China’s crackdown on offshore brokerages will see wealthy Chinese families increasingly resort to alternative channels, such as e-commerce, to move wealth offshore, Justin Choy, chief investment officer and responsible officer at Youxfort Family Office, told Asian Private Banker. “Currently, for Chinese high net worth individuals, the most difficult challenge is figuring out how to move their wealth outside of mainland […]

The post How China’s UHNWs are navigating capital controls amid brokerage crackdown appeared first on Asian Private Banker.

Mainland China’s private banking sector has scaled an unprecedented new peak, with aggregate assets under management (AUM) for the top 20 players climbing 13% year-on-year to reach RMB 29.7 trillion (US$4.4 trillion) in 2025. According to Asian Private Banker’s latest China League Tables, this asset surge coincides with a historic expansion of the country’s high net worth (HNW) demographic, which […]

The post China 2025 AUM League Tables: Top 20 hit US$4.4tn as HNW client count crosses 2mn appeared first on Asian Private Banker.

China’s private banking AUM crosses RMB 29 trillion Two-speed market reshapes the growth narrative China’s private banking assets under management (AUM) reached another historic high in 2025, driven by an average growth rate of 13%. The latest rankings highlight a market splitting into two speeds, with national titans maintaining their scale and regional powerhouses rewriting the playbook with aggressive expansion […]

The post AUM Tables China 2025 appeared first on Asian Private Banker.

Chinese mainland customers can still open bank accounts in Hong Kong “smoothly” as lenders implement new regulatory requirements, the Hong Kong Monetary Authority (HKMA) said on Saturday. “The banking industry has implemented the new regulatory requirements set out in the HKMA circular to ensure the account opening process is compliant and orderly,” a spokesperson for the HKMA said. “Chinese mainland […]

The post HKMA: Mainland account openings in Hong Kong unaffected by new rules appeared first on Asian Private Banker.

A massive intergenerational wealth transfer in China is fundamentally altering the wealth-planning landscape, as globally educated, next-gen heirs increasingly bypass traditional family generalists in favour of institutional-grade, specialised advisors, according to Union Bancaire Privée (UBP). Previously, Chinese clients were guarded, often gathering fragmented information from different sources for wealth planning in the past, observed Nelson Hon, senior wealth planner for North […]

The post China’s next-gen heirs driving shift to specialised advisors, says UBP appeared first on Asian Private Banker.

Union Bancaire Privée (UBP) more than doubled its net new money (NNM) in North Asia for 2025 while capturing surging brokerage and wealth planning revenues, North Asia region head and Hong Kong CEO Teresa Lee told Asian Private Banker. Revenue for the North Asia business grew nearly 15% yoy in Swiss franc terms, driven by brokerage fees — which accounted […]

The post UBP doubles North Asia NNM as brokerage and wealth planning surge appeared first on Asian Private Banker.

Mainland China’s wealthy investors are recalibrating their global market exposure and becoming increasingly selective regarding hedge fund strategies amid volatility, Chinese private bankers told Asian Private Banker. Despite expectations that the US$7 trillion in maturing mainland time deposits would trigger a massive shift into higher-yield investment products, senior Chinese private banking executives said that this wall of liquidity remains sidelined […]

The post China’s private banking clients pivot to hedge funds amid volatility appeared first on Asian Private Banker.

In the summer of 2015, as the benchmark Shanghai Composite Index surged 60% in a liquidity-fuelled “junk rally,” Anthony Wong found himself in a rare position for a long-only fund manager: he was lagging behind. Wong was referring to the 2015 A-share frenzy, when RMB 2.2 trillion (US$354 billion) in margin debt with brokerages fuelled a 150% market surge in […]

The post US$6bn hedge fund eyes private bank alliances appeared first on Asian Private Banker.

As women assume central roles in family wealth succession in China, HSBC Private Bank is sharpening its focus on this strategic client base, which has traditionally been underserved by the wealth industry. “These women are not passive beneficiaries; they are active decision-makers who demand clarity, structure, and real-world execution,” said Edith Wong, head of the southern region for the private […]

The post HSBC PB bets on women as key drivers of family wealth in China appeared first on Asian Private Banker.

Since geopolitical escalations began in late February, client meeting volume at J.P. Morgan Private Bank has surged. However, the tone of these conversations has shifted significantly compared to the panic during last year’s Liberation Day, according to Yuxuan Tang, the US bank’s Asia head of rates and FX strategy. “Clients are relatively calm this time around. We don’t really see […]

The post “Our view is a bit contrarian”: J.P. Morgan PB sticks to China bet through mounting Middle East tension appeared first on Asian Private Banker.

China’s wealth management industry is slowly pivoting from a long-standing obsession with individual products to the top-down advisory models standard in global hubs. HSBC’s 2022 launch of a dedicated China chief investment office (CIO) remains a rare outlier in a market only beginning to embrace the advisory-led approach. The onshore CIO office was designed to move beyond “back-end research” toward […]

The post HSBC built a China CIO in 2022 — now it’s driving the advisory shift appeared first on Asian Private Banker.

This is a sponsored advertorial from Federated Hermes. The Asia ex-Japan region offers diverse macro opportunities, with valuation dispersions and structural growth shaping an attractive investment landscape. Asia ex-Japan is a region of contrasts: deep value in some markets, structural growth in others, and a wide dispersion of winners and losers. For the Federated Hermes Asia ex-Japan team, this complexity […]

The post Beyond the headlines: Where Federated Hermes sees real opportunity in the Asia ex-Japan region appeared first on Asian Private Banker.

