Citi Private Bank has promoted a managing director to a market executive role. Sarah Courtney Dockett has been named market executive for the Philippines, Australia and New Zealand at Citi PB, Asian Private Banker has learnt. Dockett joined Citi PB in 2011 and brings more than 25 years of experience in ultra high net worth client advisory, franchise development and strategic […]

The post Citi PB names market executive for Philippines, Australia, New Zealand appeared first on Asian Private Banker.

Citi Private Bank has tasked one of its market executives to strengthen its Southeast Asia coverage, Asian Private Banker has learnt. Singapore-based Lillian Liao, who was a market executive for China at the US lender, recently took on additional responsibilities to cover the Malaysia and Singapore markets, sources familiar with the matter told APB. Citi Private Bank confirmed Liao’s appointment covering […]

The post Citi PB strengthens Singapore-Malaysia coverage in regional push appeared first on Asian Private Banker.

Asian Private Banker is proud to unveil our 2026 COO Focus, an annual audit of how the region’s largest wealth managers are recalibrating operations following a year of volatile market shifts and rapid technological adoption. Senior executives and thought leaders contributed to this year’s edition, including: Wiwi Gutmannsbauer, UBS Global Wealth Management; Benoit Douchin, HSBC Global Private Banking; Patrick Dreyfuss, […]

The post COO Focus: How Asia’s top private banks are rewiring the middle office appeared first on Asian Private Banker.

Two Hong Kong-based bankers have recently departed Citi Private Bank, Asian Private Banker has learnt. Charles Sit, director and a banker for ultra high net worth clients, and Lai Fai Yeung, a senior private banker, have left the US bank, sources familiar with the matter told APB. Citi Private Bank confirmed the departures of Sit and Lai to APB. Hong […]

The post Two bankers depart Citi Private Bank in Hong Kong appeared first on Asian Private Banker.

A senior Singapore-based executive at Citi Private Bank will be leaving the bank, Asian Private Banker has learnt. Jennifer Tay, market executive for Singapore & Malaysia, the Philippines and Australia/New Zealand, will soon leave the bank, sources familiar with the matter told APB. A Citi spokesperson confirmed Tay’s departure to APB. “She will remain with us for a few months to support a […]

The post Citi Private Bank market executive for Singapore, Malaysia to depart appeared first on Asian Private Banker.

Citi Private Bank has made a senior hire to strengthen its India market coverage, Asian Private Banker has learnt. Based in Singapore, Tarang Garde has joined the US lender as a team head of the non-resident Indian (NRI) desk. Garde has more than 20 years of experience across wealth management, global banking and risk management. He joined Citi Private Bank […]

The post Citi Private Bank hires BNP Paribas WM banker for NRI team appeared first on Asian Private Banker.

Galloping into the Year of the Fire Horse, the race continues among private banks and asset managers to see who can distribute the most spectacular red packets to clients. More than just traditional gifts for family and friends, these laisee, or hongbao, have morphed into cult collectables, often trading on secondary markets for prices that rival the currency inside. Horses […]

The post Vote now: Who has the best red packets in Year of the Horse? appeared first on Asian Private Banker.

In a strong year for client portfolios, top US banks closed out 2025 with double-digit revenue and income growth for their wealth businesses. J.P. Morgan Asset and Wealth Management (AWM) saw its net income grew 19% YoY, while Morgan Stanley Wealth Management doubled net new assets YoY on top of a 13% YoY top-line expansion. Citi Wealth saw a 14% […]

The post Wall Street giants capture wealth earnings surge in 4Q25 appeared first on Asian Private Banker.

In 2025, North Asia’s private banking sector saw a golden moment amid rising market strength and sanguine sentiment, with Hong Kong supporting wealth creation through its capital markets. As we head into 2026, APB highlights five private banks to watch in Hong Kong. UBS GWM back to growth mode post CS integration Two years after the announcement of its shotgun […]

The post Five private banks to watch in Hong Kong in 2026 appeared first on Asian Private Banker.

Asian Private Banker is delighted to present Final Word 2025, our year-in-review feature featuring regional heads from wealth management players across APAC. Click here to read Final Word 2025 In this exclusive feature, top executives reflected on what kept them up at night in 2025, covering everything from digital transformation to regulations, and business strategy to investment performance. Below are some […]

The post Final Word: Private banking leaders reflect on strong a 2025, reveal strategies for 2026 appeared first on Asian Private Banker.

A new dimension has entered the competition between Singapore and Hong Kong: the race to attract Asia’s growing philanthropic capital. As ultra-wealthy families embed impact and legacy into their wealth planning, both hubs are rolling out incentives, structural reforms and collaborative platforms to position themselves as the region’s preferred home for giving. Yet advisers say the rivalry is increasingly additive […]

The post Asia’s top giving hub? Singapore vs Hong Kong in the philanthropy race appeared first on Asian Private Banker.

