The fruit of a collaborative effort between Credit Suisse and digital financial services provider Privé Technologies could well be a ‘game changer’ for Asia’s independent asset management industry, whose operational challenges — and AUM — mount by the day, representatives from both firms have told Asian Private Banker. The solution, soon to be released in Hong Kong and Singapore, builds […]

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Privé Technologies has acquired a Singapore-based startup in an effort to further differentiate its wealth management offering and has also appointed a new head of wealth management in a bid to boost its digitalisation efforts in the region. Established in 2016 with the goal of making HNW services accessible to a wider audience, Hive Up — now wholly owned by Privé […]

The post Privé Technologies strengthens WM offering via startup acquisition and hire appeared first on Asian Private Banker.

Demand for negative duration bond strategies within Asia’s discretionary mandates space is in on the rise amid a difficult year for traditional long-only bonds, according to asset management firm Aviva Investors, which expects a volatile coming 12 months for fixed income. “Given the constraints of a long-only mandate, DPM managers are unable to go short or negative duration, which actually […]

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There is still a long way to go before markets see significant capital inflow from Asia’s private banking clients into liquid alternatives, although rising volatility bodes well for the product class, according to Aviva Investors. “I believe Asian investors have to suffer much more pain before they start to see the benefits of downside protection solutions, such as multi-strategy or […]

The post Investors must “suffer much more pain” before markets see real liquid alts flow: Aviva appeared first on Asian Private Banker.

Independent asset management (IAM) tech specialist Privé Holdings has acquired a Singaporean fintech firm that specialises in providing an online marketplace for high net worth individuals, private banks and IAMs, according to a statement seen by Asian Private Banker. Privé Holdings has bought WEALTH in Asia for an undisclosed price, after investing in the company earlier this year. The acquisition […]

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Singapore-based fintech firm WEALTH, which is backed by independent asset management (IAM) tech specialist Prive Holdings, now works with at least three private banks, while it has also rolled out a new digital portfolio advisory solution for wealth managers. The firm is working with Bank of Singapore, DBS Private Bank and UBS, Charles Wong, Prive Managers’ co-founder and CEO said at […]

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Private banks need to diversify their asset acquisition strategies by adopting data-driven solutions, as relying solely on hiring more relationship managers is “not a sustainable solution”, 360F CEO Michael Gerber tells Asian Private Banker. “Solely hiring more relationship managers to compete is not a sustainable solution,” says Gerber, adding that private banks are under more pressure to grow their client […]

The post Hiring more RMs is not enough to compete over the long term, say tech providers appeared first on Asian Private Banker.

Privé Financial, the tech solutions provider for private banks and independent asset managers (IAMs), has joined a consortium of securities companies in China and is targeting mass affluent and high net worth clients with its digital platform. The joint venture agreement involves Hanhua Financial Holding, Jiangbeizui Group, Kingsway Financial and Chongqing Huiwei (a wholly-owned subsidiary of Hanhua). Each firm has […]

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Citi’s automated advice tool, Total Wealth Advisor (TWA), has been rolled out in South Korea, two months after it was first launched in Singapore. The American lender’s South Korea unit now has access to the wealth management advisory system but, unlike in Singapore, the TWA is only available to Citibank Korea’s relationship managers and portfolio counsellors to provide financial goal planning and investment services advice, […]

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Citi is using an external vendor to power its recently unveiled automated advice tool for HNW clients, Asian Private Banker can reveal. Citigold Private Client and Citi Private Bank, Citi’s wealth tiers that service clients with US$1 million or more in investable assets, contracted Hong Kong-based fintech provider, Privé Managers to build its Total Wealth Advisor tool. More specifically, the fintech has helped […]

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Citi has become the latest player to launch an automated advice tool. The proprietary tool, named Total Wealth Advisor, was first unveiled in Singapore and is currently only available to Citi’s private banking and Citigold clients. It aims to bring investment advice to clients digitally based on the individual’s profile. This is especially relevant to Asia’s growing pool of young […]

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After four years of high single digit growth, the total number relationship managers (RM) at Asia’s top 20 private banks in 2015 dropped 0.8% (or 40 persons) to 5,213.  But ask any private bank and they’ll tell you that they’re actively hiring. If this is indeed true, then last year’s decline – as marginal as it was – raises a […]

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KDB Daewoo Securities is turning to robo advisory services through its partnership with software solution provider, Privé Financial. The lender recently signed a memorandum of understanding with Privé Korea to use its model portfolio services at its headquarters in Hong Kong. There has been much debate about the emergence of robos and its place in an advisory-centric private banking industry […]

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As the market continues to witness an exodus of private bankers flocking to the external asset management (EAM) industry, one EAM product provider predicts that stronger technology platforms might see EAMs bypass private banks altogether. “[A] trend that I see is that EAMs will try to go directly to the product providers instead of using private banks as a platform […]

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This article first appeared in Issue 93 of Asian Private Banker’s monthly print magazine, published in the first week of November 2015. In an industry valued at US$15.5 billion and pegged to double in the next five years, external asset managers (EAMs) are beginning to gain critical mass in Asia. Unsurprisingly, clients are increasingly demanding efficient execution, privacy reassurances and portfolio […]

The post All roads lead to technology appeared first on Asian Private Banker.

In an industry that manages more than US$30 billion in assets – and pegged to double in the next five years – external asset managers (EAMs) are gaining critical mass in Asia due to three main reasons. Generally speaking, private bankers are beginning to realise that they can pocket a larger slice of the revenue pie, says Charles Wong,  CEO […]

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