The Asian Private Banker team was in Shanghai last week to celebrate the winners of the 2025 China Wealth Awards — recognising the firms and individuals who have gone the extra mile to deliver thoughtful, responsible wealth management solutions, and create meaningful value for China’s most affluent individuals, families and their businesses. Among the winners, Agricultural Bank of China Private […]

The post Bottom Line: China’s wealth boom enters a more demanding phase appeared first on Asian Private Banker.

Asian Private Banker successfully hosted the China Wealth Awards 2025 gala dinner in Shanghai on Thursday, gathering the brightest minds in China’s private banking and wealth management industry. Against a glittering backdrop, the event brought together about 140 industry leaders and offered high-level networking, insightful discussion, and formal recognition of industry-leading excellence. Beyond celebrating individual and institutional success, the gala […]

The post APB’s 8th China Wealth Awards brings together industry leaders in Shanghai appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) is shunning the branch-opening race in Mainland China, betting instead that a double-digit net hiring blitz in Hong Kong and its “One Bank” approach will better capture expanding private wealth in the Greater Bay Area (GBA). Over the past three years, UBS GWM’s China international business, headed by Marina Lui, has grown AUM by […]

The post UBS GWM China AUM up 50%, eyes double-digit hires appeared first on Asian Private Banker.

As US valuations reach “rich” territory, Asian private banking clients are making a tactical rotation back to China. With US$7 trillion in mainland time deposits set to expire this year, wealth managers are bracing for a wall of liquidity that could cement China’s “new economy” as the primary performance engine for regional portfolios, asset managers told Asian Private Banker. “2025 […]

The post China’s “new economy” draws wealth clients away from US tech appeared first on Asian Private Banker.

Goldman Sachs has identified China, Korea, and India as its premier regional selections for 2026, maintaining a constructive outlook on Asian equities following a period of robust performance. “We think that last year was a really important crossroad for equities, because it marks a major change in some of the drivers,” said Peter Oppenheimer, chief global equity strategist at Goldman […]

The post Goldman Sachs backs China, Korea, India as global equities hit “important crossroads” appeared first on Asian Private Banker.

This is a sponsored advertorial from PineBridge Investments. By Omar Slim and Andy Suen, Co-heads of Asia Fixed Income Key Takeaways Asia’s economy surprised to the upside in 2025. Despite tariff pressures and global uncertainty, the region demonstrated resilience that few anticipated. Exporters accelerated shipments ahead of tariff deadlines, exemptions in the second half of the year eased the impact, […]

The post 2026 Asia fixed income outlook: Tested again. Resilient again.  appeared first on Asian Private Banker.

After riding the AI growth wave of 2025, Julius Baer is eyeing broader opportunities in China, hoping that the country’s next policy moves will provide longer-term fixes to consumer and property sectors. “It’s not an overstatement to mention that it was a tech-led rally in China in 2025. I think 2026 would be more balanced,” Richard Tang, China strategist and […]

The post Julius Baer pivots China strategy to robotics and policy bets appeared first on Asian Private Banker.

Asian Private Banker has officially opened submissions for the eighth China Wealth Awards (CWA) 2025, recognising excellence in serving China’s ultra and high net worth individuals, their families, and their businesses. This year’s programme has been refreshed to reflect China’s fast-moving wealth management landscape, shaped by an AI-fuelled equity rally, a recovering IPO market, regulatory shifts, evolving client investment appetite, […]

The post APB 8th China Wealth Awards opens for submissions appeared first on Asian Private Banker.

This is a sponsored advertorial from CICC. On 31 October 2025, China International Capital Corporation (CICC) successfully held the CICC 2025 Dubai Wealth Management Forum in Dubai, the United Arab Emirates. Centred on the theme “Invest in China, Invest in Future,” the forum brought together over 200 distinguished guests from various sectors to engage in in-depth discussions on key topics […]

The post CICC 2025 Dubai Wealth Management Forum successfully held appeared first on Asian Private Banker.

Lazard Asset Management (Lazard AM) is targeting wealthy individuals in Southeast Asia and China through local partnerships over a direct distribution model, believing this strategy will enable it to reach a broader client base looking for global diversification. But can the US asset manager’s quant strategies cut through to the region’s private wealth investors? While Lazard AM was historically known […]

The post US$265bn manager bets on local tie-ups to crack SEA, China HNW markets appeared first on Asian Private Banker.

If there is one wealth market that warrants greater attention, it is China’s. The nation of 1.4 billion people currently has a total wealth of roughly US$91 trillion, making it the world’s second-largest holder of total household wealth after the United States, which maintains around US$163 trillion. The country’s ultra-wealthy, or the top 10%, alone make up nearly 68% of […]

The post APB Summit 2025: Standard Chartered, BNP Paribas on China’s changing investor risk appetite appeared first on Asian Private Banker.

Singaporean independent wealth manager WRISE has expanded its presence with the opening of a new office in an inland Chinese city. WRISE Academy, an initiative under the firm’s affluent segment, WRISE Prestige, has been launched in Changsha, the capital of Hunan Province, according to a statement on Thursday. This is WRISE Academy’s second location following the launch of its Shenzhen […]

The post Singapore IAM WRISE ventures into inland China with new office launch appeared first on Asian Private Banker.

