7 July 2017 |

Top Eight for Week 1-7 July 2017

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Greetings,

This week, we released the most comprehensive data set available for India’s onshore wealth management scene.

In the same vein as our annual Asia AUM & RM League Table, we reveal India’s Top 20 wealth managers by assets under management and frontline firepower.

I won’t divulge too much here, except to say that the market continues to grow at a healthy rate, as evidenced by a 33% YoY increase in client assets managed by the Top 20 at the end of 2016.

Also worth noting is the fact that local setups, buoyed by lower operating costs and strong hiring of late, enjoy the ascendancy, dominating the India 2016 AUM League Table both in terms of slots held and assets managed (combined, domestic wealth managers account for almost two-thirds of the almost US$103 billion total).

So who tops the India 2016 AUM & RM Headcount League Tables

  • Kotak Wealth Management leads the pack in terms of AUM with US$15.3 billion (+59.3% YoY)
  • Standard Chartered Private Bank is the top international player with US$7.8 billion (+21.9% YoY)
  • IIFL Wealth & Asset Management has the most RMs with 218 (+9.0% YoY)

Head on over to our Insights page to view the complete data set.

Your Top Eight for the week follows.

Cheers
Sebastian Enberg
Editor

 

INSIGHTS | EXCLUSIVE   5 July 2017
India 2016 AUM & RM Headcount League Tables
India’s wealth management industry grew at a healthy pace in 2016, with the 20 largest private banks and wealth managers in the country growing their client assets by a combined 33% YoY to US$102.6 billion, according to Asian Private Banker’s India AUM and RM Headcount League Tables for 2016.

INDUSTRY | EXCLUSIVE   6 July 2017
Domestic players dominate India’s US$102.6 billion wealth management sector
Domestic firms continue to dominate the private wealth market in India, where the top 20 private banks and wealth managers collectively manage just 12.9% of the country’s high net worth wealth, according to Asian Private Banker’s India 2016 AUM League Table.

REGULATIONS | EXCLUSIVE   3 July 2017
June regulatory round-up: New suitability requirements in HK; AEOI networks expanded; spotlight on fintech
With the Monetary Authority of Singapore’s (MAS) investigations into 1MDB-related transgressions having drawn to a close at the end of May, Hong Kong and Singapore saw a number of regulatory developments affecting private banks last month.

ASSET MANAGERS | FUNDS | EXCLUSIVE  3 July 2017
Blanket trailer fee ban not necessarily the “right way to deliver” objective advice, says Aberdeen Asset Management
Although it is widely accepted that regulators in Asia will ban trailer fees in the future, Campbell Fleming, Aberdeen Asset Management’s head of global distribution, says a blanket ban may not be the best approach, adding that fully transparent fee structures would be preferable.

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.

TECHNOLOGY | EXCLUSIVE   3 July 2017
Julius Baer revises timeline for IT platform revamp in Asia
Julius Baer has refined the “go-live plan” for its IT renewal project in Asia, with the bank adopting a staggered rollout plan, according to an internal memo seen by Asian Private Banker.

INDUSTRY | EXCLUSIVE  4 July 2017
Dividing RMs’ time between training and servicing clients remains a challenge, says BoS
Private banks are still trying to “strike the right balance” when it comes to dividing their time between training and servicing clients, Bank of Singapore’s Jeffrey Chiam tells Asian Private Banker.

INSURANCE | PEOPLE | EXCLUSIVE  6 July 2017
Broker bags ex-BNP Paribas WM wealth planning head for HK CEO role
The former Hong Kong-based head of wealth planning services at BNP Paribas Wealth Management APAC is set to resurface as Hong Kong CEO of a global wealth solutions firm, Asian Private Banker can reveal.