Chief executive John Huang is focusing on wealthy entrepreneurs as the Taiwanese firm bulks out its private bank division.
Tag : wealth management
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.
The bank has gone back to basics in client interaction. It wants to work with managers with broad capabilities to build sustainable relationships that can ride market cycles.
Doom and gloom does not seem to apply to Citi’s $200 billion wealth management business in Asia. It is one of the few distributors in Asia not to have cut back on its list of manufacturers.
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.
A ruling by Hong Kong’s SFC against the wealth-management arm of Société Générale is the first penalty against a private bank for internal lapses.
Indians, Indonesians, Malaysians and Thais seem more content about their life-wealth balance than Hong Kongers, Singaporeans and South Koreans.
They express optimism over the move to ease regulation in a drive for Hong Kong to eclipse Singapore as Asia’s premier private banking hub.
Two wealth management recruiters have left for pastures new, as search executives point to the difficulties presented by regulation.