The thorny issue of succession planning has been thrust into the spotlight for wealthy Chinese families as China expands its enforcement of global income tax and a family dispute much-discussed on the Chinese internet raises important questions for dual-jurisdiction trust structures. China’s crackdown and enforcement of global income tax began last year by targeting the ultra rich and has, in […]

The post Wahaha Case and tax crackdown shine spotlight on China’s family trusts appeared first on Asian Private Banker.

Shanghai Pudong Development Bank (SPD Bank) has launched a global wealth management platform in Hong Kong as part of its internationalisation strategy, providing cross-border investment, asset allocation and wealth succession services. Under the joint efforts of SPD Bank Hong Kong, SPDB International, and Shanghai Trust, the SPDB Global Wealth Management Platform focuses on “family wealth, family lineage, and family business,” […]

The post SPD Bank launches wealth management platform in Hong Kong appeared first on Asian Private Banker.

M&G Investments (M&G) has signed a strategic collaboration agreement with China Guotai Haitong Securities to expand Chinese investors’ access to global markets. The US$394 billion fund manager will combine its global investment expertise with Guotai Haitong Securities’ position in China to deliver investment opportunities for Chinese investors and drive growth for both firms in the rapidly evolving wealth management sector, […]

The post M&G teams up with Chinese securities giant to tap onshore boom appeared first on Asian Private Banker.

China’s newly launched stewardship code is expected to transform how mutual fund managers engage with listed companies, introducing greater transparency across the investment landscape. Flora Wang, head of stewardship, Asia, at Fidelity International, describes the code as a landmark development. For the first time, local mutual funds are not only required to vote their shares but also publicly disclose the rationale […]

The post ESG 2.0 – What China’s new stewardship code means for fund managers appeared first on Asian Private Banker.

The onshore China private banking market has proven a tough one to crack for international firms, with many believing the juice just isn’t worth the squeeze. However, HSBC, tempted by a wealth market simply too big to ignore, has made no secret of its efforts over the past three years to expand its services into the mainland market. Having now […]

The post HSBC GPB is “now a dominant wealth player” in onshore China: Jackie Mau appeared first on Asian Private Banker.

The Bank of East Asia Private Banking (BEA PB) is stepping up its cross-border wealth strategy through deeper onshore engagement, a revised client referral scheme for mainland China relationship managers (RMs), and expanded partnerships in the external asset management (EAM) space. The bank also plans to grow its regional RM team by 20%. “We try to hit one major Chinese […]

The post BEA PB shifts into higher gear on mainland drive, eyes 20% RM growth appeared first on Asian Private Banker.

Amid growing global uncertainty and trade tensions, T. Rowe Price is taking a different view. Instead of pushing clients to invest, they’re keeping more cash on hand to stay flexible and ready for market swings. “We remain overweight to cash and cash equivalents, as [cash] provides attractive yields and liquidity to try to take advantage of market opportunities amid expected […]

The post Cash is flash? US$1.62tn manager stays liquid to pounce on volatility appeared first on Asian Private Banker.

After strong double-digit growth in BNP Paribas Wealth Management’s Hong Kong business in 2024, Lemuel Lee looks to expand operations across China as the firm makes “decoding the China wealth mosaic” a top priority for 2025. With steady growth in early 2025, APB Rising Star of the Year Lee is aiming to replicate the success of last year. The first […]

The post “We are going big on China”: Lemuel Lee unpacks BNP Paribas WM’s new strategy appeared first on Asian Private Banker.

China’s ultra-wealthy families are expanding their businesses globally amid rising market volatility, while placing greater emphasis on family governance to ensure smooth wealth transfer to the next generation. That is according to leading private wealth advisors at Asian Private Banker’s inaugural China Global Wealth Summit, which was attended by about 500 high-profile delegates. Entrepreneurial families in the world’s second-largest economy […]

The post APB CGWS: Global ambitions and governance drive China’s wealthy appeared first on Asian Private Banker.

Asian Private Banker brought the China Global Wealth Summit to life in Hong Kong on Wednesday, drawing about 500 delegates for a dynamic day of high-level discussion, bold ideas, and cross-border networking. Marking its inaugural edition, the summit focused on how the wealth management industry in Greater China is transforming to serve the complex offshore investment and lifestyle needs of […]

The post APB draws 500 delegates to first China Global Wealth Summit appeared first on Asian Private Banker.

China has unleashed new monetary measures designed to support its economy amid its trade skirmish with US President Donald Trump, but private banks in Asia are unconvinced it will be enough to add sustained momentum to local markets. Key measures announced by Beijing this week included a policy rate cut of 10 basis points; a re-lending and pledged supplementary lending […]

The post China unleashes new monetary bazooka – but private banks want more appeared first on Asian Private Banker.

Asian Private Banker held the China Wealth Awards 2024 gala dinner last night in Shanghai to great success, bringing together the brightest minds in private banking and wealth management. The glittering event was marked by a vibrant atmosphere, with industry leaders and innovators celebrating the achievements of the top performers in China’s flourishing wealth management landscape. Attendees enjoyed an evening […]

The post APB hosts gala dinner for 7th China Wealth Awards in Shanghai appeared first on Asian Private Banker.

