With more next-generation family members in the Asia Pacific stepping into wealth management earlier, demand for professionalised advisory services is rising, with many also choosing to stay with the same wealth managers, according to new findings from UBS. The Global Next Generation Report shows that 72% of respondents in Asia Pacific prefer wealth managers and family offices to seek guidance on […]

The post Next-gen stays put? UBS says yes—for now appeared first on Asian Private Banker.

Asian Private Banker recognised leaders in Asia’s private banking and wealth management industries for their exceptional achievements at a glittering awards ceremony last night.  Over 270 guests attended the gala dinner on the top floor of The Henderson, a landmark in Hong Kong’s Central district, including private banking leadership from the likes of Julius Baer, Bank of Singapore, HSBC Private […]

The post Awards for Distinction 2025: Highlights from APB’s glittering gala dinner appeared first on Asian Private Banker.

Asian Private Banker is delighted to present Final Word 2025, our year-in-review feature featuring regional heads from wealth management players across APAC. Click here to read Final Word 2025 In this exclusive feature, top executives reflected on what kept them up at night in 2025, covering everything from digital transformation to regulations, and business strategy to investment performance. Below are some […]

The post Final Word: Private banking leaders reflect on strong a 2025, reveal strategies for 2026 appeared first on Asian Private Banker.

Just two years after the announced integration with Credit Suisse, UBS has transformed the shotgun marriage into a wealth management superpower, shifting from outflows to achieving record inflows. Amy Lo reasserted that the Swiss bank has returned to “growth mode,” with Hong Kong showing strong momentum. In 2Q25, UBS Global Wealth Management (UBS GWM) raked in a record high of […]

The post “Back to growth mode”: UBS GWM rides Hong Kong momentum to US$2tn opportunity appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) has recorded positive growth in Asia Pacific as the Swiss giant presses ahead with the next phase of its integration with Credit Suisse. In GWM Asia Pacific, under the leadership of Amy Lo and Jin Yee Young, the bank’s 1Q25 revenue was up 9% YoY, or US$86 million, to US$1 billion, according to the […]

The post UBS GWM posts US$1bn revenue in Asia with integration “on track” appeared first on Asian Private Banker.

Over 250 attendees from Asia’s private banking and wealth management sector gathered to honour the recipients of Asian Private Banker’s Awards for Distinction 2024 during an exquisite gala dinner held at The Henderson in Hong Kong’s Central district on Thursday evening. Below are some select photo highlights of the evening:

The post Awards for Distinction 2024: Photo highlights from our gala dinner appeared first on Asian Private Banker.

The leading lights of Asia’s private banking and wealth industries celebrated the winners of Asian Private Banker‘s Awards for Distinction 2024 at a glittering gala dinner in Hong Kong. More than 250 guests were in attendance at the awards ceremony at the state-of-the-art The Henderson venue in the city’s Central district, including the regional CEOs of private banking heavyweights UBS […]

The post Awards for Distinction 2024 gala dinner celebrated in Hong Kong appeared first on Asian Private Banker.

Asian Private Banker is proud to present Final Word 2024, our annual year-in-review segment that highlights all of the crucial issues occupying the minds of the top regional leaders from the likes of UBS Global Wealth Management, HSBC Global Private Banking and Morgan Stanley Private Wealth Management. Click here to read Final Word 2024 In this exclusive feature, top executives […]

The post Final Word: How private bank CEOs in Asia are gearing up to tackle 2025 appeared first on Asian Private Banker.

Hong Kong’s private wealth management industry is upbeat on growth outlook in large part thanks to opportunities from the family offices segment and mainland China after seeing a rebound in asset under management (AUM) in 2023. This is according to the latest Hong Kong Private Wealth Management (PWMA) Report 2024, which revealed that 76% of respondents are moderately or highly […]

The post Optimism runs high in Hong Kong’s private wealth industry after AUM rebound, says PWMA appeared first on Asian Private Banker.

Blackstone has partnered with Hong Kong’s Private Wealth Management Association (PWMA) to launch an educational programme on private markets investing in the city. As the world’s largest alternative asset manager, Blackstone will share its expertise and insights with Hong Kong’s wealth management professionals. Ed Huang, head of Asia Pacific for Blackstone Private Wealth Solutions (PWS), will also be joining the […]

The post Blackstone launches alts education scheme for PWMA Hong Kong appeared first on Asian Private Banker.

Private banks must adapt to follow the flow of private capital to and from Asia as clients seek to diversify their wealth globally, leading private bankers said. “We have seen a lot of wealth migrate globally. As a wealth manager, we have to follow the flow,” said Amy Lo, chair of Global Wealth Management Asia at UBS Global Wealth Management […]

The post The great migration: How do banks adapt and thrive as wealth goes global? appeared first on Asian Private Banker.

Amid rising geopolitical tensions and volatile markets, what is the secret to success in Asia’s private banking space in 2024? According to leading private bankers at the Asian Private Banker Summit 2024 in Hong Kong, staying close to clients is key. Leading up to the Summit this week, Chinese markets had experienced a roller coaster ride. They had first seen […]

The post APB Summit 2024: Top CEOs reveal secrets to thriving amid volatility appeared first on Asian Private Banker.

