Base desires

Laying Down The Law
DAC Beachcroft

After 13 years in Singapore, UK-based law firm DAC Beachcroft expanded its Asian network at the request of its clients, launching a Hong Kong office in 2024.

Spearheaded by partners Ross Risby and Wai Yue Loh (pictured), this latest venture strengthens the firm’s commitment to delivering high-level legal services in Asia while meeting the rising demand for a global outlook.

Insurance is the cornerstone of DAC Beachcroft’s business, contributing two-thirds of its global revenue. Risby leads the insurance practice in Hong Kong and emphasises the city’s strategic importance. “Global players are doing their insurance all over the world, but clients really want us in both Hong Kong and Singapore so that we can assist them at each end.”

DAC Beachcroft’s Hong Kong office has also created an opportunity to grow its shipping practice. “Hong Kong, London and Singapore are the three jurisdictions where disputes arising from shipping are to be resolved,” says Loh, who heads the firm’s shipping and international trade divisions. “If one is capable of servicing these three jurisdictions then the whole chain is covered.” In a legal landscape where agility and expertise is paramount, DAC Beachcroft’s Hong Kong expansion sets a confident tone.

Connecting Key Markets
Qraft Technologies

As the world embraces AI, Qraft Technologies is one startup spearheading its rollout in the finance sector.

Founded in South Korea in 2016, the company provides advanced tools for financial institutions to improve performance. This plays out in two key strands of business: AI-generated investment signals and large language models that optimise work environments.

When the time came for global expansion, Hong Kong was chosen for Qraft Technologies’ next Asia outpost. From this base, Francis Geeseok OH (pictured), the company’s COO and APAC CEO, oversees a multidisciplinary team that drives connections with Asia and beyond. “Hong Kong has been recognised as a financial hub for many decades,” says Geeseok OH. “The benefit is being able to communicate with global and regional heads of the big institutions, investment banks and asset managers.”

Qraft Technologies’s goal in Hong Kong is an acceleration of global business expansion, something that Geeseok OH says is aided by the city’s unique East-meets-West history. This presence also underscores the city’s readiness to take the lead on AI across sectors. For companies like Qraft Technologies, Hong Kong is not just a base but a launchpad for shaping the future of finance.

The Art Of Diplomacy
Bonhams

For Bonhams, Hong Kong represents more than just a desirable address – it’s a natural home for the auction house’s new Asia headquarters.

The city’s mix of cultural vibrancy, financial prowess and strategic connectivity has made it an essential thread in the fabric of the global art market. Nestled within Six Pacific Place, a new towering development in Wan Chai, Bonhams’ state-of-the-art hub is a testament to its commitment to the region. The three-storey facility opened in 2024 and includes an expansive gallery, a saleroom and flexible office spaces to rival the auction house’s established offices in London, Paris and New York.

“Hong Kong has a very strategic value proposition for art industry players,” says Julia Hu (pictured), managing director of Bonhams Asia. “It is a tax-free trade zone, has a lot of HNWIs, and the logistical facilities are very mature. Lastly, Hong Kong is close to all of Asia.” 

With its new headquarters, Bonhams’ Hong Kong sales reached HK$670m (€83.5m) in 2024, a year-on-year increase of 18 per cent. Another key factor in this rise is a new type of collector. Since 2019, 35 per cent of Bonhams’ Hong Kong sales have come from millennial and Gen Z buyers. “There’s a young generation poised to usher in a new era for the auction industry,” says Hu.