China is tightening the rules on how private funds can be distributed through the country’s commercial and private banks, erecting barriers for foreign asset managers looking to tap private wealth in the world’s second-largest economy. The National Financial Regulatory Administration issued the long-anticipated measures in late March, with the new rules set to come into effect in October this year. […]

The post China tightens rules on private fund distribution. Here’s what it means appeared first on Asian Private Banker.

HSBC has opened a new wealth centre in an affluent mainland Chinese city as the bank seeks to capture the rising demand for wealth management in the world’s second-largest economy. The new centre is located in Hangzhou and serves as a wealth management hub for its host city and surrounding areas, according to a statement from the bank on Tuesday. […]

The post HSBC continues spree of wealth centre launches in mainland China appeared first on Asian Private Banker.

M&G Investments (M&G) has launched a new China equity fund, seeking to capture long-term opportunities and renewed private wealth interest in the world’s second largest economy. The M&G China Fund’s targets around 300 Chinese stocks via bottom-up research coverage. It is structured as a sub-fund of a UCITS Luxembourg SICAV, and will be available to institutional and wholesale investors in Europe, […]

The post US$395bn asset manager launches fund to tap China opportunity appeared first on Asian Private Banker.

After a blistering rally driven by domestic breakthroughs in artificial intelligence (AI) and the rehabilitation of Jack Ma, private banks are becoming increasingly bullish on Chinese stocks following one of the country’s most important political gatherings. China’s Two Sessions, which closed on Tuesday, appeared to further cement a business-friendly policy pivot towards technological innovation, consumption revival and private sector development. […]

The post Two Sessions, one rally: Private banks eye more policy-driven gains in China 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 The surprise emergence of a lower-cost artificial intelligence (AI) model has helped re-energise Chinese equity markets that had spent the […]

The post Bottom Line: The Jack Ma rally may just be getting started appeared first on Asian Private Banker.

The re-emergence of Jack Ma in a public forum with Chinese president Xi Jinping could signal the return of animal spirits to the country’s markets and the end of a regulatory crackdown cycle. That is according to private bank CIOs, who believe that the country’s hosting of a rare private sector symposium on Monday featuring the country’s most prominent entrepreneurs […]

The post Jack is back: Why China’s markets are roaring back to life appeared first on Asian Private Banker.

From China’s property crisis to stubbornly high US interest rates, emerging markets debt has been a tough sell to Asian private banks and their clients in recent years. They also now face the return of ‘tariff man’ Donald Trump as US president. However, there remain reasons to be optimistic. The likelihood that US interest rates should continue to fall should […]

The post Can unloved emerging markets weather Trump storm and stage comeback? appeared first on Asian Private Banker.

Asian Private Banker’s 7th China Wealth Awards 2024 is now open for submissions. The China Wealth Awards honour the firms that go above and beyond to responsibly deliver compelling wealth management solutions to China’s U/HNWIs and their families and businesses. The Awards are open to banks with an onshore China operation that have dedicated private banking facilities, as well as […]

The post APB 7th China Wealth Awards opens for submissions appeared first on Asian Private Banker.

From hiring sprees to restructurings, from alternatives momentum to intermediary disruption, to India, China and Trump, Asian Private Banker highlights the top trends that dominated the world of private banking in Asia in 2024. Hiring: Selective hiring sprees  While 2024 was characterised by organisational restructurings, leadership reshuffles, and heavyweight departures, private banks still saw room to grow in terms of relationship […]

The post That’s a wrap: The Asia private banking trends that dominated 2024 appeared first on Asian Private Banker.

Hong Kong’s capital markets showed some positive signs of recovery in 2024, according to a recent report by the city’s securities regulator, the Securities and Futures Commission (SFC), which pointed to an increased use of cross-boundary schemes as a major driving factor. Positive highlights include how Hong Kong’s capital markets have benefitted from the Connect schemes, breakthroughs in Middle East […]

The post Is the Hong Kong market back? SFC report reveals driving forces for 2025 appeared first on Asian Private Banker.

Legal complications are becoming more common for divorce and wealth and estate planning matters among U/HNWIs in Hong Kong and mainland China, as the two regions draw ever nearer, legal experts told Asian Private Banker. “The difference in divorce laws between mainland China and Hong Kong is not new, but as wealth has increased so much and people have assets and […]

The post Closer Hong Kong-mainland China ties complicating U/HNW succession planning appeared first on Asian Private Banker.

China lost nearly 100 billionaires in 2024 as the country went from supercharging global wealth creation to diluting it, according to a recent UBS report. Meanwhile, the number of APAC billionaires dropped below 1,000 as wealth growth flattened. Mainland China had 427 billionaires in 2024, down from 520 in 2023. While it minted 42 new billionaires this year, China also […]

The post APAC billionaire wealth flattens as China loses nearly 100 billionaires – UBS report appeared first on Asian Private Banker.

Asian Private Banker was thrilled to unveil the winners of our Asset Management Awards for Excellence 2025 this month. You can read more about who won what by clicking here. Markets were again choppy this year. Many of the most notable bouts of volatility occurred in late summer, including the unwinding of the yen carry trade, the artificial intelligence sell-off, […]

The post Five things we learned from AMA 2025 appeared first on Asian Private Banker.

China’s tax authorities are putting more scrutiny on the offshore income of ultra/high net worth individuals (U/HNWIs), according to legal experts, in a move that could have ramifications for private bankers in key global wealth hubs. While laws are already in place requiring Chinese citizens to declare and pay tax on overseas income, such laws were rarely enforced until now, […]

The post China is now enforcing offshore income tax. Should private bankers be worried? appeared first on Asian Private Banker.