From expensive lunches in Michelin-starred restaurants, to afternoons on the golf course with high-profile clients, a career in private banking in Asia is undoubtedly one of the most exciting opportunities offered by the finance industry. However, in an evolving and complex industry landscape with high client expectations and a broad array of skills to master, from interpersonal client skills to […]

The post How are private banks turning today’s recruits into tomorrow’s rainmakers? appeared first on Asian Private Banker.

UBS has completed the merger with Credit Suisse, marking a significant milestone in integrating the two Swiss banks. However, pressing challenges remain surrounding the retention of clients who had relationships with both banks and have now increased their exposure to one organisation, as well as the retention of top-tier talent at Asia Pacific’s largest private bank. Amy Lo, in the […]

The post “The power of two”: Amy Lo on retaining clients and talent as UBS enters next chapter appeared first on Asian Private Banker.

Amy Lo has transformed UBS into a major player in the ultra high net worth (UHNW) sector in Asia Pacific, playing a key role in two major mergers. Over nearly three decades at UBS, Lo has risen to prominent roles, guided by mentorship and foundational experiences. In an interview with Asian Private Banker, Lo reflects on her career milestones, the […]

The post “Something that excites me”: Amy Lo’s hole-in-one career at UBS appeared first on Asian Private Banker.

While Hong Kong and Singapore are often viewed as competing wealth management hubs, the two have found a new venue for collaboration when it comes to the former’s Private Wealth Management Association (PWMA). The industry group has unveiled a new executive committee (Exco), with Bank of Singapore’s top executive in the city taking the seat previously occupied by Credit Suisse. […]

The post Meet the Hong Kong PWMA’s new kid on the block: Singapore appeared first on Asian Private Banker.

It is no secret that the key to success as a private banker in Asia is your network. But increasingly that concept has spread to the digital age, with the region’s top relationship managers, market heads and executives all seeking to expand their influence on social media. That is most evident on LinkedIn, the world’s largest professional network, which is […]

The post Influencer power list: The private bankers you need to follow on LinkedIn appeared first on Asian Private Banker.

UBS will beef up the amount of space it takes at its new Hong Kong office on the West Kowloon side of the city, as the bank maintains its bullish stance on mainland China and opportunities arising from the promising Greater Bay Area (GBA). The Swiss bank – Asia’s biggest wealth manager with more than US$600 billion in AUM – […]

The post Why is UBS moving its HK office from swanky Central to connected Kowloon? appeared first on Asian Private Banker.

Asian Private Banker celebrated the winners of its Awards for Distinction 2023 at a gala dinner in Hong Kong with UBS Global Wealth Management, HSBC Global Private Banking and Morgan Stanley Private Wealth Management among the recipients of the most prestigious prizes. The black-tie event, attended by more than 200 senior professionals from leading banking and wealth institutions, honoured those […]

The post Awards for Distinction 2023: Industry celebrates at glittering gala dinner appeared first on Asian Private Banker.

The private banking and wealth management industry in Asia has a significant number of women in senior leadership positions, from UBS’s Amy Lo and Jin Yee Young, J.P. Morgan Private Banking’s Harshika Patel, to Citi’s San-San Chan and DBS’s Carol Wu, to name but a few. Here, Asian Private Banker has gathered the views of ten leading women, who shared their […]

The post IWD 2024: What new PB female leaders can learn from Amy Lo and Harshika Patel appeared first on Asian Private Banker.

The chair of the Family Office Association Hong Kong (FOAHK) will soon join the city’s new institute for family offices, led by billionaire property tycoon Adrian Cheng. Angel Chia, who was named chair of the FOAHK in late 2022, will leave the association on 1 March to take on a new role as executive director of the Hong Kong Academy […]

The post FOAHK chair to lead Adrian Cheng’s new academy for wealth legacy appeared first on Asian Private Banker.

2023 was certainly not an easy year for private banks in Asia Pacific, with the impact of high interest rates, an underperforming Chinese equities market, and clients sticking to deposits. A few private banks also made some structural changes following the collapse of Credit Suisse, with some going through leadership transitions. Below, in no particular order, Asian Private Banker has […]

The post Five private banks to watch in 2024 appeared first on Asian Private Banker.

Ten months after Credit Suisse was forced into a shotgun marriage with historic rival UBS, many bankers from the former have now jumped ship. This raises the question – what next for these bankers, and more importantly, UBS? Here, Asian Private Banker takes an in-depth look into how ex-Credit Suisse bankers are forging new careers at rival institutions and asks what […]

The post US$165bn question: What next for Credit Suisse bankers post-UBS? appeared first on Asian Private Banker.

Hong Kong’s Private Wealth Management Association (PWMA) announced the appointment of a new CEO on Monday, following the resignation of former CEO Peter Stein late last year. Vivien Khoo will start her new role as CEO and managing director at PWMA on Tuesday this week. She will report directly to the PWMA executive committee. As a former Goldman Sachs veteran, […]

The post Hong Kong’s PWMA names ex-Goldman Sachs veteran as CEO appeared first on Asian Private Banker.

Interest rates, China and sustainability are among the topics that will be top of mind for private bankers in the region next year, according to leading CEOs who took part in Asian Private Banker’s Final Word 2023. The year in review project, which collects the insights and views of private banking and wealth management leaders, covers trends ranging from investments, […]

The post Final Word 2023: What is keeping private bank CEOs up at night? appeared first on Asian Private Banker.

