Private investment banking overshadows asset management

The emergence of private investment banking in Asia is a reflection of where clients are in the economic cycle, but asset management will grow in importance as the intergenerational transfer of wealth takes place. That is the view of Francesco de Ferrari, Asia-Pacific head of private banking for Credit Suisse, who is faced with tripling the size of the business in a testing climate and a competitive landscape. The firm’s private banking franchise has about $814 billion in assets…