In the early hours of the morning in Hong Kong, a wealth adviser found himself handling an unusual request from several clients — not about portfolio allocations or investment opportunities, but about arranging private jets out of the Middle East. The episode reflects a broader shift quietly unfolding as rising geopolitical tensions prompt wealthy Asians to reassess where their assets […]

The post Send the private jet — Asia’s rich weigh Dubai exit as regional risks mount appeared first on Asian Private Banker.

Hailing from Switzerland, he is fluent in six languages, had an academic stint in Japan, and defied convention by swiftly climbing the ranks in private banking after a successful 16-year career at an American consulting firm. In the first of a two-part interview series, Victor Aerni revealed his more personal side to Asian Private Banker. Aerni, the new Asia CEO […]

The post Consultancy whiz to CEO: Meet Victor Aerni, Pictet WM’s new Asia chief appeared first on Asian Private Banker.

In 2018 — the worst year for stocks in a decade — personal financial wealth in Asia grew by 7.1% to US$37.2 trillion, according to Boston Consulting Group’s Global Wealth 2019 report. By stark contrast, global personal wealth notched up by 1.6% to reach US$205.9 trillion in 2018, far lower than the 7.5% recorded the year prior, having suffered from […]

The post SG, HK cross-border assets may cross US$3.3T mark by 2023: BCG appeared first on Asian Private Banker.

A wholesale asset allocation shift of Indian investor portfolios, driven by recent policy reforms, has created long-term tailwinds for the industry to capitalise on greater risk-taking. How are foreign institutions capturing a share of the rapidly growing pie? Wholesale asset allocation shift: Real estate and gold to equities and alternatives Real estate and gold’s ubiquitous and prominent presence in Indian […]

The post Foreign banks capitalise on India’s wholesale asset allocation shift onshore appeared first on Asian Private Banker.

By offering clients exclusive access to a UK private school’s summer camp, a Chinese private bank raked in “a few hundred” new clients along with more than RMB 1 billion in new money, according to Tammy Tan, principal at Boston Consulting Group (BCG). In China, private banks differentiate themselves from their peers and their broader retail banking businesses by offering […]

The post Airport lounges and school camps: How Chinese private banks compete on value-added services appeared first on Asian Private Banker.

A leading private bank in China plans to launch a private fund of funds (FoF) offering next month, a person familiar with the matter has told Asian Private Banker. The source declined to name the bank, but said that the FoF will target equities. This would be the first such solution by a private bank in the country, an industry insider […]

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Hong Kong and Singapore are chipping away at Switzerland’s dominance in the offshore wealth market, according to a report by Boston Consulting Group, which says that the outlook for offshore banking remains positive despite a number of headwinds. “Hong Kong and Singapore remain the fastest-growing offshore centres globally because of both their status as the preferred booking centres for regional […]

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Chinese investors’ are expected to double their allocation to foreign assets by 2020 in line with a surge in HNW wealth over the same period, according to report jointly produced by Boston Consulting Group and Industrial Bank. Currently just 4.8% of investable wealth in China is allocated to foreign assets, but this figure to pegged to reach 9.4% by the […]

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This article first appeared in Issue 91 of Asian Private Banker’s monthly print magazine, published in the first week of September 2015. Private banking is now where investment banking used to be two decades ago, says the head of a global private bank over coffee with Asian Private Banker.  Then, investment banking grew very rapidly because of the tremendous need […]

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China’s private banking sector will enter a new era over the next five years as “the pace of financial reform picks up on the mainland and wealth management undergoes rapid development”, says a joint report from China’s Industrial Bank and the Boston Consulting Group (BCG). This ties in with the fact that the number of UHNWIs with over 100 million yuan […]

The post Mainland private banking to see key changes in next 5 years, says study appeared first on Asian Private Banker.

Asia Pacific excluding Japan, overtook Europe to become the world’s second wealthiest region with US$47 trillion in wealth in 2014, tagging behind North America with US$51 trillion in wealth according to the latest Boston Consulting Group’s annual global wealth report. Asia Pacific saw a 29% growth in private wealth in 2014 – up from 27% in the previous year. The […]

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