The Hong Kong Securities Institute is taking on three wealth management professionals for its new certified scholarship, an initiative launched with the aim of bolstering the industry's talent pool.

The HKSI has offered the Certified International Wealth Manager programme, launched in 2011, to Wong Yeung Fong Fonia at SHK Private, Ho Pui San from Merrill Lynch (Asia Pacific), and one other woman, who refused to be identified.

The three scholarships, each worth HK$42,000 ($5,409) are jointly run by the HKSI and its programme partners, the Association of International Wealth Management and the Swiss Training Centre for Investment Professionals.

“We have offered the opportunity for the young professionals. We hope they can learn more about the tools, techniques, and knowledge in PWM through this programme and contribute to the industry in the foreseeable future," said S F Wong, HKSI chief executive.

Hong Kong is China’s primary international asset management and wealth management hub. While the size of the private wealth management sector is growing fast, the shortage of talent is often blamed for the rocketing cost to income ratios, of firms are forced to pay over the odds for top bankers to grow their foothold.

There is an estimated shortfall of as many as 2,500 relationship managers for the mid-term goals that banks have set themselves. As a result, more and more firms are looking to 'grow-their-own' talent through in-house training schemes.