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.
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Mayur Nallamala, who ran $4 billion in Asian assets at JP Morgan Asset Management, has joined Royal Bank of Canada's investment arm as head of Asian equities.
In light of an improved economic outlook and rising salaries, companies in the region are looking anew at the benefits of launching retirement schemes.
Growth in the number and wealth of high-net-worth individuals in Asia will outstrip North America within three years, although it will be a tight race, finds a benchmark survey.
SSgA loses South Asia MD, Axa hires fixed income head, RBC WM adds in Indonesia, Pimco names Japan PM, Credit Suisse bulks up fixed income, and HK boss joins Northern Trust.
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Compliance officers at financial institutions outline how the cost of complying with a raft of regulatory reforms is dampening innovation and making it difficult to stay competitive.
Asset-servicing firm RBC Dexia says RBC's acquisition of the remaining half of the business will hasten regional expansion and lead to greater cross-selling opportunities.
The bank appoints Andrew Turczyniak from its corporate and investment banking arm in an internal move as it strives to broaden corporate relationships in the region.
The bank lists snatching market share and building corporate relationships in Asia as priorities for 2011. Meanwhile, RBS Coutts names a new head of NRI and South Asia business based in Dubai.
RBC Wealth Management, the private banking arm of Canada's largest bank, has appointed Matthew Yong president and Frank Mu chief executive officer of its Asian operations.
Beware of asset price bubbles and a spike in non-performing loans, says RBC Capital Market's Brian Jackson.