“Discretionary Portfolio Management is like the holy grail of private banking,” says a Canali-clad head of private banking as we sit in his harbour-view Central office. He is not alone. Whether in Hong Kong’s Central or Singapore’s Marina Bay Financial Centre, bankers all over Asia are clamouring for clients to put money into discretionary accounts, allowing banks to make investment…
Discretion, the better part of valor?
21 February 2011
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