Keystone Global Financial Group is a Cayman Islands holding company whose operations run entirely through its Hong Kong subsidiary, Keystone Capital, a boutique external asset manager (EAM) licensed by the Hong Kong Securities and Futures Commission. Keystone Capital manages discretionary accounts for high-net-worth individuals, family offices, and institutional investors, making investment decisions on behalf of clients across HK and US equities, fixed income, structured products, and private equity, without seeking client approval for each transaction. Client assets are held in custody at third-party banks, not by Keystone Capital itself. As of June 2025, Keystone Capital managed approximately HK$3.2B (~US$410M) in AUM across roughly 73 clients. Rather than charging clients directly, Keystone Capital earns retrocession fees — a share (typically 25–65%) of fee income that custodian banks and brokers earn from Keystone Capital's clients. Revenue splits between retrocession on investment transactions, retrocession on AUM held in custody, and commission income from client referrals to third-party brokers. Account executives, who source client relationships and drive transaction activity, are paid 60–70% of the revenue they generate, creating a highly variable cost structure. Clients are primarily Hong Kong-based (~68%), with roughly 22% from Mainland China. Keystone Capital's growth strategy focuses on hiring additional account executives, building out a fund management business through its recently launched Keystone Multi Strategy OFC, and investing in technology and marketing following its Nasdaq listing.