Despite the financial focus of most family offices, the truth is stark: only 3% of wealth transfer failures over three generations are due to financial issues, such as poor investments or tax planning. The overwhelming majority (97%) stem from relational issues and a lack of next-generation preparedness, according to Citi Private Bank’s Alexandre Monnier. But to tackle these issues, how […]

The post Citi Private Bank leans on global benchmarking to win family office mandates appeared first on Asian Private Banker.

For the world’s elite private banks, office space is more than just a place to house staff. It’s where clients meet, deals are made, and generational relationships formed. Often housing bespoke artwork and well-being centres, while offering stunning views and state-of-the-art facilities, offices are a statement for the bank’s value proposition. And in private banking – being in the business […]

The post Revealed: This is the best private banking office in Hong Kong appeared first on Asian Private Banker.

The wealth industry’s rush into artificial intelligence (AI) is already rapidly moving beyond basic efficiency tools and into more complex portfolio advisory tasks, as implementation becomes a top-tier operational priority. But has anyone stopped to ask an obvious question: How will banks differentiate their advice if every advisor in the city relies on the same or similar machine-driven insights? DBS […]

The post Citi, DBS, Leo Wealth warn of AI-driven portfolio homogenisation appeared first on Asian Private Banker.

Citi Private Bank (Citi PB) has hired four private bankers in Hong Kong as the US lender continues to build its hiring momentum and strengthen its capabilities to serve the region’s ultra high net worth (UHNW) clients. The new hires include senior talent from rivals such as China Merchants Bank International (CMBI) and BNP Paribas, Asian Private Banker has learnt. […]

The post Citi Private Bank ramps up China push with senior banker hires appeared first on Asian Private Banker.

Citi Private Bank (Citi PB) in Asia has resumed hiring, with a former UBP investment head recently joining its Hong Kong team, Asian Private Banker understands. Andy Lee recently joined the US private bank as a managing director, senior investment counsellor in Hong Kong, Citi confirmed. Prior to joining Citi PB, Lee spent less than two years at Swiss pure-play […]

The post Ex-UBP North Asia investment head resurfaces at Citi Private Bank appeared first on Asian Private Banker.

Hong Kong-headquartered alternatives firm Peak Capital has hired a former Citi Private Bank banker. Based in Hong Kong, Roger Bacon has joined Peak Capital in the newly created role of senior advisor, the firm confirmed to APB. Being in the industry for three decades, Bacon previously worked for Citi Private Bank for almost 15 years before parting ways with the […]

The post Ex-Citi Asia advisory head joins Hong Kong alts firm appeared first on Asian Private Banker.

Once reserved for mega family offices and institutional investors, private market investments are now a core part of wealth client portfolios. Global alternative managers are expanding rapidly across Asia, with growing demand for private equity, private credit, infrastructure, and secondaries. But as more players enter the market, questions arise: is the space becoming too crowded, and are semi-liquid strategies, promising […]

The post From luxury to must-have: Asia’s private market boom appeared first on Asian Private Banker.

US banks reported double-digit growth in their wealth management earnings in 2Q25, while also demonstrating strong net new assets and AUM growth, according to recent earnings reports. At the forefront of this earnings growth, Citi’s wealth revenue increased 20% YoY. Morgan Stanley Wealth Management and J.P. Morgan Asset and Wealth Management (AWM) grew their net revenues by 14% YoY and […]

The post US giants score double-digit wealth and PB growth in 2Q25 appeared first on Asian Private Banker.

Citi Wealth is teaming up with Allfunds to expand its mutual fund distribution, aiming to deliver faster, broader access to third-party investment funds for its wealth clients, according to a statement on Wednesday. Under the agreement, the US lender will tap into Allfunds’ technology platform to streamline trade execution, settlement, and reconciliation, aiming to boost speed and efficiency. The collaboration […]

The post Citi Wealth partners with Allfunds to broaden fund access appeared first on Asian Private Banker.

Eighteen months after Citi’s largest organisational restructuring in decades, Citi Private Bank is pledging to align its growth more closely with the bank’s global wealth strategy — a direction Asia chief Steven Lo believes positions the franchise for strong upward momentum and a shot at becoming one of the region’s top three wealth managers. A key change for Lo, head […]

The post “The numbers can only go higher”: Steven Lo on Citi Private Bank’s Asia growth appeared first on Asian Private Banker.

While some major private banks focused on restructuring management and rejigging reporting lines in March, others focused on sweeping up talent. Among those shaking things up was Julius Baer, which flattened its management structure, while Citi Private Bank implemented a new structure for Asia-based market managers. Meanwhile, Morgan Stanley Private Wealth Management Asia (Morgan Stanley PWM Asia) and RBC Wealth […]

The post Movers & Shakers: Julius Baer flattens structure while Citi PB tweaks market managers appeared first on Asian Private Banker.

