The co-CEO calls its asset and wealth management business potentially its most important division. It comes after the bank failed in the partial sale of its AM unit last year.
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Tag : wealth management
Chief executive John Huang is focusing on wealthy entrepreneurs as the Taiwanese firm bulks out its private bank division.
Cazenove Capital Management hopes to extend its investment and advisory franchise to Hong Kong.
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 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.
Given regional fragmentation and toppy prices, wealth managers have grown cautious over Asia M&A. That will see valuations settle and lead to tailored consolidation, finds Scorpio Partnership.
Neil Harvey will focus on institutional and ultra-rich clients in Asia as well as retain his group co-CEO role for Greater China.
