After setting new wealth fees and AUM highs in 2025, Singapore’s Big Three saw sustained momentum in 1Q26. DBS saw yet another record in wealth income and fees, with double-digit AUM growth, while Bank of Singapore saw wealth fees grow 34% YoY amid the acquisition of HSBC’s wealth business in Indonesia. UOB saw its wealth AUM increase 5% YoY on […]

The post Singapore’s Big Three capture sustained fee momentum in 1Q26 appeared first on Asian Private Banker.

Despite prolonged geopolitical tensions in the Middle East, Asia’s CIOs remained confident in US equities and gold, extending the trend seen in 1Q26, according to Asian Private Banker‘s review of major house views. While bullish sentiment on equities and gold lingered on, the constructive view on private markets from the previous quarter weakened amid recent headlines of private market stress. […]

The post CIO views 2Q26 visualised: PBs bullish equities, gold, but turn cautious on private markets appeared first on Asian Private Banker.

Asia’s private banking AUM has crossed the US$4 trillion mark, according to Asian Private Banker‘s 2025 League Tables. With J.P. Morgan Private Bank entering the top three for the first time and Nomura International Wealth Management (IWM) making its debut in the tables, the 2025 rankings saw widespread movements. J.P. Morgan Private Bank led this growth with a 41% increase […]

The post Asia 2025 AUM League Tables: Assets cross US$4tn, JPM enters top three, Nomura debuts appeared first on Asian Private Banker.

Southeast Asia’s family office surge is entering a more complex phase. After years of rapid proliferation — particularly in Singapore — many families are now reassessing whether the single-family office (SFO) model remains fit for purpose. The shift is not about abandoning the model altogether, but about confronting the realities of scale. What began as lean, founder-led structures are evolving […]

The post New phase for SEA family offices? Julius Baer, DBS PB, Raffles FO weigh in 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.

The head of funds at DBS Private Bank has left the bank after a nearly nine-year tenure, Asian Private Banker has learnt. John Ng recently departed the Singapore-headquartered lender. Ng is currently on ‘gardening leave’ and will be joining another financial institution later this year, sources familiar with the matter told APB. A spokesperson for DBS confirmed Ng’s resignation to […]

The post DBS Private Bank’s head of funds departs appeared first on Asian Private Banker.

Singapore’s banking giants have transformed a volatile 2025 into a strong year for fee generation, with DBS and OCBC’s Bank of Singapore hitting all-time highs in wealth income. These results come as other wealth management players in the region also reported strong earnings. Standard Chartered’s wealth business delivered record wealth solutions income in 2025, while UBS Global Wealth Management saw […]

The post Singapore’s big three break wealth fees and AUM records appeared first on Asian Private Banker.

After more than 26,000 votes, Asian Private Banker‘s readers have made up their minds on the private banks and asset managers with the best red packets in the Year of the Horse. Here, APB presents the winners of this year’s private banking and asset management poll, along with the messages and meanings represented in the winning designs. Julius Baer once […]

The post Revealed: These are the best red packets in the Year of the Horse appeared first on Asian Private Banker.

DBS is leveraging its ‘One Bank’ capability to bring artificial intelligence (AI)-related investment opportunities in Asia to wealth clients. On Monday, the bank announced a three-year partnership with multi-asset investment platform Granite Asia to develop innovative investment and financing solutions, broaden access to capital and provide strategic support to high-growth Asian companies. The partnership kicked off with Granite Asia’s closing […]

The post DBS taps ‘One Bank’ to give wealth clients access to Asia’s AI investments appeared first on Asian Private Banker.

Despite the shadows of a potential AI bubble and persistent valuation jitters, Asia’s chief investment offices are entering 1Q26 with a resolute pro-risk tilt in equities, according to Asian Private Banker‘s review of major house views. While most banks are clinging to US earnings growth as a principal driver, a deepening rift has emerged over the role of fixed income […]

The post CIO views 1Q26 visualised: Private banks double down on US equities amid AI fatigue appeared first on Asian Private Banker.

Having explored space-sector investments for clients, DBS is now sharpening its focus on longevity opportunities, aiming to capitalise on the secular shift toward longer life and advanced healthcare. “We’re at a unique moment where scientific breakthroughs, significant capital flowing into the [longevity] sector, and undeniable demographic shifts are converging, with the sector increasingly becoming mainstream,” said Hou Wey Fook, chief investment […]

The post DBS CIO bets on longevity as next frontier for UHNW portfolios appeared first on Asian Private Banker.

