[actionfromafar]

Gosh, they have statistics! By a man. A man from Goldman!

"I was quoted by a man from Goldman's in the mansion house, that in Hong Kong it cost them $70 to onboard a client. In the UK, it now costs them $10,000 to onboard a client just because of the regulation."

Well I'll be darned!

[andy_ppp]

It’s probably because of bureaucracy at Goldman - know your customer checks are pretty cheap and there’s APIs that can do it.

[blitzar]

"Locals" in HK that do the roles like KYC grunt work make a fraction of their equivalent in London (or their expat boss in HK).