Urs Brutsch of Hoffmann & Partners Wealth Management reviews the evolution of Asia’s private banking industry, and explains the value of independent asset managers within a new financial landscape.

Below is a snapshot of some of the key local and international regulatory and compliance developments in May 2012 relevant to the Asian wealth management industry.

Ong Puay See, chief executive officer of The Institute of Banking and Finance (IBF) in Singapore, talks to Hubbis about the approach it is taking to raise competency standards for private bankers, as well as how it is evolving this to keep pace with the needs of the industry and clients alike.

Although there is a common perception that offshore banking is a route for clients to hide “undeclared” funds, this is not how offshore banking in Singapore has been developed or will be promoted, according to Francis Koh, professor of the Finance Practice, and director, MSc in Wealth Management, at Singapore Management University.

Peter England of CIMB looks at the various features, opportunities and challenges in Malaysia’s wealth management market – today and for the future.

Filling the talent gap in Asia is clearly a priority for senior management in the wealth management space. Yet what type of relationship manager or client adviser does each firm want? And how can it find or develop such individuals as quickly as it needs to?

Kathryn Shih, chief executive officer for Asia Pacific, and group managing director, at UBS Wealth Management, talks exclusively to Hubbis about key issues for the industry in the region right now – including emerging opportunities for growth, how international private banks can stay relevant and profitable in today’s environment, and how UBS is positioning itself accordingly.

Maikel Sajangbati of the Certified Wealth Managers’ Association in Indonesia talks about the local wealth management market, and how to capture the opportunities as it grows and develops further.

Kees Stoute, a 19-year veteran of the Asian private banking industry, and until recently managing director of EFG in Singapore, is the inaugural winner of the Hubbis Recognition of Excellence in Asian Wealth Management Award.

As Singapore undergoes its current Financial Advisory Industry Review (FAIR), advisers in the local community are fearful of the impact this might have on distribution costs – or even commissions altogether – as well as the potential changes to the current three-tiered agency structure.

Marco Bardelli of BDG Singapore Private explains what structure and style of advisory services are needed to successfully service ultra high net worth individuals (UHNWIs).

Controlling client advisers is a greater source of debate and concern than ever before as private banks continue to struggle with the complex and uncertain regulatory and compliance landscape which is the new reality in Asian wealth management.

One of the most notable obstacles to capitalising on the growing need for wealth planning for Asia’s ever-wealthier and increasingly international families continues to be education – at both the adviser level as well as for high net worth (HNW) clients.

At a roundtable discussion in Singapore in mid-December, co-hosted by Hubbis and J.P Morgan, many of the leading local EAM practitioners, including key representatives of the recently-launched Association of Independent Asset Managers, discussed and debated the various opportunities and challenges in this space.

There is no one answer to what the right approach or business model is to private banking and wealth management in Asia. But a clear and consistent strategy is a critical success factor.

Stefano Fiala of Veco Invest explains the steps involved in choosing Hong Kong to set up a business to take advantage of opportunities for external asset managers (EAMs) in Asia.

Fabian DePrey of RBC Capital Markets explains some of the current trends in structured products in Asia, including what private banks now expect from product manufacturers, and how to ensure suitability.

In line with the many regulatory, tax and general transparency-driven developments globally, there is a growing focus within Asia’s advisory community on how to make the best use of trust structures as part of the various wealth planning options available to high net worth (HNW) clients.

Stephen Chang of JP Morgan Asset Management looks at some of the features of the emerging RMB bond market, and explains the various risks and considerations for investors.

Robert Cormie of CIBC Private Wealth Management Asia explains the step-by-step process that relationship managers should follow to target and win new clients, and how advisers can overcome concerns about prospecting.

Peter Flavel, chief executive officer of J.P. Morgan Private Wealth Management in Asia, the high net worth business (US$10 million to US$30 million) of J.P. Morgan Private Bank, tells Hubbis why the firm’s team-based model is the future for advice in this industry in the region.

Indian high net worth individuals and ultra high net worth individuals seem to be shying away from investing in anything they deem too risky and don’t understand.

At a roundtable discussion in Hong Kong in March 2012, co-hosted by Hubbis and J.P. Morgan, some of the leading EAM / IAM companies in Hong Kong came together to discuss and debate the various opportunities and challenges they face as part of this evolving segment of the local wealth management landscape.

Mykolas Rambus of Wealth-X explains how private banks can identify, segment and acquire clients in the ultra high net worth space.

Duncan Goodwin of Martin Currie Investment Management explains a typical day in the life of a fund manager for a global resources fund, as well as what it takes to be successful in this role.

Binay Chandgothia of Principal Global Investors explains the processes, roles and responsibilities of fund managers, and discusses their objectives and challenges in trying to put in place effective investment strategies.

Against the backdrop of its universal banking model, Deutsche Bank’s private wealth business has made taking advantage of the pace and extent of wealth creation in Asia a clear priority.

法兴私人银行的李晓芸给想成为私人银行家的个人提供了建议。她介绍了私人银行家需具备的能力以及怎样为高资产客户服务。她还分享了自己作为私人银行家的经验和体会。

Hubbis' inaugural China Wealth Management Forum in November 2011 sought to foster open dialogue and debate on strategic and operational issues facing the development and growth of the industry.