RBS builds on expansion plans in India
The Royal Bank of Scotland Group (RBS) has appointed Leena Gidwani as market head, western region, for its private banking business in India.
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The Royal Bank of Scotland Group (RBS) has appointed Leena Gidwani as market head, western region, for its private banking business in India.
A new report on the number of wealthy individuals in mainland China shows a rise of nearly 10% from 2010 to 960,000 individuals with personal wealth of at least RMB 10 million.
Arjan de Boer has been appointed as head of private banking for ABN AMRO in Hong Kong.
Societe Generale Private Banking has poached Benedikt Maissen from Barclays Wealth to drive the French bank’s growth strategy in south-east Asia.
Citigroup has named Michael Zink as its new country head in Singapore, in charge of the US bank’s institutional clients group, consumer banking and global cards, plus its global wealth management businesses.
Morgan Stanley has lost one of its most senior wealth management executives in Asia for the allure of spearheading DBS Bank’s regional growth ambitions in private banking.
Credit Suisse has hired Aditya Mishra to run its Delhi office, in a bid to bolster the bank’s wealth management business in India.
With different private banks announcing dramatic hiring plans and overall growth ambitions for Asia on a weekly basis, the industry is in danger of repeating its earlier mistakes.
Barclays Wealth is expanding its focus on Greater China by hiring a senior and experienced private banker from UBS.
Three senior private bankers have joined Standard Chartered Private Bank to strengthen its North-east Asian business.
UBS is re-strengthening its investment advisory team in South Asia by hiring a senior banker from Deutsche Bank Private Wealth Management.
Citibank has launched a new, tailored offering for high net worth individuals (HNWIs) in Asia, in a bid to capture a greater share of this growing client base.
A quick count of the number of private bankers which various chief executive officers have publicly stated over recent months they plan to hire this year alone exceeds 1,000. But surely it is in everyone’s interests to make sure that growth ambitions are realistic and sustainable.
Despite maintaining a cautious approach to investment strategy, wealth managers across Asia have pinpointed growth as the most important product feature this year, according to an industry survey.
Public offers of structured products in Hong Kong will be governed under a different set of rules going forward, as part of proposals to enhance regulation.
The biggest challenge Asian wealth managers now face is finding a way to differentiate themselves from their competitors, according to an industry survey.
HSBC is the latest financial institution to announce aggressive growth plans in its Asian wealth management business.
To be successful salespeople in Asian private banking and wealth management, relationship managers (RMs) must take some clear steps and implement specific techniques to be effective and productive – both for their organisations as well as their clients.
ABN AMRO Private Banking is looking to achieve around 15% to 20% asset growth in Asia in 2010, according to reports in Reuters.
Citi Private Bank has hired a new managing director to run its China team, according to reports in Asiamoney.com.
Barclays Wealth is showing its ambition to grow its investment product capabilities in Asia by hiring industry veteran Bryan Henning to run its regional business.
Morgan Stanley Smith Barney has appointed Chris Van Aeken as head of international wealth management products and services.
Shayne Nelson has been appointed as the new global head of The Standard Chartered Private Bank – being promoted from his position as regional chief executive for the bank’s businesses in the Middle East and North Africa.
The dramatic losses suffered in client portfolios during the financial crisis showed beyond doubt that most wealthy Asian clients do not follow a traditional or diversified asset allocation strategy. Yet at the same time it creates significant revenue opportunities for relationship managers (RMs) and investment advisers.
Mercer is strengthening its focus on wealth management across Asia Pacific by relocating its regional head to Singapore and hiring a new consultant.
Deutsche Bank Private Wealth Management has announced two new hires to its North Asian business as it looks to strengthen its succession planning capabilities.
LGT Investment Management is in the process of recruiting a new head of advisory services for its Asian business after Benjamin Pedley left the firm.
EFG Bank has entered into an agreement with Commerzbank to recruit a team of its private bankers and their clients in Singapore.
DBS Group has said it wants to add hundreds of people to its wealth management business, according to a Reuters article.
