Cathay United opens private bank in Kaohsiung

By Vriti Gothi

Cathay United Bank has launched an onshore private banking operation within Taiwan’s Kaohsiung Asset Management Hub.

This milestone initiative, delivered in close collaboration with trusted technology partner Avaloq, underscores Cathay United Bank’s commitment to driving digital transformation, fostering financial innovation and advancing customer-centric wealth management services.

Taiwan’s Financial Supervisory Commission (FSC) recently unveiled the Kaohsiung Asset Management Hub as a cornerstone for developing the country’s onshore wealth management industry. By nurturing local expertise and broadening the spectrum of available services — from sophisticated ETFs and multi-asset solutions to bespoke family office consulting and tailored insurance offerings the Hub aims to cement Taiwan’s position as a premier destination for high-net-worth individuals seeking world-class private banking services.

As the first institution to operationalise this vision, Cathay United Bank is setting up a dedicated booking centre and operational base in Kaohsiung, purpose-built to deliver highly personalised private banking services to affluent clients nationwide. Building on its extensive experience and reputation as a leader in wealth management, the bank will harness Avaloq’s market-leading core banking platform to ensure operational excellence, robust compliance and an elevated client experience.

Avaloq, a global frontrunner in wealth management technology, will provide end-to-end support for the new operations, integrating front, middle and back-office functions with high straight-through processing (STP) capabilities and seamless data consistency. The platform’s automation features will strengthen portfolio management, client relationship management and lifecycle servicing, while integrating effortlessly with Cathay United Bank’s existing technology landscape. These capabilities are designed to streamline operations, boost revenue potential and enable deeply personalised, responsive client engagement.

Robert Fuh, Chief Executive Officer of Private Banking at Cathay United Bank, said, “Our partnership with Avaloq has been instrumental in expanding our wealth management footprint across Taiwan, Hong Kong and Singapore. As the first bank to establish onshore private banking operations within the Kaohsiung Asset Management Hub, we are proud to play a pioneering role in this landmark national initiative. We thank the FSC for its progressive approach, which will strengthen Taiwan’s financial sector and deliver enduring value for our clients.”

Eliza Chang, Regional Director for North Asia at Avaloq, said, “The launch of the Kaohsiung Asset Management Hub is a significant step forward for Taiwan’s wealth management landscape. We are honoured to support Cathay United Bank as it leads the way in developing the new onshore private banking sector. Backed by our decades of expertise, innovative platform and deep knowledge of local regulatory requirements, we look forward to powering Cathay United Bank’s growth ambitions and enabling it to adapt swiftly to evolving client needs.”

With this strategic expansion, Cathay United Bank reaffirms its vision to deliver world-class, digitally enabled private banking for Taiwan’s high-net-worth community — positioning itself at the forefront of a new era in regional wealth management.