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Prudential ceases Hong Kong wealth business

It also closed down its wealth management platform in S’pore back in September.

Prudential has closed its Hong Kong wealth management business, Pulse Wealth, as part of efforts to streamline operations, Reuters reported. 

READ MORE: Prudential shutters Hong Kong wealth unit Pulse

The closure aims to redirect focus towards other wealth offerings while maintaining presence in the Hong Kong market, the insurer told Reuters.

Prudential has established a high-net-worth team to pursue opportunities in Hong Kong. The decision aligns with the company's core wealth strategy. 

ALSO READ: Prudential sees 11% YoY rise in Q1'24 new business profit

This move follows the closure of a wealth management platform in Singapore in September as Prudential restructures its business.

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