30 June 2017 |

Top Eight for Week 23-29 June 2017

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INDUSTRY | PEOPLE | STRAIGHT TALK | EXCLUSIVE   23 June 2017
LGT’s Henri Leimer: “I was in favour of the acquisition”
LGT managed to tick off a lot of boxes in just five months, including the speedy acquisition and data migration of ABN AMRO’s private banking businesses in Hong Kong, Singapore, and the Middle East, and the rollout of a client-facing app. In an exclusive interview with Asian Private Banker, Asia CEO Henri Leimer discusses the lead-up to the ABN AMRO deal, organisational restructuring, AUM targets and digital innovation.

INDUSTRY | PEOPLE | EXCLUSIVE   26 June 2017
UBS’ Joe Stadler: “We’ve outperformed”
“We made three major investments in wealth management,” says Joe Stadler, UBS Wealth Management’s Zurich-based head of Global UHNW, speaking with Asian Private Banker. “We created the CIO office; we went long in Asia; and we went long in ultra high. All three paid off.”

TRUSTS | WEALTH PLANNING | EXCLUSIVE   27 June 2017
HNWIs with less than US$5m are being priced out of the trusts market, says BoS’ wealth planning head
Tighter regulations are resulting in a bifurcation of the high net worth trusts market, wherein wealthier clients have a growing need for trust structures while less affluent clients are being priced out of this market due to higher structuring costs, according to Woon Shiu Lee, MD and head of wealth planning at Bank of Singapore.

INDUSTRY | EXCLUSIVE   28 June 2017
Citi’s Paul Hodes on how Citigold Private Client is taking notes from the private bank
From its technology capabilities to its ‘next-gen’ programmes, Citi’s high net worth (HNW) business mirrors the American lender’s private bank in a number of ways, Paul Hodes, Citi’s wealth management head for Asia, tells Asian Private Banker in an exclusive interview.

REGULATIONS | EXCLUSIVE  29 June 2017
No local bank wants to be the first “to publicly tackle culture issues”, says HK-based lawyer
While financial institutions in Hong Kong – including private banks – need to have appropriate ‘bank culture’ frameworks in place within the next eight months, local players have been hesitant to lead their peers on this issue, says Veronique Marquis, partner at law firm Eversheds.

ALTERNATIVES | EXCLUSIVE  27 June 2017
IAMs’ allocations to alternatives are double those of PBs in Hong Kong
Proof that private equity continues to be all the rage in Asia, independent asset managers (IAMs) in Hong Kong allocate nearly a third (32%) of their client assets to alternatives – more than double the level recommended by private banks, according to a survey by APB Mandate.

ALTERNATIVES | EXCLUSIVE  23 June 2017
Two-thirds of private banks in Asia are implementing or considering smart beta in their DPM portfolios
Amid an industry-wide focus on low-cost solutions, two-thirds of private banks in Asia say they will either add or consider adding smart beta products to their clients’ discretionary portfolios in the next 12 months, according to a recent APB Mandate survey.

DPM | EXCLUSIVE  29 June 2017
“More than half” of CITIC’s PB branches in China launched DPM services over past three months
More than half of China CITIC Bank’s private banking branches in China have started offering their clients discretionary portfolio management (DPM) services, which the private bank launched three months ago.