China’s 3Q24 GDP growth rate beat market expectations following the announcement of fresh government stimulus, eking closer to Beijing’s 5% target for the year. Although giving room for optimism, asset managers still hold out for more long-term support. 3Q24 GDP growth of the world’s second-largest economy slowed to 4.6% YoY from 4.7% in the previous quarter, narrowly beating the market […]

The post China’s economy slows again as private banks wait on fiscal bazooka appeared first on Asian Private Banker.

With fresh government stimulus helping draw inflows into the China market, independent wealth managers and multi-family offices in Singapore and Hong Kong highlighted the best ways to play the rally in Asia’s largest economy. “Earlier this year, our clients strategically reduced their exposure to the China and Hong Kong markets during the rally in April / May and have since […]

The post Asia’s bullish MFOs on how to play the China rally appeared first on Asian Private Banker.

On Tuesday, China’s authorities unveiled a package of measures to boost market sentiment as Asia’s largest economy continues to struggle with weak domestic demand and a drawn-out property market slump. Used to a cautious Beijing, private bank analysts were surprised with the extent of this latest round of measures. However, they still believe the package falls short of the stimulus […]

The post Private banks: Beijing’s stimulus package more aggressive than expected, but still falls short appeared first on Asian Private Banker.

Pictet Asset Management (Pictet AM) has launched its second qualified domestic limited partnership (QDLP) product for qualified investors in China. The fund is a global investment grade (IG) credit strategy which focuses on investing in corporate bonds issued by companies with strong financial and sustainability credentials, predominantly in the US and Europe, including but not limited to ESG-labelled bonds, the […]

The post Pictet AM launches global IG credit fund for onshore Chinese U/HNWIs appeared first on Asian Private Banker.

Amid ongoing economic uncertainty in China, single-family offices (SFOs) in the Gulf Cooperation Council (GCC) are holding back on new investments, opting instead to retain their current positions. “We are long-term investors and do not expect a near-term resolution to China’s structural issues,” said Harsh Jain, chief investment officer (CIO) of a Dubai-based SFO, in an interview with Asian Private […]

The post GCC single-family offices pause China investments amid economic concerns appeared first on Asian Private Banker.

Chinese wealth manager Noah Holdings has rebranded its international offering. Meanwhile, Hong Kong’s DL Holdings is in talks to acquire a Singaporean wealth manager as wealth management firms serving wealthy Chinese continue to follow the flow of wealth to overseas markets. Noah Holdings, which expanded its Hong Kong office in July, unveiled a new brand name for international markets earlier […]

The post Sailing overseas – Noah rebrands int’l business; DL Holdings in talks to acquire SG-based wealth manager appeared first on Asian Private Banker.

China has started a criminal investigation into troubled wealth manager Hywin Wealth for alleged illegal fundraising activities and has taken ‘formal mandatory measures’ against several suspects, including individuals understood to be among the company’s top ownership, Chinese authorities said in a statement on Wednesday. Although authorities have not precisely outlined what specific action has been taken against the individuals, in […]

The post Chinese police probe wealth manager Hywin Wealth for illegal fundraising appeared first on Asian Private Banker.

Pictet Asset Management (Pictet AM) believes China is signalling its intention to enhance cross-border fund distribution channels. Combined with rising Chinese demand for global exposure and an underperforming domestic market, the Swiss firm is betting on continued growth in this area. Pictet AM has already built out cross-border distribution channels through the plethora of government schemes, including Qualified Domestic Institutional […]

The post Pictet AM betting on regulatory tailwinds to enhance mainland China distribution appeared first on Asian Private Banker.

Chinese banks have seen a strong start to 2024 in terms of AUM growth. When it comes to fees, however, it is another story. The wealth management units of Chinese banks have been hit with the compounded misfortune of regulatory-driven fee caps and poor returns on wealth management products, leading to further fee cuts to retain clients in an intensely […]

The post China’s private banks enjoy AUM bounce. But where is the fee growth? appeared first on Asian Private Banker.

As China’s stock market continues to underperform in 2024, private bank J. Safra Sarasin believes investors should not get their hopes up for the rest of the year. Having started the year at a low point, and despite improving in the summer, China’s CSI 300 index began to sink again in the third quarter. Over the past year, the benchmark […]

The post CIO Insight: Why you shouldn’t buy the China dip – J. Safra Sarasin appeared first on Asian Private Banker.

China’s property market has been one of the biggest victims in the country’s ongoing economic downturn, with turmoil in the sector reverberating across the bond markets and wealth management sector. But could China’s real estate winter be over? One Shanghai luxury residential property has emerged as a bright spot, with wealthy individuals rushing to snap up units in the development […]

The post Is China property back? Rich buyers snap up Shanghai luxury project on day one appeared first on Asian Private Banker.

Amid ongoing property market deleveraging and weak consumer sentiment, investment manager Ninety One is looking to identify mispriced opportunities in China using a strategy that combines both machine and human intelligence, Wenchang Ma told Asian Private Banker. According to Ma, co-portfolio manager of the US$433 million All China Equity Strategy, the approach is especially efficient in navigating large markets like […]

The post US$162bn manager is decoding China mispricings with AI appeared first on Asian Private Banker.

