UBS Wealth Management Asia Pacific Chairman and UBS Hong Kong Chief and CEO Amy Lo said during an interview that with the continued strong momentum in the Asian markets and the revival of the IPO market driving the development of the entire industry, the bank will continue to expand its recruitment in Hong Kong and the Asian region. The Swiss bank attracted $18.6 billion in net new assets in the first quarter in the Asia-Pacific region and has plans to hire 50 bankers in its wealth management business in Hong Kong this year. With a large influx of capital from mainland China and the stock market recovery, Hong Kong has surpassed Switzerland to become the world's largest cross-border wealth center. According to a report by the Boston Consulting Group, Hong Kong's wealth management scale increased by 10.7% to $2.95 trillion last year, surpassing Switzerland's $2.94 trillion, making it the largest cross-border wealth management center in the world. The Boston Consulting Group predicts that with the rapid accumulation of wealth in Asia, the wealth gap between Hong Kong and Switzerland will widen to nearly $600 billion by 2030, benefiting from China's leading position in the manufacturing industry and the recovery of Hong Kong's IPO market.