Asia Pacific continues to lead the way in the growth in the number of new billionaires, with 85 new billionaires appearing in Hong Kong and China alone over the past 12 months. In this year’s edition of the UBS Billionaire Ambitions Report, for the first time in nine editions, billionaires have accumulated more wealth through inheritance rather than entrepreneurship. UBS […]

The post China, Hong Kong minted 85 new billionaires in past 12 months: UBS appeared first on Asian Private Banker.

2023 has been another challenging year for private banks. From the high interest rates environment to the shock merger of UBS and Credit Suisse, to the slower-than-expected growth in mainland China, CEOs in Asia Pacific shared how they navigated these and other challenges during the plenary panel discussion CEOs in Focus at the 13th annual APB Summit 2023 in Hong […]

The post UBS, Morgan Stanley, BNP Paribas CEOs reveal secrets of navigating a challenging 2023 appeared first on Asian Private Banker.

As part of the effort to cater to the growing needs of family offices and the next generation of wealth owners, the Hong Kong SAR Government on Tuesday announced the launch of the Hong Kong Academy for Wealth Legacy (HKAWL). The HKAWL, launched under the Financial Services Development Council, aims to foster Hong Kong’s ecosystem for family offices by encouraging […]

The post Here’s what UBS, HSBC GPB make of Hong Kong’s new wealth legacy academy appeared first on Asian Private Banker.

With the new generation starting to take over trillions in family wealth in Asia, private bank CEOs highlighted why family offices and next-gen bankers are the best way to tap into the future of Asia’s private wealth space. In this year’s Private Wealth Management Association (PWMA) summit, private banks gathered in a one-day event in Hong Kong to discuss key […]

The post Family offices and next-gen bankers: PB CEOs look into the future of private wealth appeared first on Asian Private Banker.

Although the AUM in the Hong Kong private wealth space dropped significantly in 2022, the city’s status as the leading private wealth hub is unchanged, with continued growth expected on the back of Greater Bay Area connectivity and the growing family office space. This is according to Amy Lo, chairman Private Wealth Management Association (PWMA) executive committee, commenting on the […]

The post Amy Lo: Hong Kong is still the leading private wealth hub appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM) has unveiled a new management structure for Asia Pacific, with senior executives from Credit Suisse joining the team following the merger between the two historic Swiss private banking giants, Asian Private Banker can reveal. Iqbal Khan, president of UBS GWM, will remain in situ, with Yves-Alain Sommerhalder, a Credit Suisse veteran, returning to take up the […]

The post Revealed: The Credit Suisse execs taking top jobs at UBS in APAC appeared first on Asian Private Banker.

Jin Yee Young has a big job waiting for her in Singapore as the UBS and Credit Suisse integration process starts to heat up. One central question is, what happens next to bankers across both lenders, particularly for those at the top level with overlapping books? When UBS acquired Credit Suisse in a rescue deal for US$3.2 billion, UBS made […]

The post “Why do I need two RMs?” UBS faces challenges of US$600bn Asia book appeared first on Asian Private Banker.

Credit Suisse’s current head of wealth management for APAC will soon take on a new strategic role at the new combined entity, according to an internal memo sent by UBS wealth chief Iqbal Khan. Effective 3 July, Benjamin Cavalli will move back to Singapore and take on a new role as the head of Global Wealth Management (GWM) strategic clients, […]

The post Credit Suisse’s Benjamin Cavalli to take on new role at UBS appeared first on Asian Private Banker.

UBS has completed the acquisition of Credit Suisse, according to an announcement on Monday. The completion unites the two former rivals to become the largest wealth manager in the world. UBS will now manage two separate parent banks: UBS and Credit Suisse, with each institution continuing to have its own subsidiaries and branches, serve its clients, and deal with counterparties. […]

The post Are Credit Suisse bankers ready to join the “new UBS”? appeared first on Asian Private Banker.

The following is an excerpt from Asian Private Banker’s Bottom Line newsletter – an essential rundown of all of the past week’s essential news and views on the region’s private banking industry. Bottom Line is available to all APB subscribers Earlier this year, I used the Bottom Line newsletter to tip Deutsche Bank International Private Bank (Deutsche Bank IPB) as […]

The post Bottom Line: The most wanted woman in private banking appeared first on Asian Private Banker.

The takeover of troubled Credit Suisse by historic rival UBS has sent shockwaves through the financial industry and raised a multitude of important questions – chief among them being: “What happens next?” Below, Asian Private Banker rounds up five key implications of the transaction that has shaken the world of private banking. What’s behind the deal? While Credit Suisse had […]

The post RMs, management, clients: 5 things you need to know about the UBS-Credit Suisse deal appeared first on Asian Private Banker.

The growing investment needs from U/HNWIs in Asia, especially from China, have pushed private banks towards building a integrated and customised wealth management platform for each individuals as one size doesn’t fit all, speakers told in a panel discussion on “Inclusive Asset & Wealth Management Landscape” during Asia Financial Forum. Angel Ng, managing director, head of Asia at Citi Global […]

The post Wealthy Chinese eager to add new assets but need more education: BoC, UBS GWM appeared first on Asian Private Banker.

