The Hong Kong Special Administrative Region (“HKSAR”) Government has launched a three-year Pilot Programme to promote talent training for the asset and wealth management (WAM) sector since 2016 and extended the programme until 2023.
The pilot programme to enhance talent training for the asset and wealth management sector (the WAM Pilot Programme) is funded by the HKSAR Government as part of its effort to facilitate the long-term sustainable development of the sector. The WAM Pilot Programme was launched in 2016, targeting at undergraduate students and in-service practitioners, with a view to attracting new blood and enhancing the professional competency of the sector.
- To promote the industry with particular focus on students and graduates by allowing them to better understand the full spectrum of functional posts and career prospects of different sub-sectors within the sector
- To attract and expand the talent pool for middle and back offices such as risk management, compliance and operations
- To enhance the competency and professionalism of in-service practitioners within the WAM sector for career advancement
- To assist other practitioners within the financial services industry, particularly those working in small and medium sized institutions, to acquire the knowledge and skills required for entering the asset and wealth management field
Overview of WAM Pilot Programme
The WAM Pilot Programme has three initiatives which are specifically designed for promoting the WAM industry to the younger generation, expanding the talent pool and enhancing the skills and knowledge of financial services practitioners:
- Promotion and Education, aimed at undergraduate students
- Internship Programme, tailored for undergraduate students who will continue study after internship period
- Financial Incentive Scheme for Professional Training, for in-service practitioners from across the financial services industry
These initiatives were rolled out in phases since 2016.