The onset of the Common Reporting Standard (CRS) regime poses a number of challenges for private banks that have traditionally plied their trade with a high degree of discretion. While ‘early adopter’ jurisdictions will conduct their first exchanges of information in late-2017, Hong Kong and Singapore will likely conduct theirs in 2018. But are Asia’s private banks and their relationship managers (RMs) adequately prepared for the advent of full disclosure? What operational challenges does CRS pose and what do RMs need to do to ensure that they are meeting clients’ needs when the regime comes into force?

Moderator:
Sebastian Enberg, Editor, Asian Private Banker

Conversation Catalysts:
Anthony Fay, Counsel – Tax, Clifford Chance
David Sussman, Managing Director, EFG Wealth Solutions
Joanna Ho, Managing Director, Head of Wealth Planning North Asia, Private Wealth Solutions, HSBC Private Bank

The HNW insurance market is dominated by universal life (UL) insurance and recent data shows that this trend will not be bucked any time soon. Although UL has played, and will continue to play, a pivotal industry role, certain segments of the HNW population have yearned for other solutions; it has become clear that there are product gaps that need filling. Chubb Life delves into the world of Perpetual Life and explores its application to the affluent.

Workshop Hosts:
Brandon Szeto, Deputy General Manager & Vice President, APAC Wealth Management, Chubb Life
Ben Ng, Chief Marketing Officer and Committee Member, Chubb Life HK

Although it’s well known that wealthy Mainland consumers are the growth engine of HNW insurance business in recent years, the background of these insurance buyers is more obscure. What drives their interest for insurance solutions? What is the psychology behind their purchasing behaviours? BOC Group Life Assurance shares its insights on the Chinese demand for HNW insurance solutions.

Workshop Hosts:
Alfred Cheung Chi Kau, Chief Sales Officer & Deputy Chief Executive, BOC Group Life Assurance Company Ltd
Ady Law, Head of Corporate Distribution Department, BOC Group Life Assurance Company Ltd

Over the next decade, upwards of US$1 trillion of Asia’s wealth will be passed on to the next generation. Factor in challenging market conditions – what many are referring to as the ‘new normal’ – and it is clear that wealth management planning teams are more crucial than ever to private banks that harbour long-term ambitions in the region. Insurance solutions will be key to addressing clients’ growing needs for protection and succession planning, as well as to private banks whose revenue streams have all but dried up.

Moderator:
Sebastian Enberg, Editor, Asian Private Banker

Conversation Catalysts:
Alexander Tan, Executive Director, Wealth Planning Life Insurance & Financial Planning, APAC, UBS Wealth Management
Brandon Szeto, Head of Market Development, Wealth Management, Asia Pacific, Chubb Life Hong Kong
Jim Man, Director, Insurance Product Management, APAC, Credit Suisse