Private bank heads question ethics of Asia's talent war

One of the key topics to emerge at the recent CFA Private Wealth Management conference in Singapore was the unsustainable cost-to-income ratio of private banks, particularly in Asia. This ratio is careering upwards again for many firms largely because of the ever-swelling ranks – and compensation – of relationship managers in the region. Attending the conference, both Douglas Wurth, Hong Kong-based chief executive of JP Morgan Private Bank's non-US business, and Carlo Grigioni, Singap…