The firm is repositioning its alts offering in response to demand. Global head of investment funds, Rene Buehlmann, says asset managers can do better in talking up globally diversified product.
Tag : private banking
The tiny island’s banking crisis will inevitably drive high-net-worth money to the exits, with Singapore in particular among those well placed to fill the gap, writes Scorpio Partnership.
The private bank has named David Lam to lead its teams in Hong Kong, Greater China and the Philippines. He succeeds Ignatius Chong, who will focus on his role as HK market head.
DBS head of wealth management Tan Su Shan has been promoted to head consumer banking as Tan Kong Khoon is leaving.
Structural change at Pictet and Lombard Odier to corporate partnerships underlines a new reality for Swiss banks. And about time too, says Scorpio Partnership.
The bank is working to find cost efficiencies as it finalises an integration plan for its merged private banking and AM business. Product selection and IT are two potential areas of focus.
Asia wealth management head Claude Haberer plans to build a dedicated team covering mainland China, but says rivalry for hub status between HK and Singapore has lessened.
Desmond Liu has joined the firm in Hong Kong to build its business in Greater China and Korea. It comes a few months after he quit rival HSBC Private Bank.
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Banque Syz is relocating staff to Asia to focus on asset owners and is looking for fixed income and equity talent. It is also exploring whether to register products for retail sale in the region.
The boutique bank states it is committed to growing its wealth management offering in the region. It comes after a number of exits and reports of a strategic change of direction.
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.
