While Southeast Asia’s emerging wealth markets have historically been driven by transactional brokerage and advisory trading, a structural shift is underway. According to Abhishek Mehrotra, HSBC Private Bank’s market head of Southeast Asia international, younger wealth generators across Thailand and the Philippines are pivoting toward discretionary mandates and alternative investments – fundamentally altering how international lenders scale their operations in […]

The post HSBC PB targets ASEAN growth with discretionary mandates appeared first on Asian Private Banker.

Eastspring Investments is sharpening its focus on Asia’s booming wealth market, believing its local expertise will give it an edge as client interest in local investment solutions picks up and US market exceptionalism fades. “Priority number one is we intend to continue doubling down and focusing on building our core channels. That means making sure that we are strengthening and […]

The post US$275bn asset manager banks on local know-how in Asia appeared first on Asian Private Banker.

Having hired over 100 bankers since 2022 and seen a 25% increase in AUM, UOB’s head of private wealth, Chew Mun Yew, is not done yet. He is looking to push the bank’s AUM and RM headcount even higher with an ambitious five-year plan amid fierce competition in the Lion City. While still lagging behind its Singaporean peers DBS and […]

The post How Chew Mun Yew plans to double UOB PW’s AUM by 2026 appeared first on Asian Private Banker.

Amid the current challenging time for global equities, Southeast Asia has been a relative bright spot1. This is in part due to the rebound in growth2 as the region’s economies reopen and transition to living with COVID-19. The ongoing recovery in tourism has helped to buoy growth, with China’s eventual reopening likely to provide a fresh boost in demand. China […]

The post ASEAN is big… and getting bigger in portfolios? appeared first on Asian Private Banker.

 Alexander Treves, Head of APAC Investment Specialists for J.P. Morgan Asset Management’s Emerging Markets and Asia Pacific Equities team, outlines the robust growth story of a region that has long been underappreciated by investors.

The post ASEAN: a bright spot in global equities appeared first on Asian Private Banker.

This is a sponsored article from PineBridge Investments. Authors Omar Slim, CFA, co-head of Asia ex-Japan fixed income and portfolio manager Andy Suen, CFA, FRM, co-head of Asia ex-Japan fixed income and portfolio manager Elizabeth Soon, CFA, head of Asia ex Japan Equities Huzaifa Husain, head of India Equities Cynthia Chen, CFA, portfolio manager, Asia ex Japan Equities After finally […]

The post 2023 Asia ex Japan fixed income and equity outlook: Selectivity fuels performance appeared first on Asian Private Banker.

CIMB Private Banking, Malaysia’s largest private bank, has a knack for confounding the naysayers in an economy that is taking its share of knocks. Even before COVID-19 hit, the Southeast Asian nation was beset with political turmoil, slowing growth and scandals surrounding state fund 1Malaysia Development Berhad. Despite these challenges, CIMB’s private banking team delivered an average 8% annual growth […]

The post How CIMB PB aims to unleash ASEAN’s potential appeared first on Asian Private Banker.

With vaccination rates lagging, COVID-19 lockdowns returning and political risks stirring, Southeast Asia might seem more trouble than it is worth for wealth managers. But that is not stopping some private banking heavyweights from forecasting robust returns from ASEAN markets in 2022. Take Alexandre Tavazzi, Asia CIO at Pictet Wealth Management: he offers the rationale that while these economies were […]

The post World’s biggest trade deal to boost ASEAN assets: private banks appeared first on Asian Private Banker.

Private banks and asset managers are predicting that a regulatory crackdown in China will continue to ease going into 2022, but their views differ on whether it is the best time to start investing in the world’s second-biggest economy again. Where next for China?  China’s economic rebound has stumbled this year as regulators in the country have pursued a clampdown […]

The post Investment outlook for 2022: Private banks bet China’s regulatory crackdown is over appeared first on Asian Private Banker.