Welcome to Asian Private Banker‘s Final Word 2022. This year-in-review feature collects the insights and views of private banking and wealth management leaders from across the regional industry. As well as assessing 2022’s top trends – from investments, to products, to technology – it also provides an opportunity for top CEOs, COOs and investment heads to lay out their predictions […]

The post Final Word 2022: What’s in store for 2023? UBS, Credit Suisse, HSBC and other industry leaders have their say appeared first on Asian Private Banker.

Billionaires including those in Asia-Pacific are increasingly eager to use their capital to address environmental challenges ranging from cutting greenhouse gases to improving access to education, a new report has found. The UBS “Billionaire Ambitions Report 2022“, which came out on Thursday (December 8), found that 95% of respondents think they should leverage their business capital to tackle global challenges, […]

The post ‘Instability and innovation’: Billionaires see opportunity to tackle environmental challenges appeared first on Asian Private Banker.

Challenging global market and macro conditions, set against the backdrop of longstanding COVID-19 restrictions in China, have made for a challenging 2022 for Asia-Pacific’s private banking industry. But regional CEOs are confident that next year could bring renewed momentum. While 2022 has been an extremely challenging year for the banking industry, it is particularly true for Credit Suisse given the […]

The post Volatility and opportunities: Asia’s top PB CEOs on what’s in store for 2023 appeared first on Asian Private Banker.

Extraordinary social, political and fiscal challenges have made 2022 one of the toughest years in recent memory for private banking and wealth management. In the face of this, how are private bank CEOs steering their organisations through stormy waters? Where are they finding financial diversification opportunities? And what do they believe is in store for 2023? The flagship CEO panels […]

The post What Asia’s top PB CEOs have to say about the APB Summit appeared first on Asian Private Banker.

UBS has launched a new digital wealth management platform targeted at prospective clients in the Greater Bay Area (GBA) of China with at least US$150,000 in invested assets. After almost six years of planning, WE.UBS was introduced in Qianhai, Shenzhen on Wednesday by UBS Fund Distribution (Shenzhen) Company Limited (UBS FS), wholly-owned by UBS. It is the second digital wealth […]

The post UBS targets GBA affluent market with “unique” new digital platform appeared first on Asian Private Banker.

UBS, Asia’s biggest private bank by AUM, is planning to relocate its Hong Kong operations to a new building under development in Kowloon by 2026. A statement from developer Sun Hung Kai Properties on Monday said that the Swiss bank would occupy the top nine floors – or about 250,000 square feet – of a new tower on top of […]

The post UBS to leave Hong Kong Island in Kowloon relocation appeared first on Asian Private Banker.

Built to bring the best of UBS investment capabilities to clients, Circle One is a new app that connects clients and experts of the bank, explained Amy Lo. The co-head of wealth management Asia Pacific and CEO of UBS Hong Kong said that the digital app, launched in Asia in May this year, has attracted a few thousand users — […]

The post Bringing the best of UBS to clients: Amy Lo on the launch of Circle One appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) has appointed a new Taiwan market head, according to an internal memo seen by Asian Private Banker. Effective 1 July, Damien Hsiao will take on the role of business sector head of Taiwan international and lead market head for the Taiwan market, said Amy Lo and August Hatecke, the two co-heads of UBS GWM […]

The post UBS GWM head of Taiwan international departs, successor appointed appeared first on Asian Private Banker.

UBS has introduced a digital platform designed to connect clients to experts, thought leaders and actionable ideas. UBS Circle One — which was co-created with 100 digitally savvy clients in Hong Kong and Singapore, and which will connect investors to ideas on a global ecosystem — will be first launched to clients in Asia Pacific, with plans to roll out […]

The post UBS picks Asia to launch new digital platform appeared first on Asian Private Banker.

Keen on making inroads into a market dominated by local players, some of the world’s largest private banks have been bulking up their presence in the potentially lucrative China onshore market in a bid to tap the country’s vast pool of wealth. By the end of 2021, the size of investable assets held by HNWIs in China reached RMB 96 […]

The post Prospect of US$27T in China onshore wealth tantalises international PBs appeared first on Asian Private Banker.

Hong Kong’s private banking industry is characterised by the prominence of women in leadership roles, and now the sector is taking steps to build the networks and mentorship programmes needed to nurture the next generation of C-suite women. In addition to senior female private bankers, such as Amy Lo at UBS Global Wealth Management (UBS GWM) and Kwang Kam-shing at […]

The post How Hong Kong’s private banks are nurturing female leaders appeared first on Asian Private Banker.

Is gender diversity a mere box-ticking exercise? What can be done to bridge the salary gap? Is discrimination or bias still a thing? What was your experience like? What will you tell the next generation of females leaders? These are some of the questions we asked female leaders in private banking and asset management for this International Women’s Day. HSBC […]

The post “It’s about breaking our own stereotypes”: Women in the ‘C-suite’ tell it as it is appeared first on Asian Private Banker.

The heads of the leading private banks in Asia believe that onshore markets can provide the next major opportunities for their businesses, but they differ on how best to navigate the region’s domestic wealth landscape. “Today, a lot of people are talking about wealth from an offshore perspective, but we believe wealth is fundamentally domestic,” François Monnet told attendees at […]

The post Onshore markets offer great opportunities, if you know how to unlock them: Asia PB CEOs appeared first on Asian Private Banker.