Citi Private Bank is looking to grow its banker and investment counselors headcount in Asia by about 10% in 2025 after a strong financial performance last year, as the Wall Street lender seeks to deepen its wallet share in the region following a period of consolidation. In his fourth visit to Asia since joining Citi almost two years ago, wealth […]

The post Andy Sieg: Citi Private Bank eyes 10% rise in Asia headcount appeared first on Asian Private Banker.

Citi Private Bank has launched philanthropy advisory solutions in Asia, the bank announced, recognising a growing trend among Asian private banking clientele that want to donate their money to charitable causes. Beginning in Singapore, philanthropy advisory solutions will be led by the bank’s Global Family Office Group. Citi Private Bank will allow clients to make greater impact to causes by […]

The post Citi Private Bank launches Asia philanthropy advisory solutions appeared first on Asian Private Banker.

Over 250 attendees from Asia’s private banking and wealth management sector gathered to honour the recipients of Asian Private Banker’s Awards for Distinction 2024 during an exquisite gala dinner held at The Henderson in Hong Kong’s Central district on Thursday evening. Below are some select photo highlights of the evening:

The post Awards for Distinction 2024: Photo highlights from our gala dinner appeared first on Asian Private Banker.

Investors aren’t just writing checks, they want proof that their money is making a difference. Beyond traditional donors, they’re demanding real world results, according to Karen Kardos, head of philanthropic advisory at Citi Private Bank. In an interview with Asian Private Banker, Kardos shared that many philanthropists have built up significant expertise in the focus areas in which they operate. […]

The post Impactful Actions – “Investors are demanding real-world impact”: Citi PB’s philanthropy head appeared first on Asian Private Banker.

Citi Private Bank has unveiled a new leadership structure for Asia-based global market managers (GMMs), according to an internal memo seen by Asian Private Banker.  Following the organisational changes within Citi Private Bank earlier this year, the lender has further streamlined its structure in Japan, Asia North & Australia (JANA) and Asia South, which is now under the helm of […]

The post Citi Private Bank reveals new structure for market managers in Asia appeared first on Asian Private Banker.

Hong Kong remains the key hub for private banks in the Asia region due to its global connectivity and its pivotal relationship with mainland China. Despite a challenging 2024, with slower economic growth and the property sector in the doldrums, wealth flows in the region have been consistent. As the city recently welcomed the Lunar Year of the Snake, will […]

The post Five private banks to watch in Hong Kong in 2025 appeared first on Asian Private Banker.

Citi Private Bank (Citi PB) has made a senior hire for its global family office group in Asia as the US lender signals its intention to rebuild its family office team in the region. Based in Singapore, Hoo Peng Han joined Citi PB on 4 February as a director for the global family office group in Asia, focusing on Asia […]

The post Citi PB signals plan to rebuild Asia family office team with senior hire appeared first on Asian Private Banker.

In January, several high-profile bankers departed from major private banks in Asia. Meanwhile, US lender Citi looked to streamline its private banking leadership with a new organisational structure. The month’s series of departures began with Deutsche Bank’s North Asia head, Kanas Chan, resigning after holding the role since 2016. The German lender promoted Frederick Fong as her replacement later in […]

The post Movers & Shakers: Industry sees heavyweight departures as Citi rejigs structure, again appeared first on Asian Private Banker.

Citi Private Bank has reshuffled its leadership team following the departure of global private banking head Ida Liu, Asian Private Banker understands. Liu is departing after almost two decades with the bank and nearly four years as global head of Citi Private Bank. “I have made the decision to leave the firm and embark onto the next chapter of my […]

The post Citi Private Bank reshuffles leadership in Asia appeared first on Asian Private Banker.

The head of investment advisory for Asia at Citi Private Bank is departing the bank, Asian Private Banker understands. Hong Kong-based Roger Bacon is leaving Citi Private Bank after almost 15 years with the US lender. Citi declined to comment. Bacon covers investment counselor teams across Asia North and Asia South for Citi Private Bank. For investment products solutions, Sheethal […]

The post Citi Private Bank Asia head of investment advisory departs appeared first on Asian Private Banker.

With the year of the snake approaching, competition between private banks in Asia is hotting up when it comes to who can distribute the most dazzling red packets to clients. These envelopes – known as laisee or hongbao – are traditionally given to family members and friends. However, they can also be highly sought-after collectors’ items and fetch a premium […]

The post Vote now: Who has the best red packets in Year of the Snake? appeared first on Asian Private Banker.

Asian Private Banker is proud to present Final Word 2024, our annual year-in-review segment that highlights all of the crucial issues occupying the minds of the top regional leaders from the likes of UBS Global Wealth Management, HSBC Global Private Banking and Morgan Stanley Private Wealth Management. Click here to read Final Word 2024 In this exclusive feature, top executives […]

The post Final Word: How private bank CEOs in Asia are gearing up to tackle 2025 appeared first on Asian Private Banker.

