Legacy Trust wins STEP Rising Star, boosts HK hub

Legacy Trust has gained international recognition in the private client sector after Chief Operating Officer Grace Liu won the Rising Star Award (non-legal category) at the 2025 STEP Private Client Awards.

The award places the Hong Kong-headquartered trust company among a group of firms highlighted by STEP for service, governance and innovation in global fiduciary work. It also underscores Hong Kong's role in the fast-growing Asian market for cross-border wealth structuring.

STEP, the global association for practitioners in family inheritance and succession planning, organises the awards, which it positions as a benchmark event for the private client and fiduciary industry. The Rising Star categories recognise emerging leaders across legal and non-legal disciplines.

Liu's win comes amid a large intergenerational transfer of wealth across Asia. Families in the region have expanded their use of trust structures and family offices, and demand more digital access and transparency from service providers.

Technology focus

Legacy Trust has spent the past decade overhauling its operating model, focusing on digital tools and process redesign. The firm has emphasised technology in trust administration, governance frameworks and client reporting.

It has rolled out a proprietary platform called Smart TrustsConnect System. The system is a digital interface that gives clients real-time oversight of their structures. It includes secure transaction functions for families and their advisers.

Legacy Trust said the platform has reduced administrative turnaround times by up to 40%. It said the system operates in compliance with and adheres to privacy standards that match those used by institutional financial firms.

The firm has also invested in strengthening internal processes and controls. It has highlighted transparency in operations and reporting as a core plank of its strategy, in response to demands from younger wealth owners in Asia.

Hong Kong role

Hong Kong has positioned itself as a regional hub for family offices and private wealth management. The jurisdiction has updated rules for trusts and related structures and has promoted its regulatory and legal environment to global families.

Legacy Trust said its international recognition aligns with this policy direction. The firm pointed to Hong Kong's status as a global financial centre and as a base for cross-border Asian wealth flows.

Vincent Chok, Director of Legacy Trust, linked the award to broader shifts in client expectations across the region.

"This recognition reflects Legacy Trust's ongoing commitment to raising the bar for Hong Kong's trust industry. As wealth transitions accelerate across Asia, clients expect stronger governance, faster access, and more transparent service. Our focus on digital infrastructure, professional excellence and ethical standards places us in a strong position to support families through this evolving landscape."

Clients in the ultra-high-net-worth segment now ask for 24/7 visibility over their structures and assets. They also query the resilience of structures under different regulatory, geopolitical and market scenarios. Trust firms have responded with new reporting tools and closer integration between trustees, investment managers and family offices.

Leadership recognition

Liu's award recognises her role in overseeing operations at the trust company during this period of change. It also reflects the growing visibility of operations and technology leaders in the private client industry, which has traditionally focused external attention on lawyers and relationship managers.

Legacy Trust said the award validates its efforts in combining technology with fiduciary practice across different asset classes and family structures. It said this combination now sits at the core of its business model in Hong Kong and internationally.

Liu said the accolade highlights the contribution of the wider team at the firm. "The award represents the strength of the entire Legacy Trust team and the firm's mission to blend advanced technology with rigorous fiduciary principles. Hong Kong remains an essential international centre for trust and private wealth services, and we are proud to contribute to its leadership role."