The wholly-owned wealth management subsidiary of UBS AG in Shenzhen has received a funds distribution licence from the local regulators, the Swiss bank announced in a press release on Monday. The Shenzhen Bureau of the China Securities Regulatory Committee (CSRC) has granted the licence to UBS Qianhai Wealth Management Company Limited. The subsidiary, which is situated in Shenzhen’s Qianhai economic […]

The post UBS WM subsidiary in Shenzhen gets regulatory green light for fund distribution appeared first on Asian Private Banker.

Regulatory complexity remains an area of concern for the private wealth management industry, with 61% of surveyed firms still finding the Professional Investor (PI) rules complex, despite the clarifications provided by the Hong Kong Securities and Futures Commission (SFC). The Private Wealth Management Association (PWMA) and KPMG China on Monday jointly released the sixth annual PWM survey, titled Hong Kong […]

The post Despite clarifications, most PWM firms deem Professional Investor rules complex: PWM Report 2021 appeared first on Asian Private Banker.

Announcing the details of the long-awaited Wealth Management Connect scheme on Friday (10 September), the Hong Kong Monetary Authority (HKMA) specified that cross-boundary banks will have to sell their investment products in an “execution-only” model to cross-boundary clients under existing sales and soliciting restrictions. The People’s Bank of China (PBoC), HKMA and the Monetary Authority of Macao on Friday promulgated […]

The post GBA Wealth Management Connect scheme to launch in “execution-only” model appeared first on Asian Private Banker.

Authorities in the Greater Bay Area (GBA) have inked a memorandum of understanding (MoU), establishing the cooperation framework and liaison mechanism for the Wealth Management Connect scheme. Four mainland Chinese regulators — the People’s Bank of China (PBoC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange (SAFE) […]

The post Regulators sign MoU for Greater Bay Area Wealth Connect appeared first on Asian Private Banker.

Private wealth management institutions in Hong Kong are still expecting annual AUM growth of 5-10% and are betting on achieving this by further penetrating mainland China, according to the fifth annual PWM report, released on Monday. The report, by the Private Wealth Management Association (PWMA) of Hong Kong and KPMG China, carry the results of an industry survey and a […]

The post Hong Kong PWM industry expects 5-10% annual growth in AUM, zeroes in on serving China wealth: PWMA appeared first on Asian Private Banker.

While COVID-19 came as a major disruption to the private banking industry, private bank CEOs concurred that the industry has navigated the pandemic with a mix of circumspection and satisfaction. Certain trends arising from the disruption will be here to stay, they perceived, potentially changing or reversing some fundamental rules as we know them. Speaking at Asian Private Banker’s Leaders […]

The post Many “cardinal rules” in private banking no longer apply in the wake of COVID-19 appeared first on Asian Private Banker.

China’s deft handling of the COVID-19 pandemic has helped its billionaires weather the economic downturn better than their global peers, bolstering the narrative of the Middle Kingdom benefiting the most from a possible rebound in the wake of the pandemic. The wealth of Chinese billionaires grew the fastest in Asia with a new record of 415 billionaires getting minted between […]

The post What pandemic? Wealth of billionaires swells, led by China appeared first on Asian Private Banker.

The exponential growth of personal wealth in China has been the centrepiece of the decade — by the end of 2019, it was estimated that the investible assets of around two million Chinese HNWIs topped RMB 200 trillion. The numbers are a promising sight to many international players, who in the last two years saw their initial onshore expansion being […]

The post Onshore business status update — How global PBs envision the China growth story appeared first on Asian Private Banker.

The “Wealth Management Connect” scheme, jointly launched yesterday by the PBoC, HKMA, and the Monetary Authority of Macao, is an important step in fulfilling Hong Kong’s unique potential as a wealth management hub, according to Hong Kong’s Private Wealth Management Association (PWMA). “Hong Kong wealth management providers have a tremendous amount of experience that is well suited to serving the […]

The post Wealth Connect is a crucial step in realising HK’s WM hub potential: PWMA appeared first on Asian Private Banker.

A cogent argument could be made that UBS Global Wealth Management is entering its most important phase since arriving in Asia over fifty years ago. Yes, it is the region’s largest offshore-focused private bank by a number of measures and it is probably private banking’s most recognised brand. But the coronavirus pandemic has amplified dynamics that are reshaping — and […]

The post UBS’s Amy Lo and August Hatecke: “Great chemistry, successful revamp” appeared first on Asian Private Banker.

Following plans to cut 500 wealth management jobs globally, UBS Global Wealth Management has reorganised its reporting structure and shuffled its senior ranks in Asia, in a bid to streamline decision-making and bring clients closer to its leadership. Henceforth, UBS GWM in Asia will use the “sector head” designation, replacing the “regional market manager (RMM)” and “country team head” titles that […]

The post UBS names sector heads, reorganises Asia leadership in major WM redesign appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asks: If we can agree that effective private banking relies on the bank having a deep understanding of a client’s […]

The post Final Word 2019: How tech helps PBs to better understand clients appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investment solutions, regulations and compliance, and technology. For this instalment, Asian Private Banker asks: What is the single biggest challenge and the single biggest growth opportunity for your business today? […]

The post Final Word 2019: PB CEOs share their banks’ greatest challenges and opportunities appeared first on Asian Private Banker.

