Q1: How did the business perform in 2025, and what drove its growth over the past year? How has the cost-income ratio trended this year, and what were the key factors influencing it? Looking ahead, what are your main priorities and strategic plans for 2026?

2025 was a breakthrough year for Indosuez Wealth Management. We maintained strong momentum, positioning the business for long-term success despite a complex market environment. 

Assets under management recorded a robust 23% double-digit growth as of the time of writing. This was driven by a few powerful drivers: sustained client engagement, significant new relationships onboarded, selective talent recruitment, and deeper collaboration across the Crédit Agricole Group, particularly with Amundi, CACIB, and DPAM. This has been an acceleration, built on a disciplined and focused organisation that leverages our people and the collective strengths of the group.

Our competitive edge lies in combining global scale with a personalised approach. Maintaining a healthy cost-income ratio is a key priority. We continue to manage a lean and agile organisation, balancing prudent cost management with targeted investments in talent and technology. Our ratio held steady, reflecting sound financial discipline and operational efficiency.

Looking ahead to 2026, our focus is to build on this momentum, focusing on growth in key markets including our home markets of Singapore and Hong Kong as well as Taiwan, Mainland China and South East Asia, strengthening our private markets and discretionary portfolio management capabilities, and accelerating digital transformation to enhance both efficiency and the client experience. 

Our goal remains clear: to deliver sustainable growth and a truly future-ready wealth management platform for our clients.

Q2: Looking at the investment outlook for 2026, which markets and asset classes are you prioritising for client portfolios to capture opportunities while managing risks? How are clients currently allocating their portfolios, and what trends are you seeing in DPM adoption and investment behaviour?

As we look ahead to 2026, selectivity and discipline will be key in navigating a more nuanced investment environment.

We remain constructive on high-quality fixed income, selective equities, and private markets that provide diversification and long-term value to enhance clients’ portfolios. We continue to focus on diversification, liquidity, and stable income generation amid an evolving macro backdrop.

Additionally, we are seeing strong momentum in discretionary portfolio management, with around 80% of portfolios now fully customised to client objectives. 

All these reflect our continued emphasis on tailor-made solutions, from advisory to discretionary mandates, ensuring that every portfolio is aligned with each client’s long-term goals. Interest in alternatives and sustainable investments also continues to grow, supported by the depth and expertise of the Crédit Agricole ecosystem. Our focus remains on guiding clients through volatility and helping them build resilient portfolios that perform across market cycles.

Q3: With regulatory scrutiny and compliance requirements intensifying across the wealth industry, what updates can you share on how your firm is strengthening governance and compliance frameworks? How are you proactively managing risks while ensuring a seamless experience for clients?

The bank’s compliance culture has been significantly enhanced through continuous, strong support from senior management in prioritising this critical area. A close working relationship between compliance and front office teams has fostered clear accountability and ensured alignment of processes with the latest regulatory requirements. This is also reviewed on an ongoing basis. 

Additionally, regular and engaging training sessions have equipped colleagues with a thorough understanding of current regulations and industry best practices. 

By adopting a risk-based approach, the bank ensures practical and seamless controls for clients without compromising on regulatory requirements, for instance, in the corroboration of source of wealth. Additionally, the bank is actively exploring artificial intelligence and other regtech tools to automate manual processes such as transaction monitoring, delivering a more efficient and streamlined experience for clients.

Q4: The private banking industry saw a plethora of leadership and structural changes in 2025. Looking into 2026, what are your key priorities for attracting and retaining talent across the front, middle, and back office? Are there plans for new hires in key markets?

Our people remain our greatest strength. In 2025, we bolstered our North Asia leadership with strategic senior hires like Phonda Chan, deputy chief executive in Hong Kong, and Chua See Piu, head of North Asia market in Singapore, embodying our commitment to selective, culture-aligned recruitment rather than a mere team expansion. 

We’ve also recently announced other senior hires across the bank for both front office, including investment and advisory teams, as well as support functions, and look to continue to attract seasoned professionals who share our long-term vision and client-first values.

Looking ahead to 2026, our focus will be on developing and retaining talent through leadership mobility, well-defined career paths, and cross-market collaboration. As a boutique firm backed by one of the world’s largest financial groups, we believe we offer a rare combination of agility, empowerment, and stability — qualities that resonate strongly with the next generation of private bankers eager to grow within a franchise that is still accelerating.