As one of China’s largest securities firms, CITIC Securities is betting on its specialised entrepreneurial client team to capture major shareholding clients in Hong Kong for its wealth management services. CITIC Securities’ Hong Kong entrepreneur office, which launched in November 2023, has rapidly grown into a team of more than a dozen professionals, according to its head Addie Chen. “The […]

The post “High speed growth”: Top Chinese securities firm eyes Hong Kong’s entrepreneurs appeared first on Asian Private Banker.

China will profit more from the artificial intelligence (AI) boom than the US in the long term, the global CIO of one of the world’s top asset managers believes, as the dominance of the so-called Magnificent Seven eventually fades. This is due to China’s leadership in AI patents and higher investment and awareness in these technologies, according to Bjoern Jesch, […]

The post China to outpace US in AI profits: US$1tn global CIO appeared first on Asian Private Banker.

Major Chinese securities house, Hong Kong-listed GF Securities (the Group), has been developing its business into a wealth and asset management-heavy revenue model to become less reliant on the IPO market. Supported by its multi-asset managers, including recently acquired Hong Kong manager Value Partners, the firm plans to continue focusing on investment solutions and the mass affluent segment. “Asset management […]

The post From IPOs to wealth: GF Securities targeting mass affluent segment in wealth push appeared first on Asian Private Banker.

Against a backdrop of a shrinking IPO market in Hong Kong and tightening AML policies for new family offices and IAMs in Singapore, wealth owners in Asia are eyeing the Middle East as an attractive destination for fundraising and booking assets. At the same time, rocketing trade and investment ties, particularly between the United Arab Emirates (UAE) and its leading […]

The post What ballooning China-UAE trade means for private bankers appeared first on Asian Private Banker.

US asset managers BlackRock and Neuberger Berman have undergone leadership changes in their onshore China teams, according to company filings. US$481 billion in AUM Neuberger Berman‘s mutual fund subsidiary in China recently lost two MDs: vice CEO Peter Ru Ping (汝平) and senior portfolio manager Zhou Ping (周平). Ru joined the firm in 2017. Based in Shanghai, he was responsible […]

The post BlackRock, Neuberger Berman see leadership changes in onshore China appeared first on Asian Private Banker.

China’s nearly RMB 20 trillion (US$2.76 trillion) private fund industry is facing challenges on multiple fronts, from fundraising to regulatory scrutiny. This environment is causing some private funds, including hedge funds, to target the offshore private wealth market for AUM and client growth, multiple industry experts told Asian Private Banker. “For onshore China, we mainly manage U/HNWIs’ pools of money, […]

The post China’s US$2.8tn private funds market eyes offshore wealth appeared first on Asian Private Banker.

Chinese wealth manager Noah Holdings is expanding its Hong Kong office as a mark of confidence in its business in the city, despite reporting a drop in revenue earlier this year. In addition, the firm is also considering offshore collaborations with external asset managers (EAMs) in the region and plans to rebrand its offshore business later this year, the firm […]

The post “You’re going to need a bigger boat”: Noah expands Hong Kong hub in offshore push appeared first on Asian Private Banker.

Since 2020, President Xi Jinping’s strategy of reducing wealth inequality, known as ‘common prosperity’ (共同富裕), has been central to reaching China’s next stage of development. The consequences for private banking in Asia’s largest economy are now becoming clear. During a recent trip to Beijing and Shanghai, Asian Private Banker spoke to almost 20 Chinese firms about how they plan to […]

The post Common prosperity is leading to “de-private banking” in China appeared first on Asian Private Banker.

Private banks and asset managers are questioning whether China can meet its GDP growth target of “around 5%” for 2024, after new data showed a marked deceleration in household spending and a continued downturn in the property market. According to official 2Q24 data released on Monday, annualised GDP grew at 4.7%, down from 5.3% YoY. The result fell far short […]

The post “Not good…”: Private banks and fund managers downbeat on Q2 China data appeared first on Asian Private Banker.

Net fund inflows into Hong Kong’s private banking and wealth management industry more than tripled in 2023, representing a significant bounce back for the industry. However, they remain well below pre-pandemic levels. This is according to official data published by financial secretary Paul Chan in a blog post on Sunday. The data show net fund inflows into Hong Kong’s private […]

The post Hong Kong enjoys US$50bn private wealth bonanza in 2023 appeared first on Asian Private Banker.

Anticipating currency volatility, Lombard Odier believes market pullbacks in Japan could provide compelling opportunities for investors. Meanwhile, the Chinese yuan looks to further depreciate against the dollar as authorities play a difficult game of balancing stimulus and leverage. John Woods, the Swiss bank’s CIO and head of investment solutions for Asia, told Asian Private Banker in a recent interview that […]

The post CIO Insight: Lombard Odier’s playbook for currency volatility in Asia appeared first on Asian Private Banker.

China’s Industrial Bank (CIB) has hired a veteran banker from Ping An Bank (PAB) to lead its RMB 850 billion (US$117 billion) private banking business, Asian Private Banker has learnt. Hong Shuai has been appointed as the general manager for CIB Private Banking, subject to regulatory approval, according to people familiar with the matter. Hong’s banking career with PAB spans two […]

The post Industrial Bank hires Ping An Bank veteran to lead PB business appeared first on Asian Private Banker.