DBS Group Holdings’ chief executive officer, Tan Su Shan, is steering Southeast Asia’s largest lender towards becoming an “AI-enabled bank with a heart,” emphasising the value of genuine human experience in private banking even as disruptive technologies reshape the industry. “2026 will be the year that the AI revolution becomes fairly obvious. We’ll have to rethink how we remake our […]

The post “AI-enabled bank with a heart”: DBS CEO on preserving human touch in private banking appeared first on Asian Private Banker.

DBS Bank has appointed a private markets expert to a senior position in Hong Kong, Asian Private Banker has learnt. DBS Bank has appointed Gregory Wu as the head of managed solutions for Hong Kong, a 14-year-plus veteran of the firm whose promotion comes as the bank seeks to bolster its managed solutions offerings in North Asia.  A spokesperson for […]

The post DBS promotes private assets expert to lead Hong Kong managed solutions 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.

The dominance of Singapore’s big three banks in the region, DBS, OCBC, and UOB, continued in the third quarter of this year, with the trio hitting new highs in assets under management (AUM) and recording double-digit fee growth across the board. This is according to the banks’ latest earnings reports, with DBS seeing record wealth income and AUM. Bank of […]

The post Fee frenzy: Singapore’s big three hit record wealth highs appeared first on Asian Private Banker.

Sun Life has appointed a chief bancassurance officer for Asia from DBS. Effective 3 November 2025, Anshuman Das has been appointed as chief bancassurance officer, Asia, responsible for leading Sun Life’s bancassurance strategy in the region, according to a company release on Wednesday. Das will be based in Singapore and report to David Broom, chief client & distribution officer Asia. He […]

The post DBS bancassurance exec joins Sun Life appeared first on Asian Private Banker.

Southeast Asia’s private banks have been experiencing strong inflows and sustained growth momentum, according to private banking leaders at the APB Summit 2025 in Singapore today. The panel discussion, Business highlights: Progress in Singapore’s private wealth business revealed private banking trends in the region, differentiation strategies, and future industry challenges identified by private banking CEOs. International corridors supporting flows At […]

The post APB Summit 2025: Flows, edge, concerns – UBS, Julius Baer, BOS, DBS share insights appeared first on Asian Private Banker.

Cohen & Steers, a New York-based asset manager specialising in real assets and alternative income, has tied up with DBS as its first official distributor in the region to provide access to its Diversified Real Assets Fund, according to a release on Thursday.  The distribution pact marks the US REIT specialist’s entry into Asia’s private wealth market. The strategy, which […]

The post Cohen & Steers strikes first Asia private bank deal with DBS appeared first on Asian Private Banker.

DBS has partnered with Franklin Templeton and Ripple to offer accredited and institutional investors trading and lending solutions using a tokenised money market fund and stablecoin. Through the partnership, DBS Digital Exchange will list sgBENJI, the token of Franklin Templeton’s tokenised money market fund, alongside Ripple’s RLUSD stablecoin, according to a statement on Thursday. Eligible DBS clients can trade RLUSD […]

The post DBS partners with Franklin Templeton and Ripple for tokenised trading and lending solutions appeared first on Asian Private Banker.

For 2H25 and 3Q25, most private banks are neutral on global and US equities with a preference for Asia ex-Japan and China. Most are also neutral on fixed income, with investment grade being the most preferred fixed income asset class. Short-term bonds and cash are the least preferred. A positive sentiment is seen for alternatives, with the majority of banks […]

The post Asset allocation 2H25: Private bank CIOs bet on Asia, China, and alts appeared first on Asian Private Banker.

Singapore’s big three banks, DBS, OCBC, and UOB, recorded growth in their wealth management AUM alongside increased wealth management income for 1H25. According to the latest earnings reports, DBS’s wealth management AUM rose 12% year-on-year (YoY), while wealth income grew 8% YoY. OCBC recorded an 11% YoY increase in wealth management AUM, with wealth income up 4% YoY. UOB saw […]

The post Singapore banks post wealth AUM growth with income gains appeared first on Asian Private Banker.

