HONG KONG, June 21, 2022 /PRNewswire/ — The global financial market has been volatile in recent years due to the epidemic, which has caused many local securities companies, especially small and medium-sized enterprises, to face operational difficulties and even to close. It is fair to say that the market is in a situation of survival of the fittest.
Jerry Tse, Chairman and CEO of Eddid Financial Group
Jerry Tsethe Managing Director of Eddid Financial Group (hereinafter referred to as “Eddid Financial“), believes that as an investor client, security of capital is a decisive factor in choosing financial services. While most people choose large, well-known banks over small, medium or virtual banks, the the same case happened in financial investments Thus, securities houses can hardly compete with solid public companies and foreign financial institutions if they only focus on maintaining their traditional activities.
Take FinTech as its main line of business, Eddid Financial is seeing forward contribute to the financial industry by developing systems.
As a local securities firm rooted in hong kong, Eddid Financial has thought outside the box and adopted differentiation as a market orientation, focusing on providing innovative services and products, of which its FinTech (Financial Technology) division is the most important in the company’s activity, representing more than half of all staff.
In addition to the traditional business of licensed securities brokers, Eddid Financial has also developed its own unique trading application, “Eddid ONE”. Jerry added, “While most securities firms buy their mobile apps from third-party platforms and use their company name, we’ve taken a new approach by using our own financial trading system interface, which can be sold to other securities companies when it becomes mature.” He hopes to set a new milestone for the financial industry and make Eddid Financial become a pioneer in the industry.
In addition, virtual asset management is also a key part of Eddid Financialis an emerging company. Jerry admitted that managing virtual assets in hong kong was still in its infancy and the Legislative Council was still considering the relevant legislative provisions to regulate the management of virtual assets in hong kong. Meanwhile, many stockbrokers, banks and other financial institutions were poised to enter this promising capital market, he said, adding that Eddid Financial has already started its corresponding preparation.
With financial markets shaken by various factors, Eddid Financial concentrates on online and overseas business development.
Focusing on FinTech activities, Jerry thinks the outbreak has had little impact on the business. “As everyone nowadays knows how to use mobile or internet applications to process transactions, customers can open an account through Eddid ONE 24 hours a day with quick and convenient review, which greatly improves efficiency and convenience. user experience.”
However, he also pointed out that the epidemic caused investor clients to become more conservative and reduce their investment amounts during this period because they had less income. “This change is not unique to hong kong, but it is a global phenomenon. Although the outbreak has had both positive and negative effects as working from home becomes more common and investing clients may have more free time to attend to financial transactions or investment analysis.”
National or regional economic policies have a greater impact on financial markets, for example, the restriction of inflows and outflows of capital. Jerry said: “Previously, it was relatively easy for mainland customers to open accounts in hong kong, but now it is fundamentally much tighter, and RMB inflows and outflows are a concern for the financial market. We also plan to define the long-term development in the markets of other countries or regions outside of hong kong and the mainland China.”
Guided by a timely and accurate vision of market opportunities, Eddid Financial seeks market expansion against economyI recession, aiming for a global layout.
The global economic uncertainty of recent years has prompted many of our counterparts in the financial sector to slow down their business development. In order to take advantage of the market, Eddid Financial decided to expand its operations globally in terms of location, talent and business expansion, including creating a new full-floor office in hong kongcan accommodate 160 to 180 people to cope with the development of the activity.
“With more than 200 colleagues from Shenzhen and other parts of China, it is as an innovation and technology base for the development of FinTech business. On the workforce front, we have also started recruiting professionals in various fields and we have increased the workforce in many business areas. For example, the new Wealth Management department, which targets a high-end clientele, requires professionals in charge of heritage products and marketing to meet the development needs of the company.”
Eddid Financial, which previously focused on securities and futures, is diversifying into new lines of business, including a retail business providing wealth management and asset management services to professional investors and clients high net worth (HNW), as well as a buy side like direct investing, with a view to breaking the traditional constraints of corporate finance. “With the rapid pace of market change as technology advances, a second of hesitation or a step behind our peers creates more room for our growth,” Jerry pointed out.
Attracting excellent talent to the management team, winning market opportunities through financial innovations
The future of the financial sector is closely linked to the future of hong kong in general. Jerry pointed out that the demand for asset and wealth management has grown in recent years. By the end of 2020, the total value of wealth management assets and activities in hong kong reached Hong Kong $35 trillion. Among them, virtual assets and the technologies behind them, including blockchain, have brought many potential opportunities for financial innovation and attracted both professional investors and foreign companies. So there is a great need for more talent to enter the industry.
However, the loss of local professionals from all walks of life, fueled by emigration, has made it even more difficult to recruit talent. Jerry said, “We absolutely want to recruit exceptional talent, but quality job seekers also have the freedom to choose their own careers. Why would they choose to join our company over other foreign or public securities companies? That’s why we invite top talent from different fields to join our leadership team and create a platform for them to develop their strengths. We hope to impress the talents in the market with their personal job satisfaction.
To support the Group’s business development, Jerry revealed that the Group would recruit professionals in the areas of wealth management, corporate finance, private equity, FinTech, internet finance, risk and compliance, human resources and administration, etc. a full range of quality global financial services. “Rooted in hong kong with a Global Disposition” is the core value and purpose of Eddid Financial, as well as the general direction of that of Hong Kong development.
Information provided by Eddid Financial
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