Shanghai-based Hywin Holdings (Hywin) is to exit from the wealth and asset management business, switch its focus to the technology sector and change its name as part of a new strategic business transformation plan, the firm said in a recent announcement. Hywin will completely exit its wealth management and asset management businesses by terminating all contractual arrangements with Hywin Wealth […]

The post Hywin exits US$1.2bn wealth management business appeared first on Asian Private Banker.

A Chinese securities house has launched a wealth management business and hired an ex-Credit Suisse Securities executive to lead the new venture. In late June, Gaohua Securities (Gaohua) announced to Chinese media that it is launching a wealth management business. Wang Jing, the former CEO of Credit Suisse Securities (China) Limited (CSSCL), has been appointed to lead the new venture. […]

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Hong Kong’s latest efforts to lure more mainland Chinese wealth to the city are slowly gaining traction, but private banks believe that more still needs to be done with much of this money making its way into deposits and low-yielding products. In its push attract more U/HNWIs from mainland China to invest in Hong Kong, the city’s government has recently […]

The post Hong Kong welcomes wave of mainland wealth … into deposits appeared first on Asian Private Banker.

U/HNWs in the Hong Kong and mainland Chinese markets are increasing their risk appetite, according to fund managers in both jurisdictions. But that does not necessarily mean they are investing in the same products. Onshore Chinese investors are generally more risk averse and are gravitating towards money market funds, fixed deposits and fixed income products. Offshore Chinese investors, on the […]

The post Onshore vs offshore: Which Chinese investors are taking more risk? appeared first on Asian Private Banker.

Despite the long-term structural challenges plaguing Asia’s largest economy, UBS Global Wealth Management’s chief investment office (UBS GWM CIO) believes the recent rally in Chinese equities still has some way to go. Adrian Zuercher, head of global asset allocation & co-head of global investment management APAC at the firm, believes there will be more “holding on” or long-term allocations to […]

The post China rally still has some way to go as long-term capital returns – UBS GWM appeared first on Asian Private Banker.

Pressure is mounting on Hywin Wealth Management (Hywin), one of China’s most prominent wealth managers, amid a collapse in its share price and a damning report by the country’s state media. The Shanghai-based company, whose share price has fallen more than 90% over the last 12 months, has been hit by the slump in China’s property market that left Hywin […]

The post Pressure mounts on China’s Hywin Wealth as share price crumbles appeared first on Asian Private Banker.

Chinese wealth manager Noah Holdings (Noah) saw its revenue fall by 19.2% YoY in 1Q24, as the New York- and Hong Kong-listed group suffered a drop in fees from its products. The fall in revenue to RMB 649.5 million (US$90 million) for the quarter was mainly due to decreases in performance-based income generated from USD private equity products and recurring […]

The post Noah’s revenue falls 19.2% as fees from products decrease appeared first on Asian Private Banker.

While many private bank CIOs have flagged the potential of surging Japanese equities over the last couple of years, there is perhaps one lesser-known opportunity they have not yet pounced on. That is according to one well-known hedge fund, which zeroed in on Hello Kitty as the next big thing when it comes to tapping in to the Japan rally, […]

The post Is Hello Kitty the best way to tap Japan rally? This hedge fund thinks so appeared first on Asian Private Banker.

Having now established itself onshore in China with a three-pronged business of asset management, wealth management and securities, BNP Paribas faces fierce competition from established local institutions and risk-off sentiment among investors. While many firms still deem onshore China more trouble than it is worth, the CEO of the French bank’s wealth management joint venture with Agricultural Bank of China, […]

The post BNP Paribas makes headway in fiercely competitive onshore China with three-pronged strategy appeared first on Asian Private Banker.

Chinese wealth managers are accelerating their transition from product sellers to more sophisticated firms offering broader wealth solutions after a tough year that was characterised by numerous defaults and the demise of some once-mighty players. Released earlier this week, Asian Private Banker‘s 2023 China Wealth Report reflected how the gloomy Chinese economy reshaped the wealth management landscape in China. It […]

The post APB Insights: China’s wealth managers endure painful transition after tough 2023 appeared first on Asian Private Banker.

Asian Private Banker is delighted to announce the release of its 2023 China Wealth Report together with our AUM League Table for the country’s top 20 private banks. In the latest report, we shed light on the growth story, business highlights, and outlooks of private banks, wealth management firms, and foreign fund houses in China’s evolving wealth landscape. China’s wealth […]

The post APB Insights: China’s private banking AUM growth falls behind Asia Pacific appeared first on Asian Private Banker.

The Chinese government’s efforts to stimulate its struggling property market have often been dismissed by private banking analysts as not going far enough. However, the latest batch of measures announced last Friday has been met with much more enthusiasm than previous attempts. Last Friday, the Chinese government unveiled a package including a re-lending programme totalling RMB 300 billion to support […]

The post China’s latest property stimulus package is different – it might just work appeared first on Asian Private Banker.

Christian Nolting, Deutsche Bank’s global CIO, believes all-time highs or lows should not be the sole driving force behind buying and selling, and instead highlighted two interesting areas poised for growth: China and ESG. Despite slower growth rates in the US, Europe, and to some extent, Asia, relative growth rates favour Asia, the global CIO told Asian Private Banker during […]

The post Deutsche Bank’s global CIO highlights two surprising growth markets appeared first on Asian Private Banker.

