The 21st century will belong to the US, not China, but the two countries need to put aside their differences, says the Hong Kong property firm's Ronnie Chan.
Tag : julius baer
The Asean Economic Community will benefit the region, provided countries stop looking over their shoulders and continue to talk, say delegates at a Julius Baer conference in Bali.
Far from worrying about India and Indonesia, famed economist Paul Krugman says it's China that keeps him up at night and sees cause for alarm in Korea's rising household debt.
The cost of UK and US education surged 30% year-on-year in 2013, a major concern for Asians, although not a deterrent from sending their children overseas, according to Julius Baer's wealth report.
The Swiss private bank predicts Asia’s wealthy population could grow to three million with combined $16.7 trillion by 2015, and denies this flies in the face of macroeconomic reality.
Its private banking arm has hired Jacqueline Koo from Julius Baer as head of discretionary portfolio management in Asia. She will build a team to meet growing demand, the bank says.
The firm questions whether acquisitions are counterproductive to the private banking industry. It comes after Julius Baer’s recent move, with a wave of consolidation forecast.
The new reality for wealth managers will be characterised by lower margins, increased costs and client caution. Firms must focus either on global reach or adopt a specialised approach.
The private bank partners with Bank of China to mutually cross-refer clients as a first step in developing a deeper business proposition in the country.
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He says private banks will win the race for Asia's wealth and explains how he intends to go about it. He talks about his time at Goldman, and what asset managers must do.
The bank picks up eight headed by Elina So after failing to acquire a majority shareholding in its rival. Sarasin defends its position after reasserting its China strategy earlier this week.
Asia chief Thomas Meier scotches rumours he will hand over to Kaven Leung anytime soon and confirms Julius Baer is still keen on acquisitions, despite losing out on Sarasin. The private bank is set to announce the official opening of its Shanghai rep office today.
