Offshore assets booked in Hong Kong and Singapore increased by 10% in 2015 – more than any other major offshore centre – with both cities pegged to increase their share of offshore assets by an average annual growth rate of 10% between now and 2020, according to Boston Consulting Group’s latest Global Wealth report.  Overall, private wealth booked in offshore […]

The post Hong Kong, Singapore share of global offshore assets to reach 23% by 2020 appeared first on Asian Private Banker.

HSBC will close its private banking branch in Ireland. It has currently ceased to take on any new clients or businesses and will close its Dublin office on October 19 this year. The closure of its Dublin unit comes close on the heels of HSBC’s recent US$140 million sale of its portfolio of private banking client accounts in Monaco to […]

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British lender Barclays has set its sights on the Japanese market, home to an estimated US$2 trillion of UHNW wealth. According to Cedric Lizin, head of business in Japan for Barclay’s wealth and investment division, inorganic growth is the key to success in this market but unlike his peers, Lizin favours a deal with an established local player over a […]

The post Barclays targets Japan; aims to be market leader appeared first on Asian Private Banker.

When Stuart Gulliver, newly crowned chief executive of HSBC Plc, appointed The Boston Consultancy Group (BCG) for a strategic review of the bank, few thought more of the move than a new leader eager to make his mark. Indeed, Gulliver was not alone in thinking the bank would benefit from the fresh and entirely objective perspective of external consultants – […]

The post Gulliver’s travails: Why cutting costs and building efficiencies is not helping HSBC Private Bank appeared first on Asian Private Banker.