DBS Private Bank has entered into an agreement with Hamilton Lane to offer a private assets solution to the bank’s ultra high net worth and family office clients. The solution, Private Assets Tailored by Hamilton Lane (PATH), enables qualified investors to curate a diversified portfolio of private market funds spanning private equity, credit, infrastructure, and real estate, the firms said […]

The post DBS PB and Hamilton Lane give the ultra rich a private edge appeared first on Asian Private Banker.

With US fiscal and policy ambiguity increasing risk premiums across financial assets, DBS believes ASEAN to be an “oasis of stability” and a shelter amid the geopolitical turmoil, and expects further inflows into local currency assets. “When you buy local currency ASEAN equities, you also have that tailwind of a stronger local currency that can beat the US dollar,” said […]

The post Will ASEAN currencies shine as the dollar dims? DBS weighs in appeared first on Asian Private Banker.

Singaporean giant DBS has appointed a veteran banker as head of private banking for the Middle East & Africa (MEA). Loic Voide will take up the role of head of private banking MEA at the start of August, DBS said in a statement on Monday. He will relocate to Dubai for the newly created role. Reporting to Vikas Jaidka, region […]

The post DBS names head of private banking for Middle East & Africa appeared first on Asian Private Banker.

The S$27.45 million in fines that Singapore’s regulator handed out last week is more than just a headline. It’s a warning. Nine financial institutions, including UBS, Credit Suisse, Julius Baer, Citi, LGT, and UOB, were penalised for lapses tied to the country’s most significant money laundering case. But let’s be honest. Are these fines significant for institutions that generate massive […]

The post Bottom Line: Culture eats compliance for breakfast appeared first on Asian Private Banker.

While private banking hiring in Asia Pacific slowed in April, several asset managers in the region named new CEOs. There were also some surprise departures in the private banking industry, with Nomura International Wealth Management (IWM)’s head of North Asia, Rudolf Hitsch, leaving the bank after two years in the role. The head of IWM at Nomura, Ravi Raju, will […]

The post Movers & Shakers: Heavyweights exit Nomura IWM and HSBC GPB appeared first on Asian Private Banker.

Asia’s private banking AUM has surpassed US$3 trillion, according to Asian Private Banker‘s Asia 2024 League Tables, reflecting both the region’s growing wealth and strategic shifts among top players. In one of the most profound moves, Standard Chartered cracked the top five for the first time, showing how fast fortunes can change. The UK-based bank posted an AUM jump of […]

The post Asia 2024 AUM League Tables: AUM hits US$3tn, StanChart enters top five appeared first on Asian Private Banker.

As far as CEO tenures go, Piyush Gupta must rank up there with J.P. Morgan’s Jamie Dimon in terms of turning around a financial behemoth. In his 16 years at the helm of Singapore’s DBS, the veteran banker has overseen an approximately fourfold increase in the lender’s share price, as well as a substantial rise in return on equity that […]

The post Bottom Line: New DBS CEO Tan Su Shan faces big challenges appeared first on Asian Private Banker.

DBS reported a record performance in 2024 supported by significant growth in wealth management fee income, according to its latest earnings report, sending its share price to new highs on Monday. The bank’s net profit rose 11% YoY to S$11.4 billion (US$8.42 billion) in 2024, with return on equity at 18.0%. For the 4Q24, net profit grew 10% YoY to […]

The post DBS books record profits backed by 45% wealth management fee growth appeared first on Asian Private Banker.

After almost 20,000 votes, Asian Private Banker’s readers have decided which private bank offers the best red packets in the Year of the Snake amid fierce competition. Here, APB reveals the winners of this year’s poll, as well as the meaning and messages behind the designs. Julius Baer won the poll again, with 38% of the votes. The Swiss bank also topped […]

The post Revealed: These private banks have the best red packets in the Year of the Snake 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 delighted to unveil the members of its debut Alternative Investments Council (AIC), a new regional initiative that brings together Asia’s leading private bank selectors of alternative investment products. The council, which follows on from the launch earlier this year of APB‘s first-of-its-kind Fund Selection Council, comprises prominent fund selection leaders from the likes of UBS Global […]

The post Asian Private Banker unveils debut Alternative Investments Council appeared first on Asian Private Banker.