The latest ‘Billionaires Report’ published by UBS and PwC has found a drop in the number of Chinese billionaires and wealth for the first time in five years due to adverse market conditions and a strong USD in 2018. Last year, the total wealth of billionaires globally shrunk by 4.3% YoY, with the APAC region recording the greatest annual drop […]

The post 13% fewer billionaires in China as rough markets rock company values appeared first on Asian Private Banker.

Discussions around the Greater Bay Area (GBA) cross-boundary wealth management connect scheme are still at very “high level”, according to UBS GWM Asia co-boss and PWMA chairman Amy Lo, who also shared that the scheme should be highly beneficial for Hong Kong’s wealth management industry. The project was mentioned as one of 16 policy measures discussed during the plenary meeting […]

The post Amy Lo: GBA two-way WM connect scheme still in high level discussions appeared first on Asian Private Banker.

UBS sees “tremendous investment opportunities” for its clients in six disruptive technological industries, Amy Lo, the bank’s co-head wealth management APAC, said at the UBS Disruptive Technology Summit in Hong Kong on Tuesday. The bank deemed that only the “fittest, fastest or first” will survive in the six industries — 5G, fintech, AI, smart cities, agritech, and healthtech — and […]

The post UBS’s Amy Lo names six disruptive tech industries that present “tremendous investment opportunities” appeared first on Asian Private Banker.

UBS Global Wealth Management has promoted a number of its most senior executives in Asia in what amounts to the first major organisational rejig following the appointment of Amy Lo and August Hatecke as APAC co-heads for wealth management late last year. According to an internal memo seen by Asian Private Banker, Adeline Chien, regional market manager for Hong Kong […]

The post UBS GWM’s APAC leaders unveil raft of senior promotions appeared first on Asian Private Banker.

UBS Global Wealth Management has appointed two new Asia Pacific co-heads to jointly fill Edmund Koh’s shoes, following his promotion to the position of APAC president as he steps up as Kathryn Shih’s successor. Amy Lo and August Hatecke will succeed Koh, effective 1 January 2019. Divvying up the roles, Lo will be vested with the main purview over the Swiss lender’s […]

The post UBS GWM names new APAC co-heads appeared first on Asian Private Banker.

China generated a phenomenal 106 new billionaires in 2017 — outnumbering that of the Americas and EMEA regions — to lead APAC’s total US$2.7 trillion of wealth from the segment, according to a report jointly released by UBS and PwC today. The ‘UBS/PwC Billionaires Report 2018: New Visionaries and the Chinese Century’ revealed that APAC’s share of billionaire wealth in 2017 […]

The post China minted more billionaires in 2017 than Americas and EMEA: UBS-PwC appeared first on Asian Private Banker.

The Private Wealth Management Association (PWMA) has outlined a set of codes specifically for the industry, in an effort to promote Hong Kong as a global private wealth management (PWM) hub. A white paper, co-authored by the PWMA and KPMG China, was published on 27 September, making 13 suggestions for the acceleration of growth for the private wealth industry in Hong […]

The post PWMA urges HK regulators to develop PWM code of conduct appeared first on Asian Private Banker.

Asian HNWIs are not putting their money where their mouths are as a wide gap persists between the adoption rate of sustainable investing (SI) and private banking clients’ interest in ESG, according to data from UBS Global Wealth Management (GWM). According to the latest UBS Investor Watch Study, 85% of HNWIs in both Singapore and Hong Kong are interested in […]

The post High barriers to SI adoption despite keen interest: UBS GWM appeared first on Asian Private Banker.

Revenue growth in the fintech industry will outpace that of the broader financial sector by three times, according to UBS Global Wealth Management (GWM). As both incumbent and disrupting companies continue to invest in technology in a bid to grab or maintain market share, spending in the technology sector remains high. UBS GWM believes that fintech revenues alone will “more than […]

The post UBS: Fintech revenues to grow 3x faster than financial sector’s appeared first on Asian Private Banker.

Hong Kong’s AUM will double over the next five years, according to the Private Wealth Management Association (PWMA) and KPMG China, which released their Hong Kong Private Wealth Management Report 2018 today. “The Hong Kong private wealth management industry continues to expand this year, reaching US$1 trillion in AUM,” said Amy Lo, PWMA chairman and UBS’s chairman and Greater China […]

The post Hong Kong’s AUM “to double in next five years”: PWM Report 2018 appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM) raised US$100 million for its cross-asset sustainable investment (SI) mandate from clients in Asia in the first half of 2018. The amount was raised in a matter of months between the mandate’s launch in April and June-end. Amy Lo, the private bank’s chairman and Greater China head, said the total amount year-to-date is closer to […]

The post UBS GWM raises US$100 million for SI mandate in 1H appeared first on Asian Private Banker.

To recognise the achievements and agency of women globally on International Women’s Day 2018, Asian Private Banker invited some of the region’s outstanding female leaders in wealth management to share their thoughts and recollections on the evolving role of women in the industry, the needs of female investors, and the importance of diversity. Our contributors hardly need an introduction, and […]

The post Leaning in: views from Asia’s leading women in wealth appeared first on Asian Private Banker.

