

In a low-interest-rate environment, clients’ demand for returns from wealth management products is increasing. This requires the bank’s retail wealth system to adopt layered strategies: for example, QDII funds for international allocation, forex trading for active management, and investment-linked insurance products offering higher returns to attract conservative funds. Different markets also require tailored products—for instance, entrepreneurial clients with leverage experience can flexibly use investment leverage in overseas markets.

Intergenerational Inheritance and Underlying Logic

Cross-border expansion of business broadens the geographic scope of wealth management, while client demographics are evolving—particularly with the rise of the younger generation, which is redefining the core services of private banking.

“The biggest challenge in private banking is how to serve the second generation of family wealth,” Hong Ziyu admitted.

“Second-generation clients are different from their parents. The first generation grew up reading newspapers and trusts their financial advisors; the second grew up in international educational environments, with richer information and knowledge reserves. Our wealth managers must be well-prepared for this.”

“Chinese clients are very good at math, learn quickly, and are interested in good funds, hedging, and leverage products. The rise of family offices also signals this trend—people increasingly view wealth management through a professional lens.”

The use of family wealth also prompts deeper shifts in service models. Wealthy families often return to their “roots”—building schools, ancestral halls, or high-rise buildings. Banks must follow suit, providing meticulous services.

Of course, the underlying logic of intergenerational transfer remains rooted in Chinese culture. “Chinese tend to value relationships and emotions more. The more overseas investments they make, the more they seek trusted relationship managers.”

Perhaps this is the confidence that has supported Standard Chartered, rooted in China for nearly 170 years, continuously expanding alongside Chinese enterprises and individuals on the global stage.

Risk Warning and Disclaimer

Market risks are inherent; investments should be cautious. This article does not constitute personal investment advice and does not consider individual users’ specific investment goals, financial situations, or needs. Users should consider whether the opinions, views, or conclusions herein are suitable for their particular circumstances. Invest at your own risk.