Tag : private banks

Scale and stability are increasingly important for wealth managers in Asia – as is reflected by the recent exit of several relatively new players in the region.

Stephen Grundlingh, the firm’s head of Southeast Asia, highlights several trends among private banks in the region.

Market forces have converged to drive mutual fund sales, while the need for a solutions-driven approach may see Aberdeen seek to work with distributors on a segregated basis.

Multi-family offices question the independence of private banks, but say they are losing the battle for mindshare because they don't have the same sort of marketing budget.

Senior distributors recognise the need to drive fund penetration in Asia. The big question is how they can work together more efficiently to make the industry more appealing.

Private banks in Asia are even more inclined to pick easy-to-onboard and well-known products these days, and that may not be a good thing, say market players.

Two wealth management recruiters have left for pastures new, as search executives point to the difficulties presented by regulation.

It continues to rebuild by hiring the ex-head of private bank sales from HSBC to run Asia products and services out of Hong Kong.

They reveal a smarter way to work for asset managers, who are expected to focus more on private banks. But institutional sales hold the key.

The use of private banks by Asian family offices is set to shrink in the next few years, say FO executives, who concede they themselves face significant challenges.

Regional head Andrew Hendry has been busy hiring in Singapore, and the UK fund house this week became incorporated in Hong Kong.

Wealth managers outline their priorities for selecting third-party products, with fund performance just one part of a rigorous process.