Awards for Distinction 2014 – Trust & Advisory Services


AFD2014_Best Private Bank - Trust & Advisory Services

Pictet

Claude Haberer

Claude Haberer
Asia-Pacific CEO
Pictet Wealth Management

Mark Jackman

Mark Jackman
Head of Business Development, Asia
Rhone

With an estimated US$41 trillion expected to be passed down from the current generation to the next, many high net worth and ultra-high net worth families are urgently seeking ways to strategise the transition. Trust services have an increasingly integral role to play and are becoming an important mark of distinction for private banks in Asia over the next decade.

Pictet, through its partnership with Rhone, outshines its competitors, providing wealth planning solutions with a best-in-class trust service offering in Asia. Rhone’s greatest attraction for clients is its independent ownership. Noting a discernible gap in the industry in Asia for a business that focusses on trusts autonomous from a private bank, Rhone offers financial and legal services independent of Pictet and any other external stakeholders. While clients are given full access to the range of private banking, asset management, custody, and family office services of Pictet, they can trust that the 75 professionals at Rhone have no conflict of interest, as there is no obligation to utilise that offering.

Rhone has a presence in the Bahamas, Singapore, Switzerland, Canada and in 2014, Rhone Trustees Hong Kong was established to offer clients the option of trusts under Hong Kong’s recently reformed trust laws. Rhone’s geographical reach and ambition in the region is underscored by the hire of Mark Jackman as the new Head of Business Development, Asia, based in Singapore earlier this year. Rhone’s extensive coverage in succession planning is complemented by the range of comprehensive services it is able to offer clients, including those of a complex and unusual nature within assets such as commercial and private real estate holdings, yachts, aircraft, and art. While competitors have been known to outsource these services to legal and tax professionals, Rhone takes pride in giving Asian families tailored solutions while opting to maintain a high degree of control over their assets.

A key differentiating factor for Rhone is not just its ability to advise clients from an independent standpoint, but also on the importance it places on systematically reviewing whether their trust structures meet their changing needs, through assessments and regular client visits. It is this consistent commitment, independence, and integrity that makes Rhone the worthy winner of the Best Private Bank – Trust & Advisory Services award, for the second year in a row.