Goldman Sachs has upgraded its view on China, believing its economy is coming out of the bend, while its 2022 outlook for Asia expects ASEAN markets to stand out next year as an area of accelerating growth. “The specific areas of opportunities are, first of all, China, on which we’ve upgraded our view, and secondly, a number of ASEAN markets, […]

The post Goldman Sachs turns bullish on China, projects accelerating ASEAN growth in 2022 appeared first on Asian Private Banker.

The regional head for ASEAN and South Asia, and global head, global South Asia community, at Standard Chartered Private Bank is leaving the bank, Asian Private Banker understands. Cedric Lizin has resigned and is set to leave the bank, after occupying the role for a little short of two years. He officially joined the bank in December 2019, replacing NRI veteran […]

The post StanChart PB’s regional head for ASEAN & South Asia to depart appeared first on Asian Private Banker.

HSBC Private Banking has appointed a market head to oversee the growth of its offshore business in the ASEAN and Australian markets, Asian Private Banker can reveal. Chris Harwood will manage the desk heads and client relationships in the ASEAN and Australia markets, according to an internal memo seen by Asian Private Banker. Harwood is an HSBC veteran, having headed […]

The post HSBC Private Banking names ASEAN and Australia market head appeared first on Asian Private Banker.

Standard Chartered Private Bank has overcome the challenge of remote client account opening in Singapore, Cedric Lizin told Asian Private Banker. However, the regional head of ASEAN & South Asia and global head of Global South Asia Community (GSAC) for private banking said that the bank’s prospecting ability is facing obstacles because most physical networking events have been cancelled due […]

The post Remote onboarding is not a challenge, remote prospecting is: Cedric Lizin of StanChart appeared first on Asian Private Banker.

HSBC Private Banking has hired a former J.P. Morgan executive director as desk head for Thailand, Asian Private Banker can reveal. Veronica Toh has joined the British lender as desk head for Thailand, based in Singapore. Toh hails from J.P. Morgan Private Bank, which she joined in 2013 as an executive director focusing on Southeast Asian markets. She is no stranger to HSBC, […]

The post HSBC PB hires desk head for Thailand from J.P. Morgan PB appeared first on Asian Private Banker.

Bank of Singapore — the private banking subsidiary of OCBC Bank — has entered into a conditional agreement to acquire Malaysia-based Pacific Mutual Fund Berhad (PMF) for approximately RM35.6 million, as part of its plans to capture nascent opportunities in the ASEAN country. “Pending regulatory approvals, the acquisition of PMF will enable us to deepen our presence in Malaysia — […]

The post Bank of Singapore buys Malaysian investment firm to capture onshore wealth appeared first on Asian Private Banker.

Bank of China (Hong Kong) has announced the launch of its wealth management operations in Malaysia as it gears up to target the country’s HNWIs as part of its larger ASEAN ambitions. According to a press release issued by the bank, the new unit will offer Malaysian HNWIs one-stop cross-border wealth management services. Additionally, clients who bank with BOCHK in Hong […]

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Maybank Asset Management Group and Schroder Investment Management (Singapore) Ltd have entered into a “long-term” strategic partnership, according to a joint press statement. Badrul Hisyam, CEO of Maybank Asset Management commented that the collaboration intends to leverage on the Southeast Asian footprint of Maybank and global investment expertise of Schroders to facilitate the joint development of global “specialist” investment solutions catered […]

The post Maybank AM and Schroders ink strategic partnership targeting ASEAN HNWIs appeared first on Asian Private Banker.

Increasingly stringent regulatory requirements and reporting obligations are raising the costs of running private banks without necessarily minimising the risks associated with money laundering and tax evasion, according to a financial crime expert at Deloitte. A high level of privacy alongside large transactions means private clients often have to adhere to additional regulations — such as enhanced due diligence, ultimate […]

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The demand for simple digital applications from private banks is not being met, especially in the emerging ASEAN markets where investment product offerings tend to be basic, according to Singapore-based ‘wealthtech’ provider, New Wealth. “Clients truly appreciate the priority put on keeping things simple and ensuring high-quality client interaction,” said Loïc Pitrou, the firms CEO. “But this demand is not […]

The post EM demand for simple private banking apps “not fully tapped”: New Wealth appeared first on Asian Private Banker.