From surviving the 2008 Mumbai terror attacks to running a private bank, and taking the bold step of starting his own business, Bassam Salem’s journey is a testament to resilience and embracing opportunities. The former Asia CEO of Citi Private Bank has spent the past six years enjoying retirement, splitting his time between Hong Kong, Geneva, and Dubai. Asian Private […]

The post “I am still surprised”: Bassam Salem on private banking, retirement, and surviving terror appeared first on Asian Private Banker.

In November, Bank of Singapore shook up its leadership structure as one of its senior team announced his retirement. Meanwhile, several private banks lost alternative investment heads, despite the asset class gaining momentum. Among the significant departures last month are HSBC Global Private Banking’s (HSBC GPB)  head of investment and wealth solutions for Southeast Asia, Jeffrey Yap, and Omar Shokur, […]

The post Movers & Shakers: Bank of Singapore shakes up leadership; alts heads depart appeared first on Asian Private Banker.

Manulife Wealth and Asset Management (Manulife WAM) has hired a senior executive from Citi Private Bank to head its business in Asia. Based in Hong Kong, Fabio Fontainha will join the firm as the head of wealth and asset management, Asia, effective February 2025. He succeeds Michael Dommermuth, who is leaving the firm at the end of the year, according […]

The post Manulife WAM taps Citi Private Bank for Asia head appeared first on Asian Private Banker.

Asian Private Banker is proud to announce its inaugural Power List Hong Kong, the first of its kind in the region, highlighting the most influential bankers shaping the vibrant private wealth management industry in Hong Kong. Click here to see the full Power List Hong Kong With Hong Kong’s private wealth management industry inching towards the HK$10 trillion mark, APB’s […]

The post APB Power List: Meet the most influential private bankers in Hong Kong appeared first on Asian Private Banker.

Citi Private Bank (Citi PB) has appointed an industry veteran as a global market manager (GMM), Asian Private Banker has learnt. Based in Singapore, Jennifer Tay took the role of GMM for Singapore, Malaysia and Thailand, according to a LinkedIn post. A 30-year Citi veteran, Tay joined the bank in 1994, initially providing investment solutions to institutional investors. She started […]

The post Citi Private Bank names global market manager for Singapore, Malaysia and Thailand appeared first on Asian Private Banker.

The head of alternative investment sales for APAC at Citi Private Bank has resigned, according to people familiar with the matter. Asian Private Banker understands that Singapore-based Brad McCarthy handed in his resignation this week. Citi declined to comment. McCarthy joined Citi in mid-2018 to cover alternative investment sales for its private bank. The US bank is known to have […]

The post Citi Private Bank’s Asia alts investment sales head resigns appeared first on Asian Private Banker.

Goldman Sachs has hired Citi Private Bank’s former South Asia head of global family office in Singapore, Asian Private Banker understands. Jonathan Gan has recently joined Goldman Sachs as executive director for the alternative capital markets group, according to an update on his LinkedIn profile. Gan most recently worked for Citi Private Bank, where he was the head of the […]

The post Goldman Sachs hires another Citi banker for alternative markets group appeared first on Asian Private Banker.

There is a sense of renewed optimism at Citi as its global wealth head, Andy Sieg, visits Asia for the third time since joining last September. Among the top tasks for Sieg will be boosting its struggling wealth business following organisational delayering and restructuring. Meanwhile, Citi’s private bank business has restarted hiring in Asia. On Monday this week, Sieg attended […]

The post Citi sees renewed optimism as global wealth head makes third visit to Asia appeared first on Asian Private Banker.

A team of Citi Private Bank (Citi PB) offshore China bankers is set to join Swiss pure-play EFG, Asian Private Banker understands. Led by former Citi PB offshore China heavyweight banker Seamus Yin, the team moving to EFG will include Yin, two of his former team heads at Citi, and a few relationship managers, people familiar with the matter shared […]

The post Team of Citi PB China bankers set to join EFG appeared first on Asian Private Banker.

Among the many challenges for private banks in Asia Pacific is connecting with the future generation of wealthy individuals. Expecting a great wealth transfer from the current generation of business leaders to their children – and fearing the youth of today may not want “their dad’s banker” – private banks are strategising how best to engage with the next generation […]

The post Summer camp? How Asian private banks are wooing next-gen clients appeared first on Asian Private Banker.

The hiring market among international private banks in Asia has remained relatively slow in 2024, with many still digesting hires made in 2023. However, things are rather different for some Singaporean players and pure-play banks which are aggressively expanding headcount. Bank of Singapore’s aggressive hiring push The fastest-growing private bank in the region has more than once shared its ambitions […]

The post Which private banks are still hiring as Asia talent market slows? appeared first on Asian Private Banker.

Private bank fund selectors from BNP Paribas WM, Citi Private Bank and UBS GWM are seeing fund inflows pick up as clients begin putting cash back to work. While money market funds (MMFs) and fixed income solutions have been capturing inflows, multi-asset and equity strategies are also seeing traction as private banks agree on the need for greater diversification in […]

The post What’s hot and what’s not? Fund selectors highlight key calls for 2H24 appeared first on Asian Private Banker.

