Company leases a 9,000 sq ft space in One International Finance Centre in Central, with an eye towards doubling its staff amid rising demand for wealth services
Fintech company iCapital has more than doubled its office footprint in Hong Kong, leasing a 9,000 sq ft space in One International Finance Centre in the city’s Central business district as it staffs up to capture rising demand for wealth-management services in Asia.
The US company, which opened its office in Hong Kong five years ago, is preparing for its next stage of growth, said Tuan Lam, head of Asia-Pacific at iCapital. The firm’s previous office was in the St. George’s Building on Ice House Street, also in Central.
“We’ve seen a lot of business growth, and now we’re planning for the next three years of growth, as we continue to see the wealth channel increasing,” Lam said. “This is in response to strong client demand, business growth and the need to create the space so we can grow and serve our clients well in the region.”
The new office would accommodate between 55 and 60 staff members by 2029, about double the current headcount, Lam added.
Rapid growth in the wealth-management sector drove Hong Kong past Switzerland as the world’s largest cross-border wealth hub last year, according to Boston Consulting Group.
Cross-border wealth booked in Hong Kong climbed 10.7 per cent in 2025 to US$2.95 trillion, narrowly beating Switzerland’s US$2.94 trillion, the international consultancy said in its latest global wealth report last week.
“The fundamental driver of our business growth is the wealth-management channels’ desire to increase their allocation to global alternative investments and the private markets,” Lam said, adding that the new office included a venue for town hall meetings and hang-outs.
The company services nearly US$1.2 trillion of assets globally on its platform, which helps wealth-management advisers manage their clients’ investment portfolios while providing access to private markets and alternatives including private equity, private credit, real assets and hedge funds.
With the expansion, iCapital becomes the latest financial services company to either move to a more central location or snap up a bigger prime office space, providing a boost to the city’s struggling office market, particularly in Central.
In April, DBS Bank (Hong Kong) agreed to pay about HK$2.62 billion (US$334 million) for six floors at The Center , once the world’s most expensive skyscraper. The purchase added 151,934 sq ft of gross floor area, DBS said.
Before the acquisition, DBS Hong Kong already owned and occupied eight other floors in the 73-storey building in Central.
Meanwhile, Standard Chartered will open a new luxury wealth-management centre this week at One Causeway Bay , the lender’s seventh wealth centre in the city and the 20th worldwide.
As of April, overall vacancy rates in Hong Kong’s premium office spaces stood at 13.5 per cent, unchanged from March, according to data tracked by a property agency. While four other core office areas saw empty spaces tick up, Central’s vacancy rate declined to 9.2 per cent from 9.6 per cent, data showed.
Alongside its expansion in Hong Kong, iCapital has also moved to a new and larger location in Singapore and expanded into Tokyo and Sydney.
Despite heightened geopolitical tensions amid the US-Israel war on Iran, Lam said “fundamental drivers” were leading clients to diversify their portfolios with alternative investments.