One key takeaway from Asian Private Banker’s annual ‘Final Word’ series is that Asia’s private banking CEOs generally agree that opportunities abound in the region’s onshore markets. But penetrating these markets in an effective, cost-efficient and, ultimately, sustainable manner is another matter altogether, with onshore forays varying drastically in form, scale and ambition. What’s more, not all private banks believe they […]

The post Asia’s PBs remain divided over how to approach onshore markets appeared first on Asian Private Banker.

This piece is the fifth instalment of The Final Word series, where top private banking and wealth management heads share their views on industry trends in 2017 and the year to come. Today, the theme is technology. What are your priorities for 2018 in terms of digitising your offering and upgrading technology? Pierre Vrielinck, CEO, Wealth Management APAC, BNP Paribas […]

The post The Final Word: Technology appeared first on Asian Private Banker.

This piece is the fourth instalment of The Final Word series, where top private banking and wealth management heads share their views on industry trends in 2017 and the year to come. Today, the theme is regulations and compliance. In 2017, regulators in Hong Kong and Singapore focused on suitability and AML, respectively. How have you responded to intensified scrutiny […]

The post The Final Word: Regulations and compliance appeared first on Asian Private Banker.

This piece is part of The Final Word series, where top private banking and wealth management heads share their views on industry trends in 2017 and the year to come. Today, the theme is business performance. For some, asset gathering in 2017 was all about adding to the frontline via key hires, while for others, the focus was on increasing […]

The post The Final Word: Business performance appeared first on Asian Private Banker.

UBS Wealth Management has made a string of organisational changes to its investment platform and solutions (IPS) and senior management teams in Hong Kong, according to three memos seen by Asian Private Banker. According to the first memo penned by Christian Wiesendanger, head of WM, IPS and Edmund Koh, head of wealth management for APAC, Jean-Claude Humair has been appointed […]

The post UBS WM rejigs senior management in Hong Kong appeared first on Asian Private Banker.

UBS Wealth Management plans to lease yet another floor at its Kowloon office in the second half of 2018, Adeline Chien, head of Kowloon office, Hong Kong, said at a media briefing today at bank’s digital hub in the city. Chien said that 2017 has been a “successful” year for the Kowloon office, with the bank growing its business. “We […]

The post UBS WM to add another floor to Kowloon office in 2018 appeared first on Asian Private Banker.

Greetings, We are currently at the pointy end of the year for CIOs, who are heads down working on their 2018 outlooks and snappy ‘top 10’ lists for the next 12 months.  In fact, I’ve spent the past couple of days going back over your 2017 ideas/calls in anticipation of our first annual High Conviction event in Singapore next week […]

The post Top Eight for Week 27 October – 3 November 2017 appeared first on Asian Private Banker.

The Pilot Apprenticeship Programme for Private Wealth Management, run by the Hong Kong Monetary Authority (HKMA) and Private Wealth Management Association (PWMA), has been expanded following with an “overwhelming response to the pilot launch”, the co-organisers have said. HKMA and PWMA had expected 20 apprentices for the first cycle but instead placed 29 university students with 10 participating PWMA member […]

The post PWMA’s apprenticeship scheme expanded by popular demand appeared first on Asian Private Banker.

Such is the lure of China’s burgeoning private wealth space that all but a few of Asia’s private banks are actively exploring how best to tackle a market that, while severely under penetrated, is dominated by local incumbents who derive benefit from their scale and coverage, as well as their nuanced understanding of regulations. A few key facts and figures […]

The post UBS’ Amy Lo: “We are not competing with local Chinese banks and we don’t intend to” appeared first on Asian Private Banker.

For the first time, Asian billionaires outnumber their US counterparts, with the former set to surpass the latter’s total wealth in just four years, according to UBS and PwC’s joint Billionaires Report released today. The number of billionaires in Asia grew from 520 in 2015 to 637 in 2016, while the number of US billionaires inched up from 538 in 2015 […]

The post Asia now has more billionaires than the US appeared first on Asian Private Banker.

Amid much hype about how blockchain can be used to standardise know your client (KYC) processes, OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG) have teamed up with the Info-communications Media Development Authority of Singapore (IMDA) to develop a KYC consortium that leverages blockchain technology, according to a joint press release. The KYC blockchain runs on distributed ledger technology, […]

The post OCBC, HSBC, MUFG and Singaporean regulator develop KYC blockchain platform appeared first on Asian Private Banker.

A shared KYC platform for banks operating in Hong Kong will be launched “very soon”, according to UBS’ Amy Lo, who adds that the utility will first cover corporate clients and SMEs and that the inclusion of individual clients is “still under discussion”. “In terms of regtech, we have been discussing with regulators the development of a digital identity [resource],” […]

The post Shared KYC utility coming soon to Hong Kong, says UBS’ Amy Lo appeared first on Asian Private Banker.

Hong Kong’s Private Wealth Management Association (PWMA) says assets under management (AUM) in the domestic private wealth market have risen to above US$800 billion, with a unanimous consensus amongst member firms that Chinese clients are fuelling growth. “The AUM managed has increased to well over US$800 billion this year in our member banks,” Amy Lo, chairperson of the PWMA, said […]

The post Wealth firms in Hong Kong see AUM rise to over US$800bn as Chinese clients buoy growth appeared first on Asian Private Banker.

