summarise the key points: "I enjoy life starting at the moment that I make my first 200,000, 300

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,000 US a year, I start to be able to eat good food the same way as

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you are, but you’re busier than me.

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Try these conversations and reach the bottom of the heart and these

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topics will come up.

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Succession planning and then family planning.

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Oh, your son is not willing to come back to your company to work, but

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why do you need him or need your daughter to come back to your company

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to work?

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You’re way too selfish to think about it that way.

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Maybe you should ask appropriate questions like that and so that they

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will think about, oh, maybe I need to find professional management or

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even to divest the business.

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And those are the one bank discussions that we should have.

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Please let me know if I overrun.

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Okay.

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I overrun for sure for this topic.

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So family planning, again, as a result, how do they start to think

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about the next five years and ten years and put a structure in place

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and everything like that should be in the discussion.

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And if you can get to this discussion, you take the clients on

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already.

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You take the clients on, he or she will always come back to you and

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say that, okay, how do I think about this and tackle this problem?

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And by the way, HSBC is the only bank who has a platform to help

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clients with all these questions, not other banks.

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UBS does not have a powerful trust.

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We have a very powerful trust.

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We have commercial banking, retail banking.

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Of course, we have a great team of private banking professionals here.

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So that’s what I want to say.

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Now I want to flip through a few quick slides and then I will pass it

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on to the next one.

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I know that Linda is…

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Linda, are you presenting yourself today?

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Okay, that’s great.

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No.

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As I said, there are a lot of questions.

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And this one is very important.

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What really drives strategic asset allocation?

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We have to really spend time to study it.

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Strategic asset allocation is not given.

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Strategic asset allocation should be originated from clients’ needs

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and investment objectives.

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And those four factors on the left is supposed to drive the strategic

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asset allocation.

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And you can take time to…

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I hope you will take time to read through this deck.

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And there are a lot of thoughts being put into trying to help us guide

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our conversations with clients.

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And liquidity risk, liquidity requirement risk, return, and other

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considerations.

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I don’t want to buy tobacco stocks, for example.

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It’s one of the things that people would throw into it, or ESG.

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Now the next thing is…

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And then, as I said, after you have gone through this strategic asset

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allocation and whatnot, it comes to the implementation part.

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Or how do we see the clients’ pockets of wealth?

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Okay.

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You have some lifestyle.

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You need a liquidity portfolio.

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And you need a core investment portfolio for the long-term growth of

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the legacy of the family.

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And you are interested in tech, or interested in taking advantage of

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this interest rate environment and do some trades, then you have to
"