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PBs can no longer expect to generate revenue with standard, undifferentiated services: McKinsey

The private wealth management industry achieved attractive growth across the region in 2021 which has served as a buffer to the decreasing ROE. However, with asset corrections looming as economic cycles change, Joydeep Sengupta cautioned that private banks need to improve their efficiency and service offerings. “In the last 12 to 18 months,” the senior partner at McKinsey told Asian…

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