The market dynamics seen this year could mean that there is no longer a single one-size-fits-all playbook that fund selectors can refer to when choosing funds and speaking to clients. Amid ongoing geopolitical uncertainty, a declining US dollar, and the United States Federal Reserve announcing on 18 September interest rate cuts by 25 basis points in a bid to weather […]

The post FSN SG 2025: Citi, Morgan Stanley, and RBC’s portfolio allocation strategies amid rate cuts appeared first on Asian Private Banker.

Private banks in Asia-Pacific saw their AUM jump by a total of about US$400 billion in 2023, reversing outflows from the previous year, as competition for the top spots in Asian Private Banker‘s Asia 2023 AUM League Table intensified. However, while some institutions achieved double-digit growth, others grappled with outflows. By the end of December 2023, the Asian private banking […]

The post Asia 2023 AUM League Table: Private banks see US$400bn asset windfall appeared first on Asian Private Banker.

The highest US Treasury bond yields in sixteen years are the latest reminder that all private bank strategists thought they knew about 2023 continues to go awry. The spike in 30-year rates toward 5% is one of many borrowing-cost-related data points putting Asia’s portfolios at risk. In Germany, for example, 10-year yields are the highest since 2011, a crisis period […]

The post Rising US yields upend private bankers’ best laid 2023 plans appeared first on Asian Private Banker.

Citi Private Bank captured a record-breaking number of new clients in Hong Kong and the Greater Bay Area market in 1H23, with net new assets also growing at speed. In 1H23, the Hong Kong and GBA market saw a 93% year–on–year increase in new client accounts. That growth was an encouraging indication of Citi’s long-term investment into the Citi Global […]

The post Citi PB’s new account openings almost double in 1H23 appeared first on Asian Private Banker.

From golf at St Andrews, to private islands and supercar driving experiences, Citi Global Wealth (CGW) is aiming to cater to Asian UHNWIs’ skyrocketing needs for luxury and bespoke experiences with the launch of an exclusive new credit card. The ULTIMA Mastercard credit card offers benefits including priority booking for Michelin-starred restaurants, complimentary hotel stays and air tickets, and access […]

The post Is Citi’s new UHNW card the ultimate offering for (crazy) rich Asians? appeared first on Asian Private Banker.

With rising wealth in Asia, private banks are presented with a strategic choice: focus on providing bespoke services to fewer ultra-high-net worth (UHNW) clients, or attempt to capture the mass affluent and early-stage HNW clients as their wealth increases. Asian Private Banker spoke to three banks – Citi Private Bank, Morgan Stanley and BNP Paribas – as they elucidated their […]

The post Private banks on mass affluent rush: Citi, Morgan Stanley, BNP Paribas have their say appeared first on Asian Private Banker.

Citi Global Wealth thinks China’s recovery is gaining speed, but opportunities in “policy-favoured” sectors, such as semiconductors and electric vehicles, are becoming a crowded trade. With more supportive policies being introduced, there is likely a shift in market attention to other industries, such as Internet. “We think China’s recovery is gaining legitimate speed, and we are likely to see that […]

The post CIO Insight – Citi: Be wary of these crowded trades in China appeared first on Asian Private Banker.

The takeover of troubled Credit Suisse by historic rival UBS has sent shockwaves through the financial industry and raised a multitude of important questions – chief among them being: “What happens next?” Below, Asian Private Banker rounds up five key implications of the transaction that has shaken the world of private banking. What’s behind the deal? While Credit Suisse had […]

The post RMs, management, clients: 5 things you need to know about the UBS-Credit Suisse deal appeared first on Asian Private Banker.

The growing investment needs from U/HNWIs in Asia, especially from China, have pushed private banks towards building a integrated and customised wealth management platform for each individuals as one size doesn’t fit all, speakers told in a panel discussion on “Inclusive Asset & Wealth Management Landscape” during Asia Financial Forum. Angel Ng, managing director, head of Asia at Citi Global […]

The post Wealthy Chinese eager to add new assets but need more education: BoC, UBS GWM appeared first on Asian Private Banker.

Welcome to Asian Private Banker‘s Final Word 2022. This year-in-review feature collects the insights and views of private banking and wealth management leaders from across the regional industry. As well as assessing 2022’s top trends – from investments, to products, to technology – it also provides an opportunity for top CEOs, COOs and investment heads to lay out their predictions […]

The post Final Word 2022: What’s in store for 2023? UBS, Credit Suisse, HSBC and other industry leaders have their say appeared first on Asian Private Banker.

Extraordinary social, political and fiscal challenges have made 2022 one of the toughest years in recent memory for private banking and wealth management. In the face of this, how are private bank CEOs steering their organisations through stormy waters? Where are they finding financial diversification opportunities? And what do they believe is in store for 2023? The flagship CEO panels […]

The post What Asia’s top PB CEOs have to say about the APB Summit appeared first on Asian Private Banker.

Hong Kong’s “strong potential” is behind Citi’s decision to open its first Citi Global Wealth (CGW) centre in the Asian finance hub earlier this month. “It’s a sign that proves the bank has the utmost confidence in Hong Kong and it trusts the team in Hong Kong to have the ability to deliver a meaningful result,” Vicky Kong, Hong Kong […]

The post New wealth centre highlights Citi’s confidence in Hong Kong appeared first on Asian Private Banker.

Citi opened its first Citi Global Wealth (CGW) centre in Kowloon – one of the fastest-developing districts in Hong Kong – on Tuesday. Located at K11 ATELIER Victoria Dockside, the CGW centre will mainly serve the bank’s private banking and HNW customers that come under its Citigold Private Client segment. “As a top-three wealth manager in Asia, we are well-positioned […]

The post Citi opens first global wealth centre in Hong Kong’s Kowloon appeared first on Asian Private Banker.

