Southeast Asia’s digital wealth management platform StashAway recently revealed that John Tsang Chun-wah, Hong Kong’s former Financial Secretary, has officially joined StashAway’s advisory committee.
Tsang was reportedly the longest-serving Financial Secretary as he had occupied the position from 2007 until 2017.
As mentioned in the announcement, Tsang brings extensive expertise that should benefit customers as well as the brand as he has over 30 years of professional experience working in Hong Kong’s civil service sector across the government offices focused on trade, commerce, housing, industry, technology, and finance.
During his tenure as Financial Secretary for the HKSAR, Hong Kong’s economy expanded at a steady pace, with the government reporting surpluses each financial year.
StashAway’s management noted that as its advisor, Tsang will offer a “dependable voice to the public when it comes to investing, having consistently been a strong advocate of education.”
John Tsang Chun-wah said:
“Currently, there’s a lack of sensible investment options in Hong Kong, and not enough people are taking charge of their personal finances. StashAway is helping people in Hong Kong build long-term wealth while making it easy to learn about personal finances and investing. I’m closely aligned to the company’s mission and am proud to be part of this journey.”
Stephanie Leung, Head of StashAway Hong Kong and Group Deputy CIO, remarked:
“Mr. John Tsang truly understands the public – from their concerns about their everyday finances through to investing towards their retirement. With him joining our advisory committee, he brings us closer to empowering more people to achieve long-term wealth.”
Tsang noted that he has decided to give away part of his Choi Yeah NFT collection to new StashAway customers who make an investment of HKD 50,000 (or more) as part of their first deposit.
Stephanie Leung, Group Deputy CEO at Southeast Asia’s StashAway, a digital wealth manager, noted in January 2022 that the COVID-19 outbreak has accelerated three key trends: a new inflation regime, China’s economic recovery, and the Fourth Industrial Revolution.
According to Leung’s observations, the Coronavirus pandemic has continued to affect international events in “sometimes unpredictable ways this past year.” He pointed out that we all saw “unprecedented stimulus spending in the US, weakened economic growth in China, and now, a new COVID variant creating uncertainty in the markets and our portfolios.”
He added that the global response to the pandemic “resulted in record-high inflation rates.”