Standard Chartered Private Bank (Standard Chartered PB) has beefed up its Southeast Asia coverage with a senior banker hire from DBS, Asian Private Banker understands. Daniel Peh joined the bank in Singapore as executive director, team lead, reporting to Jourdan Gozali, managing director, SEA market head. Gozali resigned from UBS in July 2023 and joined Standard Chartered Private Bank early […]

The post Standard Chartered PB adds senior banker from DBS in Singapore appeared first on Asian Private Banker.

DBS Private Bank has hired a senior market head for North Asia coverage, Asian Private Banker has learned. Gloria Sun is set to join the Singaporean lender in Hong Kong as a senior market head, according to people familiar with the matter. Sun will report to Carol Wu, head of private banking, North Asia, DBS. Sun joins from Deutsche Bank […]

The post DBS Private Bank strengthens North Asia team with senior hire from Deutsche Bank appeared first on Asian Private Banker.

DBS Private Bank has hired a new relationship manager in Thailand, Asian Private Banker has learnt. Thewinta Rattanatam will join DBS Private Bank in Bangkok as a team leader. Rattanatam was most recently with LGT, where she was a Hong Kong-based Thai market relationship manager. According to Hong Kong Securities and Futures Commission records, Rattanatam had been with LGT since […]

The post DBS Private Bank hires Thailand team leader from LGT appeared first on Asian Private Banker.

DBS has onboarded a technology long-short equity strategy by Columbia Threadneedle Investments as it seeks to maximise returns from an artificial intelligence boom for its HNW clients. The strategy targets absolute returns by capturing upside from the technology sector, while reducing downside risk, according to Columbia Threadneedle Investments. It focuses on dynamic beta management and reducing volatility with an aim […]

The post DBS to offer HNW clients tech hedge fund from Columbia Threadneedle appeared first on Asian Private Banker.

Singapore lender DBS aims to increase its AUM in Thailand to THB 300 billion (US$9 billion) by 2026. Edwin Tan expects that the wealth management segment, including both affluent and private banking, will contribute 50% of the growth. “We currently have about THB 100 billion (US$3 billion) in AUM in Thailand,” the market head for Thailand and the Philippines told […]

The post DBS eyes tripling of Thai AUM with onshore-offshore model appeared first on Asian Private Banker.

As DBS CEO Piyush Gupta announced his retirement last week, the hype has now turned to the internal homegrown successor he appointed, former private banker Tan Su Shan. Gupta’s legacy Since Gupta joined DBS as CEO almost 15 years ago from Citibank, together with chairman Peter Seah he has not only escalated DBS’s share price to all-time highs but has […]

The post A homegrown Singaporean talent: What will Tan Su Shan bring to DBS? appeared first on Asian Private Banker.

Singapore’s top three private banks – DBS Private Bank, Bank of Singapore (part of OCBC), and UOB Private Wealth – have all publicly announced ambitious AUM and/or RM headcount expansion targets (here, here and here), increasing the already fierce competition in the Lion City. Whether they are able to meet their targets is yet to be seen, but rising fees […]

The post Positive NNM inflows support Singaporean private banks’ ambitious AUM targets appeared first on Asian Private Banker.

Citi has appointed a new senior executive for wealth from DBS to oversee Asia South, according to an internal memo seen by Asian Private Banker. Effective 1 November, Yeo Wenxian will become the new head of wealth, Asia South, reporting to Andy Sieg, the global head of wealth at the US bank. Yeo will also take on the role of […]

The post Citi names head of wealth for Asia South from DBS appeared first on Asian Private Banker.

DBS Bank has launched a three-year bond fund managed by BlackRock, which it believes is an attractive alternative for clients sitting in cash or money market funds. The DBS CIO Target Maturity Fund 2027 comprises more than 50 high-conviction investment grade corporate bonds and low-risk government bonds. The fund is managed by BlackRock to leverage the asset manager’s expertise in […]

The post DBS launches three-year fixed income fund with BlackRock appeared first on Asian Private Banker.

DBS Private Bank’s senior market head for Malaysia, Thailand and the Philippines has recently resigned, according to people familiar with the matter. Ken Foo left the bank recently, sources told Asian Private Banker. He worked for DBS for over a decade, most recently as senior market head for Malaysia, Thailand and the Philippines. Before that, he was DBS group Japan country […]

The post DBS PB’s senior market head for ASEAN resigns appeared first on Asian Private Banker.

