Taiwan Cathay United Bank Partners with Technology Provider Avaloq to Launch Private Banking Operations in Taiwan New Asset Management Hub in Kaohsiung to Provide Private Banking Services to HNWIs in Taiwan
15th July | Hong Kong
Taiwan Cathay United Bank has partnered with technology provider Avaloq to launch private banking operations in Taiwan new Asset Management Hub in Kaohsiung to provide private banking services to HNWIs (High net worth individuals) in Taiwan. Announcement (14/7/25): “Taiwan has launched a new Asset Management Hub in Kaohsiung to accelerate the development of onshore private banking and strengthen its position as a regional wealth management centre. As the first bank to establish private banking operations under this initiative, Cathay United Bank, in partnership with its longstanding technology provider Avaloq, is helping to shape the future of onshore private banking in Taiwan. Headquartered in Taipei, Cathay United Bank is a leading financial institution in Taiwan with a strong track record in wealth management. Following the liberalization of local regulations, the bank partnered with Avaloq in 2020 to help establish Taiwan’s onshore and offshore private banking sector, leveraging the Avaloq platform’s core banking capabilities to enhance operational efficiency and client service. Building on this foundation, the Financial Supervisory Commission (FSC) has now introduced an Asset Management Hub in Kaohsiung to promote the development of Taiwan’s onshore wealth management and private banking industry. The initiative is designed to foster homegrown expertise and allows financial institutions to offer a wide range of banking and investment services, including active ETFs and passive multi-asset ETFs, consultancy for family offices and high-value insurance products. Cathay United Bank is taking a pioneering role as the first financial institution to establish private banking operations in the new Kaohsiung Asset Management Hub. The bank is working closely with Avaloq to set up a new booking centre and operational base in Kaohsiung, delivering tailored private banking services to high-net-worth individuals across Taiwan. As a leader in wealth management technology and services, Avaloq has been instrumental in enabling financial institutions across Asia to scale their operations and meet evolving client needs. With over 40 years of experience in wealth management and private banking technology, Avaloq is ideally positioned to support Cathay United Bank’s expansion into this new onshore business. Avaloq will provide end-to-end support for Cathay United Bank’s private banking operations in Kaohsiung, enhancing operational efficiency across the front, middle, and back office through high straight-through processing (STP) and data consistency. In addition, the Avaloq platform will provide front-office automation, supporting the bank’s portfolio management, client relationship management, and client lifecycle management, while ensuring seamless integration with the bank’s existing systems. These capabilities will help Cathay United Bank streamline operations, supporting revenue growth and enabling more personalized client service.” In 2024 December, Cathay United Bank was reviewing plan to introduce Discretionary Portfolio Management (DPM) service for Private Banking in Hong Kong & Singapore. In 2024 June, Taiwan largest financial group Cathay Financial Holding (Cathay FHC) is increasing hiring in Singapore from 100 employees based in Singapore in 2022 to around 200 employees by 2025, including hiring more corporate relationship managers & private bankers. Cathay Financial Holding clients are shifting & expanding into Southeast Asia due to supply-chain diversification. Ex-HSBC veteran Winfield Wong is Cathay United Bank CEO of Singapore. Cathay Financial Holding includes Cathay United Bank, Cathay Life, Cathay Century Insurance, Cathay Securities & Cathay Securities Investment Trust. Cathay Financial Holding current market value is around $29 billion (19/6/24). Cathay Financial Holding Chairman is Tsai Hong-tu (son of Tsai Wan-lin), and cousin of (Taiwan) Fubon Financial Holding Chairman Daniel Tsai. Tsai Wan-lin (1924 to 2004) was Taiwan richest man, is co-founder of Cathay Life, and founder of Lin Yan Group which owns Cathay Financial Holding. Cathay FHC is the largest financial group in Taiwan, with total assets of over US$400 billion. The group includes leading players in life insurance, banking, property and casualty insurance, asset management, securities, and venture capital. With a presence in 12 markets in Asia, Cathay FHC is dedicated to becoming a leading financial institution in the region.