Citi Private Bank’s global market manager (GMM) for ASEAN will leave the bank and is set to join one of the world’s largest insurance companies in Singapore. San San Chan will join Prudential as Singapore CEO in September, succeeding Dennis Tan, the current CEO and group managing director of the Strategic Business Group (SBG) covering Singapore, Thailand and Vietnam. Her […]

The post Citi PB ASEAN GMM to join Prudential as Singapore CEO appeared first on Asian Private Banker.

Market mispricings abound in the alternatives space, ready to be exploited by savvy investors who can spot undervalued credits being sold irrationally, says Brad McCarthy. The pullback of traditional lenders, mutual fund and CLO instability due to fund flows and ratings downgrades, decreased ETF and CLO buying, and concerns about future corporate profits have created new opportunities for alternatives managers, […]

The post To win in the alts space, exploit these market dislocations: Citi’s Brad McCarthy appeared first on Asian Private Banker.

Bank of Singapore has appointed an advisor from Citi Private Bank for its new family office and structuring solutions team, as the lender continues its recent hiring spree. Lynn Ong has joined family office and structuring solutions, a newly-formed team within Bank of Singapore’s financial intermediaries, family office and wealth advisory business unit as vice president, family office advisor. In […]

The post Bank of Singapore hires Citi Private Bank advisor for family office push appeared first on Asian Private Banker.

It is no secret that the key to success as a private banker in Asia is your network. But increasingly that concept has spread to the digital age, with the region’s top relationship managers, market heads and executives all seeking to expand their influence on social media. That is most evident on LinkedIn, the world’s largest professional network, which is […]

The post Influencer power list: The private bankers you need to follow on LinkedIn appeared first on Asian Private Banker.

Two former Citi Private Bank (CPB) UHNW bankers have recently joined new shops, Asian Private Banker can reveal. Based in Hong Kong, Emily Ng has recently joined J. Safra Sarasin as managing director, client advisory. Ng departed CPB in March after almost four years with the US bank. Before CPB, she worked for UBS Global Wealth Management. J. Safra Sarasin […]

The post Ex-Citi Private Bank UHNW bankers resurface at new shops appeared first on Asian Private Banker.

Two senior HNW bankers have resigned from Citi Private Bank as the US lender continues its group-wide restructuring. Keith Lee has resigned from Citi Private Bank, according to people familiar with the matter. Lee was most recently head of Hong Kong HNW for Citi Private Bank. Lee was left out of the new structure at Citi Private Bank following the […]

The post Two more senior bankers depart Citi Private Bank appeared first on Asian Private Banker.

The private banking and wealth management industry in Asia has a significant number of women in senior leadership positions, from UBS’s Amy Lo and Jin Yee Young, J.P. Morgan Private Banking’s Harshika Patel, to Citi’s San-San Chan and DBS’s Carol Wu, to name but a few. Here, Asian Private Banker has gathered the views of ten leading women, who shared their […]

The post IWD 2024: What new PB female leaders can learn from Amy Lo and Harshika Patel appeared first on Asian Private Banker.

While the hiring landscape in private banking calmed slightly in February, this lull was then offset by reshuffling within the industry, particularly at HSBC and Citi. Citi’s new structure  As Citi’s CEO Jane Fraser tries to control costs and profitability, a number of HNW-focused personnel depart across its key Hong Kong and Singapore hub under the codename “Project Bora Bora.” […]

The post Movers & Shakers – February 2024: HSBC, Citi restructure as talent war cools appeared first on Asian Private Banker.

The Pacific island of Bora Bora is one of the world’s most idyllic holiday destinations. But for employees of Citi Private Bank, those are the last two words they want to hear as the lender embarks on a significant restructuring. As part of the Wall Street bank’s latest effort to tame costs and stabilise profitability under CEO Jane Fraser, a […]

The post ‘Project Bora Bora’: Inside Citi PB’s plan to restructure Asia HNW business appeared first on Asian Private Banker.

Leading private banks in the US and Europe have, with a few notable exceptions, reported relatively weak earnings for FY23. While not quite the annus horribilis of 2022, behind the weaker-than-expected earnings is a nevertheless difficult year for private banks. Globally, markets were impacted by high inflation, quantitative tightening, geopolitical uncertainty, wars in Europe and the Middle East, and China’s stuttering […]

The post Deutsche Bank PB, Citi PB post disappointing FY23 earnings appeared first on Asian Private Banker.

From the reshuffling of leadership roles across the private banking industry to wholesale changes in the competitive landscape, 2023 was characterised by heavyweight hirings in Asia Pacific. The Credit Suisse-UBS merger resulted in many of the former’s bankers jumping ship, creating some of the most impactful appointments of the year. From long-time Credit Suisse heavyweight Jin Yee Young joining UBS via Deutsche Bank […]

The post The biggest Hong Kong, Singapore private bank hires of 2023 appeared first on Asian Private Banker.

