High-net-worth individuals in the region will lead the world in population and accumulated wealth as early as next year. They are becoming more digitally focused, too, finds a survey.
Updates to Hong Kong's trust law for the first time in almost 80 years will encourage trust companies to set up shop here. Yet the city must focus on attracting young talent.
DBS Private Bank hires veteran Chan Kwee Him to spearhead the growth of its high-net-worth business in Indonesia, and also names Bryan Goh as head of alternatives.
The ranks of the truly wealthy have swelled, with Asia leading the recovery, according to the Merrill Lynch Global Wealth Management/Capgemini World Wealth Report.
Most high-net-worth Asians have achieved their wealthy status in the past 20 years -- they now face the issue of how to pass on their fortunes, say private bankers.
Merrill Lynch expects the combined assets of the worldÆs high-net-worth individuals to reach $59.1 trillion by 2012, led by those in the Middle East, Latin America, and Africa.