“ Taiwan Cathay United Bank Partners with Technology Provider Avaloq to Launch Private Banking Operations in Taiwan New Asset Management Hub in Kaohsiung to Provide Private Banking Services to HNWIs in Taiwan “
Robert Fuh, Chief Executive Officer of Private Banking at Cathay United Bank: “Our partnership with Avaloq has played a key role in expanding our wealth management capabilities in Taiwan, Hong Kong and Singapore. We are proud to be the first bank to establish onshore private banking operations in the new Kaohsiung Asset Management Hub, demonstrating our leadership in the Taiwanese financial sector and to serving the needs of Taiwanese investors. We thank the Financial Supervisory Commission (FSC) for this forward-looking initiative, which will help drive growth in Taiwan’s financial sector and deliver greater value for investors.”
Eliza Chang, Regional Director for North Asia at Avaloq: “The establishment of the new Asset Management Hub in Kaohsiung marks a significant milestone for Taiwan, and we are delighted to support Cathay United Bank as a pioneer in Taiwan’s new onshore private banking sector. We have a strong track record in enabling and developing Cathay United Bank’s wealth management operations both onshore and offshore – and this marks an exciting new chapter in our partnership. Our community of clients can depend on our industry expertise, leading platform and understanding of local regulations to support their growth and help them respond quickly to evolving market demands.”
Taiwan Cathay United Bank Plans Discretionary Portfolio Management (DPM) Service for Private Banking in Hong Kong & Singapore
3rd December 2024 – Taiwan Cathay United Bank is reviewing plan to introduce Discretionary Portfolio Management (DPM) service for Private Banking in Hong Kong & Singapore. In 2024 June, Taiwan largest financial group Cathay Financial Holding (Cathay FHC) is increasing hiring in Singapore from 100 employees based in Singapore in 2022 to around 200 employees by 2025, including hiring more corporate relationship managers & private bankers. Cathay Financial Holding clients are shifting & expanding into Southeast Asia due to supply-chain diversification. Ex-HSBC veteran Winfield Wong is Cathay United Bank CEO of Singapore. Cathay Financial Holding includes Cathay United Bank, Cathay Life, Cathay Century Insurance, Cathay Securities & Cathay Securities Investment Trust. Cathay Financial Holding current market value is around $29 billion (19/6/24). Cathay Financial Holding Chairman is Tsai Hong-tu (son of Tsai Wan-lin), and cousin of (Taiwan) Fubon Financial Holding Chairman Daniel Tsai. Tsai Wan-lin (1924 to 2004) was Taiwan richest man, is co-founder of Cathay Life, and founder of Lin Yan Group which owns Cathay Financial Holding. Cathay FHC is the largest financial group in Taiwan, with total assets of over US$400 billion. The group includes leading players in life insurance, banking, property and casualty insurance, asset management, securities, and venture capital. With a presence in 12 markets in Asia, Cathay FHC is dedicated to becoming a leading financial institution in the region.