Citi Private Bank (CPB) APAC has unveiled a new leadership structure, following on from the seismic structural changes announced by group CEO Jane Fraser in September last year. Under Fraser’s new plan to streamline its operating model and enhance its strategy, Citi has already re-organised its different business groups into five key business units – services, markets, banking, wealth, and US […]

The post Citi Private Bank unveils latest leadership structure in APAC: what next? appeared first on Asian Private Banker.

Asian Private Banker is proud to present its inaugural Women in Wealth Management report. In this report, we sought to identify, analyse and celebrate companies that are paving the way when it comes to supporting the valuable and unique role that women play in the regional industry. For the first time, industry practitioners have access to granular details on the […]

The post Women in Wealth Management: Three key takeaways appeared first on Asian Private Banker.

Citi Private Bank (CPB) has hired a new global market manager (GMM) for the Philippines, according to people familiar with the matter. Based in Singapore, Angeline So has joined Citi Private Bank and reports to Lung-Nien Lee, head, Asia South, Citi Private Bank. In her new role, So will be responsible for covering Philippines clients in Singapore. The Philippines is […]

The post Citi Private Bank hires GMM for Southeast Asia coverage appeared first on Asian Private Banker.

While there are many established families in Asia which have been involved in philanthropy for decades, the conversation has now turned to how to best engage the next generation of family members, Citi Private Bank’s Karen Kardos told Asian Private Banker. “When we talk to our clients about that, we try to help them to think through what they want […]

The post Next-gen engagement in philanthropy a key priority for Asian families: Citi PB appeared first on Asian Private Banker.

With the new generation starting to take over trillions in family wealth in Asia, private bank CEOs highlighted why family offices and next-gen bankers are the best way to tap into the future of Asia’s private wealth space. In this year’s Private Wealth Management Association (PWMA) summit, private banks gathered in a one-day event in Hong Kong to discuss key […]

The post Family offices and next-gen bankers: PB CEOs look into the future of private wealth appeared first on Asian Private Banker.

Asian family offices are keeping their powder dry, being more selective on private markets, and increasing efforts to prepare the next gen to take over the family’s wealth, with a recent uptick in demand for services such as trusts and succession planning. This is according to Jonathan Gan, head of global family office group for South Asia at Citi Private […]

The post Asian family offices more “selective” on private markets: Citi PB 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.

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.

As H1 2023 reaches a close, private banks and fund managers in Asia are bullish on Japanese equities, due in part to strong fundamentals and domestic demand in the land of the rising sun. In addition, AI-related stocks are expected to see strong traction in the second half of the year, over pure AI stocks. Japanese equities For Swiss pure […]

The post PBs, fund managers eye Japanese equities to avoid US-China tensions appeared first on Asian Private Banker.

Asian Private Banker was proud to honour the winners of nearly 50 industry prizes at its Awards for Distinction 2022 at a prestigious gala dinner in Hong Kong. The event on Wednesday was attended by more than 230 industry leaders. The centrepiece of the evening was the presentation of Asian Private Banker‘s three prestigious personal recognition awards. In the below three […]

The post Awards for Distinction 2022 winners: In their own words appeared first on Asian Private Banker.

Asian Private Banker honoured the winners of nearly 50 prestigious accolades at its Awards for Distinction 2022 at a glittering gala dinner in Hong Kong. The in-person event at Hong Kong’s J.W. Marriott, on Wednesday, was attended by more than 200 senior private bankers and other industry VIPs from not only the city’s private banking industry, but also from mainland […]

The post APB celebrates 2022 Awards for Distinction at gala dinner appeared first on Asian Private Banker.

While many in the industry faced a challenging  2022, Citi Private Bank enjoyed a record-breaking year when it came to attracting new clients in the Hong Kong market. That growth, of 17%, according to Hong Kong and Greater Bay Area head Horace Yip, was in no small part down to Citi taking the opportunity to showcase its values to clients […]

The post How Citi’s Horace Yip is helping the bank capture Greater China wealth 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.

Citi Private Bank is targeting one of China’s most promising regions for wealth management with the appointment of a head of coverage for the Greater Bay Area (GBA), Asian Private Banker can reveal. Horace Yip has taken up the role of head of Hong Kong and GBA, reporting to Steven Lo, head of Asia Pacific, Citi Private Bank. Following the […]

The post Citi PB expands GBA offering with new appointment appeared first on Asian Private Banker.

Citi Private Bank (Citi PB) has used its holistic “one Citi” platform to grow its Asian client base in the vibrant family office segment by about 40% over the last two years. “This year is a big wake-up call. Everyone is thinking about how to systematically diversify their portfolios and just as importantly, how to transfer their wealth to the […]

The post From advisory to delivering the whole platform: Bernard Wai on the value of “one Citi” appeared first on Asian Private Banker.