Digital transformation of Hong Kong’s financial services sector is a priority, the territory’s financial secretary said at the opening of Hong Kong Fintech Week, as private banks, wealth managers and tech groups discussed how the finance industry should best harness new digital innovations. The message, by Paul Chan on Monday, was one major takeaway from the first day of the […]

The post Hong Kong Fintech Week: Wealth industry seeks to tap new digital innovations appeared first on Asian Private Banker.

How to bolster product shelves against market volatility with a greater range of alternative solutions was a key topic discussed by private bank fund selectors at Asian Private Banker‘s 9th Fund Selection Nexus in Hong Kong. On a keynote panel entitled The Quest for Resilience and Diversification in Asian Portfolios, leading private banks debated how best to manage client expectations […]

The post FSN Hong Kong 2022 – Fund selectors on Asia’s alternatives goldrush appeared first on Asian Private Banker.

Citi has named a more than three-decade veteran of the bank as its new Asia head of Citigold and Citigold Private Client (CPC). The US lender said on Tuesday that C.R. Sambamurthy (Shyam), most recently head of international personal banking, will return from a sabbatical to take up the role. Effective 1 August and based in Singapore, he will report […]

The post Citi names Asia head for Citigold and Citigold Private Client appeared first on Asian Private Banker.

Citi Private Bank has appointed a new global head of the Family Office Group, according to an internal email shared by the bank. Based in London, Hannes Hofmann will join Citi in September and report directly to Ida Liu, global head of Citi Private Bank. He will become a member of the Citi Private Bank Global Leadership Team as well. […]

The post Citi PB hires global head of family office group from J.P. Morgan PB appeared first on Asian Private Banker.

At Citi Private Bank, the key to building a long-term and sustainable discretionary portfolio for clients is not chasing what is popular today, but building trust with clients, according to Daniel Chan, head of investment management Asia at Citi Global Wealth. “We look at ourselves as an asset management unit. When we launch products, what we want to do is […]

The post We don’t chase what is popular: Daniel Chan of Citi Global Wealth appeared first on Asian Private Banker.

Citi Global Wealth Management (Citi GWM) has named a veteran banker as its new COO, in a bid to drive global growth in its wealth franchise, according to an internal memo seen by Asian Private Banker on Thursday. Valentin Valderrabano will start the New York-based role in July and will move from Korea to the US in the summer. As […]

The post Citi Global Wealth appoints new COO as part of growth ambitions appeared first on Asian Private Banker.

Wealth continuum players were among the most aggressive hirers of private banking talent last year, according to Asian Private Banker‘s Asia 2021 Private Banking RM Headcount & AUM per RM data, as they sought to bolster their presence in the key regional hubs of Hong Kong and Singapore. RM headcount across the region grew by 2.85% during the year to […]

The post APB Insights: Wealth continuum players the top hirers of 2021 appeared first on Asian Private Banker.

This week: Lockdowns will further weaken Chinese growth: Citi Global Wealth; US earnings are outperforming: Standard Chartered WM Lockdowns will further weaken Chinese growth: Citi Global Wealth Citi Global Wealth (Citi GW) believes that Chinese growth will weaken in 2Q22 as the world’s second-largest economy locks down its industrial and financial centres in a bid to stamp out outbreaks of […]

The post CIO Weekly – China’s economy to get worse before it gets better: Ken Peng of Citi Global Wealth appeared first on Asian Private Banker.

With more universal banks in Hong Kong realigning their wealth management businesses to target inflows from a wider wealth continuum, Citi Hong Kong considers its digital solutions as key drivers for its wealth management business, according to Winnie Choi. The head of wealth management of Citi Hong Kong shared with Asian Private Banker that Citi Hong Kong has witnessed robust […]

The post Timely digital solution drives AUM from affluent clients: Winnie Choi of Citi Hong Kong appeared first on Asian Private Banker.

Citi Global Wealth (CGW) took in close to US$15 billion in net new money (NNM) from APAC in 1H21, mainly from its wealth hubs in Hong Kong, Singapore, London and UAE. The amount includes US$8 billion added in 2Q21, with AUM growing 21% YoY. A statement from the bank points out that NNM growth has been underpinned by the recruitment […]

The post Citi Global Wealth attracts nearly US$15B in net new money from APAC in 1H21 appeared first on Asian Private Banker.

Citi on Thursday announced its Hong Kong wealth franchise is to add 1,100 professionals — including 550 new relationship managers and private bankers — over the next five years, with a view to supporting client growth. Hong Kong is a key market for the US lender’s regional wealth ambition “to grow regional client AUMs by US$150 billion by 2025 from […]

The post Citi to add over 1,000 professionals in Hong Kong to support client wealth growth appeared first on Asian Private Banker.

Citi today announced the launch of a campaign to drive AUM growth in the APAC region. Apart from major investments in technology, the American lender seeks to hire thousands of professionals. The Win-in-Wealth campaign aims to add in excess of US$150 billion AUM across Citi’s Asia Pacific franchise — including US$120 billion in the HNW segment — and grow its […]

The post Citi details campaign to boost AUM growth in APAC, adding 1,100 RMs appeared first on Asian Private Banker.

Citi has named two senior executives as co-heads of Citi Global Wealth (CGW) in Asia Pacific. According to an internal memo, Steven Lo and Fabio Fontainha have been appointed Asia-Pacific co-heads of CGW, the unit which was formed in January and integrates the wealth management teams in the retail wealth management business and in Citi Private Bank. While taking on […]

The post Citi elevates key veterans to head integrated wealth management unit in APAC appeared first on Asian Private Banker.