Taiwan Largest Financial Group Cathay Financial Holding to Increase Hiring in Singapore from 100 Employees Based in Singapore in 2022 to Around 200 Employees by 2025 Including Hiring Corporate Relationship Managers & Private Bankers, Cathay Financial Holding Clients are Shifting & Expanding into Southeast Asia Due to Supply-Chain Diversification, Ex-HSBC Veteran Winfield Wong is Cathay United Bank CEO of Singapore, Cathay Financial Holding Includes Cathay United Bank, Cathay Life, Cathay Century Insurance, Cathay Securities & Cathay Securities Investment Trust, Cathay Financial Holding Market Value is $29 Billion
20th June 2024 – Taiwan largest financial group Cathay Financial Holding (Cathay FHC) is increasing hiring in Singapore from 100 employees based in Singapore in 2022 to around 200 employees by 2025, including hiring more corporate relationship managers & private bankers. Cathay Financial Holding clients are shifting & expanding into Southeast Asia due to supply-chain diversification. Ex-HSBC veteran Winfield Wong is Cathay United Bank CEO of Singapore. Cathay Financial Holding includes Cathay United Bank, Cathay Life, Cathay Century Insurance, Cathay Securities & Cathay Securities Investment Trust. Cathay Financial Holding current market value is around $29 billion (19/6/24). Cathay Financial Holding Chairman is Tsai Hong-tu (son of Tsai Wan-lin), and cousin of (Taiwan) Fubon Financial Holding Chairman Daniel Tsai. Tsai Wan-lin (1924 to 2004) was Taiwan richest man, is co-founder of Cathay Life, and founder of Lin Yan Group which owns Cathay Financial Holding. Cathay FHC is the largest financial group in Taiwan, with total assets of over US$400 billion. The group includes leading players in life insurance, banking, property and casualty insurance, asset management, securities, and venture capital. With a presence in 12 markets in Asia, Cathay FHC is dedicated to becoming a leading financial institution in the region.
About Cathay Financial Holdings – Cathay Financial Holdings has established its presence in Taiwan on December 31, 2001, with registered capital of NTD$120 Billion. Composed of insurance, securities, banking and other diversified financial institutions, Cathay Financial Holdings has become a full-functioning financial platform. With robust sales forces and committed financial advisors across Taiwan, Cathay is to develop its cross-selling strategy and provide a one-stop shopping convenience for its customers.
- Cathay Life, a subsidiary of Cathay Financial Holdings, is the flagship insurance company in Taiwan and has the largest sales foreces in Taiwan. Cathay Life has been the largest insurance company in terms of policy in force for years, which is contributed by its versatile experiences in product design and sales team management. Additionally, Cathay Life has established a satellite long-distance educational channel (Classroom, Satellite, Network and CSN) and its transmission coverage covers Taiwan and Southeastern China.
- Cathay United Bank has demonstrated a prominent growth momentum in both corporate & consumer banking business. In terms of credit card in force and transaction volume, Cathay United Bank is one of the leading banks in Taiwan. In addition, its home mortgage business has also grown rapidly with the support of quality of services and prudent management.
- Cathay Century Insurance has delivered impressive results in terms of operational indicators. It has provided toll-free customer service telephone, claim reporting system for 24 hours service, and extensive branch offices around the country. Car claim and indemnity policy have also gained recognition of ISO9001. Cathay Century Insurance has dedicated to improve efficiency by implementing electronic commerce, and won the “Best in E-Commerce Award” consecutively.
- Cathay Securities primary businesses include retail and institutional securities brokerage, financial product structuring, asset securitization, underwriting and proprietary trading. Cathay Securities further strengthens and completes the existing financial services platform of Cathay Financial Holdings and reinforces its commitment to leveraging cross-selling opportunities and providing customers with “one-stop shopping” across a broad range of financial products and services.
- Cathay Securities Investment Trust (CSIT) is committed to delivering superior and consistent fund performance. We rigorously recruit professional managers and analysts with a wealth of experience in operations management and investment research. Upholding the group’s core philosophy of “strong roots, steady growth”, CSIT is dedicated to the principles of Business Diligence, Customer First, Reliability and Trustworthiness, and Integrity and Stability, in its ultimate pursuit of offering outstanding services.
- With a comprehensive network of 700 branches and nearly 30 thousand sales forces, Cathay services more than 13 million customers.
- In addition to standing firmly in home market, Cathay has been actively extending its footprints in Asia Pacific. Our strategic focus is to establish a regional platform that enables us to provide integrated financial services to our international clientele and prospective customers. We will work toward to make Cathay Financial Holdings become a leading financial institution in Asia Pacific.
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