60-second interview with Michael Olesnicky
What is the most important thing STEP does, in your opinion?
STEP is the most prominent organisation in Asia dealing with qualifications for people in the trust and wealth management industry. The sizes of the Hong Kong and Singapore branches attest to this, as well as the enthusiasm for the opening of a new branch in mainland China to deal with the transition of wealth there. STEP’s role in providing a globally accepted accreditation system for people working in the industry is fundamentally important.
Your branch has run some online events recently. How did they go, and do you have any recommendations to share?
The pandemic has made us focus on delivering our local development activities by webinar. We’ve found the transition from face-to-face seminars has been surprisingly easy, and are pleased to offer our webinars to STEP members globally, not just in Hong Kong.
One issue is whether we will continue webinars in the longer-term, or whether our members will prefer to go back to face-to-face meetings. But of course, the STEP Asia Conference is different – this will revert to live meetings as soon as the pandemic is over.
Do you have any upcoming events to look out for?
We try to hold three or four webinars each month, and these are listed on the STEP website. Because the STEP Asia Conference was cancelled this year, we will be rolling out a series of webinars in lieu in November.
What other initiatives has the Hong Kong branch taken?
We issue a six-monthly newsletter to our members updating them on recent branch developments and including around a dozen articles written by our members dealing with topical developments.
For the last few years we’ve operated a work experience programme for law students, offering internships with a law firm’s private client department, to give them a flavour of the type of work involved. The response has been favourable - most students say they want to enter the industry after graduation, and complain that the two-week internship is too short!
What does your firm or employer do?
Baker McKenzie is a law firm. We have a wealth management capability in almost all of the 47 countries in which the firm operates, and all our practitioners in that area know each other personally. This makes it easier for us to provide cross-border advice to clients.
What has STEP done for you, individually, or as an organisation?
Being chair of the Hong Kong branch has given me a purpose. I enjoy being involved in the wealth management industry, and helping to contribute to its development.
What made you decide to volunteer at STEP?
It was a logical extension of the type of work I do in practice. In this industry, STEP permeates everything, so it’s easy to get sucked into it!
What would you say to other members considering volunteering?
Just do it. You’ll find it very satisfying and the networking opportunities globally are wonderful. But please be prepared to contribute to the organisation. If you’re not prepared to do that, it won’t be as satisfying.
Do you have any upcoming events to look out for?
We have two later this month, and watch out for our webinar series in November - the topics and speakers are great!
- Webinar on practical considerations on managing wealth and assets of vulnerable clients, 10 Sep.
- Webinar on the China Civil Code, 15 Sep.
Michael Olesnicky TEP is Of Counsel at Baker McKenzie, Hong Kong. He is chair of the STEP Hong Kong Branch.
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