Standard Chartered’s wealth and retail banking unit (WRB) recorded strong momentum in 1Q24 backed by positive net new money (NNM) flows. Previously known as consumer, private, and business banking (CPBB), Standard Chartered restructured its wealth management and consumer banking unit as WRB in April. It renamed its wealth management unit to “wealth solutions.” The wealth solutions unit covers investment products […]

The post 1Q24 earnings: StanChart sees strong NNM in wealth; DBS hits record profits appeared first on Asian Private Banker.

In 2023, discretionary portfolio management (DPM) industry conversations were dominated by the topic of how to get clients out of cash and put their money back to work. Meanwhile, much time and energy was spent promoting sustainable investments (SI). Amid all the chatter, have banks managed to increase their Asia DPM penetration? And have more funds really been directed towards […]

The post Asia 2023 DPM and SI League Table: Sustainable investments break US$1 trillion, while DPM penetration stays stuck in the mud appeared first on Asian Private Banker.

2023 was a year that saw an intense war for talent among private banks in Asia Pacific. The merger of UBS and Credit Suisse formed the region’s largest private bank, allowing the banking behemoth’s competitors to woo ex-Credit Suisse bankers left adrift amid the fallout. Now the dust has settled – and taking a close look at the hard data – […]

The post Asia 2023 RM Headcount League Table: PB headcount edges higher amid industry shakeup 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 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.

Singapore’s big three local banks – DBS, Bank of Singapore (OCBC) and UOB – have all reported solid wealth management income and AUM growth for FY23, despite market volatilities and cautious investment sentiment. DBS DBS’s wealth management’s FY23 AUM hit a record high of S$365 billion (US$271 billion), thanks to strong net new money inflows and the impact of its […]

The post DBS, Bank of Singapore, UOB report solid FY23 wealth management income and AUM growth appeared first on Asian Private Banker.

Singapore’s largest lender, DBS, has appointed a new head of its wealth and retail business for its subsidiary DBS Vickers Securities Thailand, Asian Private Banker can reveal. Sukit Jaratchaiwanna has joined DBS Vickers Securities Thailand as head of the wealth and retail business, based in Bangkok, according to people familiar with the matter. He will be responsible for the DBS […]

The post DBS hires head of wealth for Vickers Securities Thailand appeared first on Asian Private Banker.

A senior client partner at DBS Private Bank (DBS PB) has left the bank, Asian Private Banker can reveal. Eugene Tan, who joined DBS PB in 2010 and was a senior client partner for the Indonesia market, has departed the bank recently, according to people familiar with the matter. Tan reported to Rudiger von Wedel, regional head of ASEAN, Japan […]

The post DBS Private Bank Indonesia senior client partner departs appeared first on Asian Private Banker.

After completing its acquisition of Citi’s consumer banking business in Taiwan, DBS’s wealth management income for FY23 hit a record high with AUM growth of 23%. Following the acquisition, Singapore-based DBS is now the largest foreign bank in Taiwan by assets. Consumer banking customers in that market more than doubled, while total loan balances and deposit balances increased by 1.5 […]

The post DBS wealth management AUM jumps 23% on strong net new money appeared first on Asian Private Banker.

As the fight for talent in private banking continues going into 2024, the new destinations of ex-Credit Suisse bankers are becoming apparent. Ex-Credit Suisse bankers resurface The year kicked off with former Credit Suisse APAC CIO John Woods joining Lombard Odier’s private banking arm as CIO and head of investment solutions for APAC. Woods was among the senior Credit Suisse […]

The post Movers & Shakers – January 2024: Ex-Credit Suisse bankers resurface in new roles appeared first on Asian Private Banker.

Interest rates, China and sustainability are among the topics that will be top of mind for private bankers in the region next year, according to leading CEOs who took part in Asian Private Banker’s Final Word 2023. The year in review project, which collects the insights and views of private banking and wealth management leaders, covers trends ranging from investments, […]

The post Final Word 2023: What is keeping private bank CEOs up at night? appeared first on Asian Private Banker.