UBS Wealth Management’s Amy Lo and Ravi Raju will no longer share leadership duties for the bank’s global UHNW business in the region, with Raju taking over as the sole head of the upper segment in APAC, according to an internal memo penned by Edmund Koh, head of wealth management APAC, and Zurich-based Joe Stadler, head of global UHNW. Meanwhile, […]

The post UBS’ Raju becomes sole head of global UHNW APAC, with Lo picking up chairman title appeared first on Asian Private Banker.

UBS Wealth Management has soft-launched its new fintech lab in Hong Kong, according to Amy Lo, head of Greater China and co-head of global UHNW for the Asia Pacific at UBS Wealth Management, and country head of UBS Hong Kong. The ‘digital hub’, the plans for which were first unveiled by Lo nearly nine months ago, shares the third floor of […]

The post UBS WM launches fintech lab in Hong Kong appeared first on Asian Private Banker.

Hong Kong’s Private Wealth Management Association (PWMA) has partnered with the Hong Kong Monetary Authority (HKMA) to roll out the Treat Customers Fairly  (TCF) Charter to the 47 PWMA members, in order to make the industry “more competitive”, according to a joint press release from the two industry bodies. “To remain competitive as the premier private wealth management hub in Asia, […]

The post HKMA and PWMA roll out “treat customers fairly” framework to keep industry “competitive” appeared first on Asian Private Banker.

By launching two new internship programmes this summer, industry bodies and regulators hope to address the shortage of competent practitioners in Hong Kong’s wealth management industry. Asian Private Banker compares the WAM Pilot Programme and the Pilot Apprenticeship Programme below. The WAM programme is being driven by the Hong Kong Securities and Investment Institute (HKSI), which says it has seen […]

The post Comparing HK’s new wealth management programmes, which have had “extremely positive responses” appeared first on Asian Private Banker.

Hong Kong’s wealth management industry needs new blood if it is to meet the target of doubling assets under management (AUM) within five years, says Amy Lo, chairwoman of the Private Wealth Management Association (PWMA) and Greater China and country head for UBS Hong Kong. “The interest for university students joining the financial industry has decreased since the financial tsunami,” […]

The post More frontline and legal staff needed in HK wealth firms, says UBS’ Lo appeared first on Asian Private Banker.

Contrary to popular belief, Asian demand for impact investment strategies currently outpaces the global average, according to a report released by UBS Wealth Management. The report shows that 67% of family offices in the Asia Pacific are either already active or likely to be active in the future when it comes to impact investing. The global average is 62%. For […]

The post APAC family offices dial up demand for impact investing appeared first on Asian Private Banker.

Although China’s overall wealth generation outlook remains robust – as evidenced by net increase of 30 billionaires – a new report by UBS and PwC reveals that the country’s ‘new economy’ is now the engine of mega-wealth growth and that billionaires are undergoing a change in their investment behaviour. According to the UBS’ Greater China head of Wealth Management, Amy Lo, […]

The post Chinese billionaire turnover points to greater demand for delegation appeared first on Asian Private Banker.

UBS Wealth Management is planning to transform part of its Kowloon office into a “Techhub” for fintechs, reveals Amy Lo, head of UBS Wealth Management Greater China and country head for UBS Hong Kong, speaking at the Swiss bank’s “Disruptive Technology” conference in Hong Kong today. “We are developing a ‘Techhub’ in Hong Kong in our new Kowloon office where we […]

The post Part of UBS WM’s Kowloon office will become a “Techhub”, reveals Lo appeared first on Asian Private Banker.

Hong Kong’s US$700 billion private banking industry will face a shortage of quality middle and back office talent within the next five years, according to report produced by the Private Wealth Management Association (PWMA) and PwC, released yesterday. The report claims that private banks in Hong Kong will place a greater emphasis on risk management and the provision of advice and […]

The post HK private banks face middle and back office talent shortage appeared first on Asian Private Banker.

With 3,000 private banking applications to date, Amy Lo, the Private Wealth Management Association (PWMA)’s chairwoman and UBS Wealth Management’s Hong Kong head, said she aims to have 80% of applicants certified by the end of 2016, and hopes to see more private bankers flood the industry. “We are looking at ways to groom the wealth management talent by working […]

The post 80% of private bankers to be certified by end of 2016: PWMA chairwoman Amy Lo appeared first on Asian Private Banker.

First quarter numbers, as any private bank on the street will tell you, have been less than stellar. A quarter-on-quarter comparison with last year’s numbers paints an even sorrier picture. To be fair, this is largely because the first quarter last year was “gangbusters”, as one banker eloquently put it. “We are operating from a cost-conscious mindset but we continue […]

The post The Scoop with Shruti Advani: Why UBS has a 36,000 square foot billboard in Kowloon appeared first on Asian Private Banker.

High net worth entrepreneurs in Hong Kong are challenging the traditional view of retirement, viewing it as an opportunity to ramp up their businesses rather than wind down, a recent report from UBS Wealth Management reveals. When asked about their plans in retirement, 40% of entrepreneurs in Hong Kong believed they would use their retirement period as an opportunity to […]

The post For Hong Kong entrepreneurs, retirement means business appeared first on Asian Private Banker.