Citi Private Bank has appointed a team leader for its HNW team in Hong Kong, Asian Private Banker can confirm. Based in Hong Kong, Milton Yau joined the bank in early November and will be responsible for growing the bank’s HNW business in the territory. Yau came from UBS where he spent over 11 years, most recently as a client […]

The post Citi Private Bank hires HNW team leader from UBS appeared first on Asian Private Banker.

One of Citi’s most experienced private banking leaders in Asia-Pacific is retiring, Asian Private Banker can reveal. Rudolf Hitsch, North Asia head of Citi Private Bank since 2018, has over two decades of experience including 12 years with the US-based lender. He has stepped down from his role, a bank spokesperson confirmed. Before Citi, he was a senior private banker […]

The post Citi Private Bank North Asia head retires appeared first on Asian Private Banker.

Citi Private Bank has appointed a head of HNW for the Hong Kong market from UBS, Asian Private Banker can reveal. Keith Lee joined the US lender in October as Hong Kong HNW market manager, according to a LinkedIn profile and people familiar with the matter. In his new role, Lee will focus on the growth of the segment by […]

The post Citi hires Hong Kong HNW team head from UBS appeared first on Asian Private Banker.

For Chinese president Xi Jinping, 2022 has been a giant and intense game of financial whack-a-mole. The government’s “zero-COVID” policy gave way to plunging stocks, flatlining GDP, surging inflation, the worst capital flight in seven years and a rare mutiny by households across the nation. Yet, this last challenge provides a microcosm for a year that has proven much tougher […]

The post Is China facing its ‘Lehman moment’? Here’s what private banks think 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 Private Bank has hired a new Indonesia market head from DBS Private Bank, Asian Private Banker can reveal. Chia Su Ching has joined Citi Private Bank as Indonesia market head, replacing Simon Kastono, the former global market manager for Indonesia who exited the bank early this year. Asian Private Banker has been unable to determine Kastono’s next career move. […]

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Bank of Singapore has appointed a former Citi banker as team head for the Middle East and Africa, Asian Private Banker can reveal. Based in Dubai, Deepu Joseph joined Bank of Singapore in early May. In his new role, he will be serving the bank’s key South Asian diaspora client base in the Middle East and Africa. Joseph was most […]

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Two senior private bankers at Citi Private Bank responsible for coverage of the India and Indonesia markets are leaving their positions, people familiar with the matter told Asian Private Banker. Varun Chugh, managing director and global market manager – Global India, and Simon Kastono, global market manager – Indonesia, are both departing the US lender, according to multiple sources. A […]

The post Citi PB’s India and Indonesia market leaders to depart appeared first on Asian Private Banker.

Private banks in Asia are divided over whether the current sell-off in Chinese equities presents an opportunity to ‘buy the dip’ or the market is set to continue its descent. China’s benchmark CSI 300 lies on the brink of a bear market, or down almost 20% since its most recent peak in February 2021. The market rout has coincided with […]

The post Private banks can’t agree on whether to buy the dip in China appeared first on Asian Private Banker.

A Pictet Wealth Management (Pictet WM) market group head covering North Asia out of Singapore has resigned, people familiar with the matter told Asian Private Banker. Ruth Chung, a veteran China banker and former UBS heavyweight who joined the Swiss pure play in January 2020, recently handed in her notice. A replacement for Chung will be announced in due course, […]

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Nomura believes that “the worst is yet to come” in China, but agrees that Beijing’s policy shift to easing could be the proverbial light at the end of the tunnel. For its part, Citi thinks that reining in the property sector may yield economic and investment benefits. More pain in store Beijing’s property curbs have led to a rapid slowdown […]

The post Nomura believes the worst in China is yet to come, but Citi PB sees a silver lining appeared first on Asian Private Banker.

In recent days, the whiff of inflation in global markets has become a full-blown stench of trouble to come. First came news that China’s factory-gate inflation hit a 26-year high in October. Even more troubling was confirmation that US consumer prices may be overheating, with the 6.2% YoY jump in October undermining hopes that price increases are transient. That fanned […]

The post Why private banks aren’t panicking over inflation appeared first on Asian Private Banker.

Private equity (PE) fundraising in Asia has made a substantial comeback in 2021, after dipping dramatically in 2020. Asia Pacific capital raising accounted for more than 20% of the global total on average between 2010 and 2019. The pandemic dealt a blow to Asia’s position in the global private markets fundraising picture, to the extent that the Asia-Pacific proportion had […]

The post Better returns renew global appetite for APAC private markets appeared first on Asian Private Banker.

Citi Private Bank (Citi PB) has hired a new managing director and investment counselor team lead for its Singapore and Malaysia UHNW business, according to a statement from the lender. Based in Singapore, Chia Pei Jet will use her technical expertise and industry knowledge to drive the delivery of investment solutions and advice for the Singapore and Malaysia markets, and […]

The post Citi nabs J.P. Morgan veteran as new MD for South Asia UHNW business appeared first on Asian Private Banker.