Dubbed “China’s Hawaii” by some for its pleasant tropical and sandy beaches, the resort Island of Hainan is aiming to become a premier wealth management hub, having issued a slew of Qualified Domestic Limited Partnership (QDLP) licences in recent years. However, with heavy regulation and cross-border capital controls, can it take on the likes of rising wealth hubs such as […]

The post Can “China’s Hawaii” become the next big wealth hub? appeared first on Asian Private Banker.

With much of China’s wealth management industry reeling amid a collapsing property market, Noah Holdings (Noah) is rolling the dice on offshore expansion following the recent appointment of a new head of wealth management in Singapore. But despite having one of the few remaining healthy balance sheets in the troubled wealth management sector, establishing a foothold in the city-state will […]

The post Noah’s new Singapore wealth head targets offshore jackpot appeared first on Asian Private Banker.

Fidelity International (Fidelity) has closed its latest mutual fund in China, raising a total of RMB 925 million (US$127 million). The firm is now also considering expanding its offerings to multi-asset strategies and even a QDII quota for this year, to help wealthy individuals onshore make offshore diversified allocations. The fund, an equity income strategy (富达悦享红利优选混合型证券投资基金) managed by portfolio manager […]

The post Fidelity continues onshore product launch with fourth China mutual fund, eyes QDII appeared first on Asian Private Banker.

China’s ultra high net worth (UHNW) families are discovering new ways to give to charitable causes which better suit how they grow their own wealth, such as making equity donations, philanthropy experts told APB. Kitty Liu, head of global family office and managing director at China International Capital Corporation (CICC), told Asian Private Banker that philanthropy has become an important […]

The post Common Prosperity pushes China’s philanthropists to discover new ways of giving appeared first on Asian Private Banker.

Allianz Global Investors (AllianzGI) has obtained a wholly foreign-owned public fund management company (FMC) licence in mainland China from the China Securities Regulatory Commission (CSRC), expanding its offerings to retail and U/HNWIs in the country. The approval underscores AllianzGI’s commitment to the mainland Chinese market and providing onshore investors with access to its global investment expertise, the firm said in […]

The post Another foreign asset manager joins China’s trillion-dollar mutual fund market appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) was close to being the largest private bank in Asia until the two Swiss giants, UBS and Credit Suisse, merged last year. Following HSBC’s recent inaugural Global Investment Summit (GIS) in Hong Kong, Annabel Spring, global CEO for GPB and Wealth, shared the bank’s secret weapons in aspiring to be Asia’s leading private bank. “We […]

The post It’s not all about AUM: Annabel Spring on HSBC’s aspiration to be Asia’s leading private bank appeared first on Asian Private Banker.

Private banking analysts are rethinking the big shift towards India, as China’s efforts to stabilise Asia’s largest economy are now gaining traction. On Monday, the closely watched Caixin purchasing managers’ index returned to expansion territory in March. The increase to 51.1 marks the fifth straight month of improvement – the best winning streak for Chinese manufacturing in more than two […]

The post Private banks rethink India pivot amid improving China data appeared first on Asian Private Banker.

China’s top private banks raked in trillions in net new assets with up to double-digit percentage increases in new clients in 2023, despite the protracted economic woes dogging Asia’s largest economy. While good news for Chinese bankers, the country’s largest banks are still faced with the difficult reality of slumping revenues. Industrial and Commercial Bank of China (ICBC), the world’s […]

The post China’s top private banks quietly raked in trillions of assets in 2023 appeared first on Asian Private Banker.

Chinese wealth manager Noah Holdings (Noah) saw a 6.3% increase in revenue to Rmb3,294.7 million (US$464million) in 2023, driven by a strong performance in insurance products. The New York Stock Exchange-listed group enjoyed a 72.2% increase in net revenue from one-time commissions from the distribution of insurance products. That was partially offset by a 57.3% decrease in net revenue from […]

The post Noah sees rise in 2023 revenue despite China wealth woes appeared first on Asian Private Banker.

“One should not invest in China.” This view, offered by Sharmin Mossavar-Rahmani, chief investment officer of Goldman Sachs Group’s wealth-management business, is exactly the sort Beijing hoped to dispel at this week’s National People’s Congress. So far, the China sceptics may be feeling more vindicated than the bulls. Granted, Mossavar-Rahmani made her comments to Bloomberg on 4 March, a day […]

The post “One should not invest in China”: But will Two Sessions convince PBs otherwise? appeared first on Asian Private Banker.

UBS Global Wealth Management Chief Investment Office (UBS GWM CIO) has said it believes that China will “come close” to reaching its potential 5% GDP growth target for 2024. In addition, the chief investment office continues to see opportunities in China, but recommends a defensive positioning in the short term, pivoting towards growth if policy developments move towards an upside […]

The post China to “come close” to 5% GDP growth target in 2024: UBS GWM appeared first on Asian Private Banker.

After spending 27 years at JP Morgan Chase, the firm’s China CEO has announced his retirement. Mark Leung, currently the CEO for China, has said he will retire later this year, in a post on his LinkedIn profile today. “After an amazing quarter of a century with JP Morgan, I have decided to retire from the firm,” Leung announced. “It’s […]

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Raffles Family Office (Raffles) recently lost its Beijing office head, Asian Private Banker can reveal. Annie Hu, head of the Beijing office of the Hong Kong-based family office, left the firm earlier this month, a post on her LinkedIn profile shows. Hu had been with Raffles for almost two years. Previously, she worked for VISTRA for more than six years, […]

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