Bank of Singapore believes that the ASEAN region’s growth will be “less impressive” throughout the rest of the year due in part to diminished global trading activity. “The region is growing much faster than was expected at the start of the year as improved trade flows complement the supportive domestic policy environment,” the bank said in its latest investment note, […]

The post BoS: Southeast Asia’s growth will be “less impressive” over the rest of 2017 appeared first on Asian Private Banker.

In an effort to raise funds and encourage compliance, governments across Asia are considering or implementing tax amnesties. With Indonesia having wrapped up its amnesty programme in March – to mixed reviews – Asian Private Banker talks to Maxfield Brown, business intelligence associate at consulting firm Dezan Shira & Associates, about which other countries in the region are likely to […]

The post Focus shifts to Malaysia amid region’s tax amnesty wave, says consultancy appeared first on Asian Private Banker.

Amid the rapidly changing regulatory environment, financial institutions have become more reliant on machines than humans for their data processing needs, according to Thomson Reuters. 2016 was the first year that more firms processed Thomson Reuters’ data using machines rather than humans, said Sanjeev Chatrath, managing director, financial & risk, Asia Pacific, Thomson Reuters. At the end of March 2016, the […]

The post Financial institutions now more reliant on machines than humans for data processing: Thomson Reuters appeared first on Asian Private Banker.

Although Bank of Singapore’s head of equity research, Sean Quek, believes caution is warranted for ASEAN equities, the economic prospects remain bright for the region with a number of countries experiencing surges in the ease of doing business rankings. Challenging valuations and the risk of foreign selling due to a Fed rate hike has led Quek to stay cautious on […]

The post Bank of Singapore: Significant economic improvements in ASEAN region but remain cautious on equities appeared first on Asian Private Banker.

Private banking core software provider, Avaloq, has set its sights on ASEAN-based private banks, with a number of lenders in the region looking to expand upon their retail offerings to cater HNWIs, the Group’s deputy CEO tells Asian Private Banker. “We are seeing a significant increase in interest from banks in Malaysia and Thailand who are looking to break into […]

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Bank of China Hong Kong (BOCHK) has pinpointed private banking as a key strategic focus, and is in midst of a regional expansion drive that includes the acquisition of multiple ASEAN businesses from its parent company, Asian Private Banker can reveal. Since the first half of this year, BOCHK has been actively acquiring Bank of China’s (BOC) branch and sub-branch network in […]

The post BOCHK reveals regional transformation plan for private bank appeared first on Asian Private Banker.

Global leaders’ commitment to expanding fiscal measures at the recent Chengdu G20 meeting is undoubtedly a positive step towards growth, but UBP is of the view that “believing that expansionary fiscal policy alone can fix the current economic environment only works in augmented reality”. According to the Swiss private bank, expansionary fiscal policy tends to be more effective in economies where […]

The post UBP: Expansionary fiscal policies without structural reform and political will only work in “augmented reality” appeared first on Asian Private Banker.

Barclays’ former NRI head has resurfaced as the regional ASEAN and global non-resident Indian (NRI) head at a British rival. Srinivas “Srini” Siripurapu has joined Standard Chartered Private Bank, having exited Barclays in January. He follows Didier von Daeniken, Barclays’ former Asia head, who joined Standard Chartered in March this year as global private head. In his new role, Siripurapu will […]

The post Ex-Barclays regional head re-emerges at rival PB appeared first on Asian Private Banker.

In a bid to expand its footprint in the region, Standard Chartered Bank promotes one of its own to head of wealth management for ASEAN. Sumeet Bhambri is the new regional head of wealth management for the ASEAN countries which includes Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei and Cambodia. Bhambri replaces Chung Shaw Bee who has reportedly left the bank. […]

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The long-awaited Mutual Recognition of Funds (MRF) initiative has been given the green light and will be implemented from July 1. According to a joint announcement from the China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC), the implementation principals and the mode and operation of the MRF have been agreed. While full details are […]

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