A rapidly evolving market environment and shifting client investment styles have spurred changes in how private banks approach lending — the bread and butter of their business. Universal banks argue that future lending innovations will depend on a holistic offering that straddles private and investment banking. Senior executives from private banks joined a conversation with asset-backed lending provider Equities First […]

The post Next chapter of WM lending will start with PB/IB interplay: private banks appeared first on Asian Private Banker.

This week: Bank of Singapore: Chinese regulators aim to develop the domestic capital market infrastructure; Standard Chartered WM has renewed confidence in value investing; Citi Private Bank believes remaining overweight equities is wise Bank of Singapore: Chinese regulators aim to develop the domestic capital market infrastructure Worries over Chinese tech majors weighed on shares in Asia. The benchmark Hang Seng […]

The post CIO Weekly – Chinese regulators aim to develop the domestic capital market infrastructure: Eli Lee of Bank of Singapore appeared first on Asian Private Banker.

Citi Private Bank has created the role of a Singapore-based Global Market Manager (GMM) for China to better cater to the wealth management needs of Chinese entrepreneurs based in the Lion City. Lilian Liao will be joining Citi PB later this month in this new role. According to a Citi press release, Liao will be managing a team of private […]

The post Citi PB doubles down on servicing Singapore-based Chinese entrepreneurs with new GMM role appeared first on Asian Private Banker.

Citi has poached an HSBC veteran for its private banking unit as it seeks to double down on wealth management. On Tuesday, Citi Private Bank said it has hired Jonathan Gan to its private capital group in Singapore, as the American bank aims to bolster its coverage of family offices in South Asia from its hub in the Lion City. […]

The post Citi PB nets HSBC veteran to bolster coverage of South Asian FOs out of Singapore appeared first on Asian Private Banker.

Citi Private Bank Tuesday has appointed a global market manager for mainland China South and West, based in Hong Kong. Seamus Yin will take overall responsibility for leading the private bank’s coverage of clients from the central, western, and southern parts of mainland China, including the key provinces of Guangdong and Fujian, the American bank said in a press release. […]

The post Citi PB elevates China rainmaker to expanded role focused on mainland entrepreneurs appeared first on Asian Private Banker.

Citi Private Bank remains bullish on equities despite the spectre of inflation upending the current buoyant environment for stocks. “We had a strong overweight (on equities) from 2Q20”, Ken Peng told reporters at Citi’s 2021 Mid-Year Outlook Media Briefing. “This maxed out in November 2020,” he added. In 2021, that overweight on global equities was reduced to neutral on expectations […]

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Banks are stepping up their cryptocurrency offerings as demand from U/HNWI clients surges, despite recent pullbacks in the price of digital assets. The offerings come despite a degree of reluctance on the part of bankers and fund selectors who are trying to balance their fiduciary duties with clients’ desire to benefit from the stratospheric appreciation in prices of some digital […]

The post Banks yield to U/HNWI pressure in offering cryptoservices appeared first on Asian Private Banker.

It’s not just mom-and-pop investors in the stock markets that are selling down to hold cash; UHNW individuals and family offices too are prioritising liquidity over returns. That’s according to a Citi Private Bank survey that gauged investor sentiment among UHNW individuals and family offices since the start of the COVID-19 pandemic. It found that nearly three-quarters of respondents described […]

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Citi Private Bank has announced the appointment of a new chairman for South Asia, based in Singapore. Lee Lung-Nien, CEO of Citi Malaysia since 2014, will assume the new role from 1 September 2020. As chairman South Asia, Lee’s top responsibility will be driving business development and new client acquisition for the private bank. He will report to Steven Lo, […]

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Citi Private Bank has hired a senior vice president for its APAC investment management team, while a Singapore-based director of investment management has left the bank, Asian Private Banker can reveal. Adrian Chan has joined Citi Private Bank’s APAC investment management sales team as senior vice president, leading the bank’s mutual fund sales efforts across North Asia, according to an […]

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Markets are expected to drop lower in the coming quarter, before rebounding in Q3 with the containment of the pandemic and central banks taking measures, according to Steven Wieting, chief investment strategist and chief economist of Citi Private Bank. Wieting is reasonably optimistic on the fiscal measures being taken and sees great buying opportunities in market dips, despite volatility being […]

The post Citi PB: Markets to continue declining in Q2, rebound in Q3 appeared first on Asian Private Banker.

As nearly half of all ex-US investment grade debt is negatively yielding, Citi Private Bank advised investors to “realign” their income portfolios. “Investors can consider borrowing strategies to earn positive income using negative-yielding currencies,” the bank said, indicating euro can be one of the attractive borrowing currencies for leveraged investors. Additionally, the bank said, instead of a high dividend payout […]

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The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asks: If we can agree that effective private banking relies on the bank having a deep understanding of a client’s […]

The post Final Word 2019: How tech helps PBs to better understand clients appeared first on Asian Private Banker.