DBS Bank has entered into an agreement with Euroclear to onboard its investment funds to Euroclear’s platform to enhance its funds offering for retail and private banking clients. Under the agreement, Euroclear, a provider of post-trade services, will provide trading, custody and distribution services for all of DBS Bank’s fund assets. In turn, DBS Bank’s customers will now have access […]

The post DBS enhances fund investment platform for retail and wealth clients appeared first on Asian Private Banker.

Private banks are pivoting towards hiring mainland Chinese talent for their rich experience and deep connections with the Chinese corporate world. Top private bankers made welcoming overtures to mainland Chinese bankers, remarking “My phone is always open” and “We welcome them with open arms”, during the panel discussion What’s in a CV? at the 13th annual APB Summit 2023 in […]

The post “China bankers have come of age”: PBs pivot towards mainland Chinese talent appeared first on Asian Private Banker.

Private banks in Asia reported strong performance across the board in 3Q23, on the back of increasing revenues and positive net new assets. Below, Asian Private Banker breaks down how the region’s banks performed this past quarter. Retail-linked banks HSBC Wealth and Personal Banking (WPB)’s revenue jumped 71% from the previous year, reaching US$6.7 billion in 3Q23. Net new money […]

The post Private banks report strong APAC performance, positive asset inflows in 3Q23 appeared first on Asian Private Banker.

In 3Q23, Singapore’s ‘big three’ local private banks, DBS, Bank of Singapore and UOB, reported a recovery in their wealth management businesses, according to their recent earnings reports. Bank of Singapore OCBC Bank’s private banking arm, Bank of Singapore, reported an increase in wealth management income of 16% in 3Q23 YoY, reaching S$1,119 million (US$822 million). However, on a quarterly […]

The post BOS, DBS, UOB report recovery in wealth businesses appeared first on Asian Private Banker.

The way in which family offices think about philanthropy is changing, with the next generation putting more emphasis on developing an effective philanthropic strategy, going beyond traditional charitable donations. This is according to a recent report from DBS Private Bank, The Asian Family Office: Driving Impact and Innovation, which surveyed over 200 senior executives in single-family offices across the region to […]

The post Next gens going beyond “chequebook philanthropy”, says DBS PB report 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.

Amid a return in spending among U/HNWIs following years of Covid restrictions, banks in Asia are competing with a variety of credit card perks to attract the region’s wealthy. In 1H 2023, spending on luxury goods and bespoke experiences rose by 56% in Singapore and 36% in Hong Kong, compared to the same period in 2019, according to data from […]

The post Luxury lifestyle, dining and travel: How credit cards are competing in post-Covid spending boom appeared first on Asian Private Banker.

DBS has flagged promising growth for its wealth management business in the coming five years as the Singapore-based lender seeks to boost its penetration of high-growth markets, including China, Indonesia and India. In an investor day presentation published on Monday, DBS said that at a group level, it aimed to increase its earnings to more than SGD10 billion and return […]

The post DBS Wealth Management had a great 2022. It’s just getting started appeared first on Asian Private Banker.

A rip-tide of market volatility profoundly affected Asia’s private banking landscape in 2022, with HSBC Global Private Banking snatching second place from beleaguered Credit Suisse in our annual Asia Private Banking AUM league table. Across the top 24 private banks in the region, total AUM rose by 3.6% to US$2.463 trillion, reflecting the capacity for industry players to attract net […]

The post Volatility shakes up Asian private bank landscape in 2022 appeared first on Asian Private Banker.

The DBS-led Asia First Impact Fund has raised more than US$20 million in its first close of fundraising, attracting strong demand from Asian family offices and HNWIs, the Singapore-based lender announced on Wednesday. As anchor investor, DBS has committed US$10 million to the fund, with the remainder being accounted for by family offices, foundations, corporates and HNWIs, including the Tsao Family […]

The post DBS-led Asia impact fund sees strong demand from family offices appeared first on Asian Private Banker.

The 12th annual APB Summit returns to its in-person format in Singapore on 1 December. In this year’s iteration of Asian Private Banker’s flagship event, our carefully selected speakers will look back at the seismic events that have jolted the industry over the past year, as well as identify the potential opportunities, and challenges, that 2023 may bring. The market […]

The post What to expect from the 12th annual APB Summit in Singapore 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.

The stomach-churning market performance and the impact of China’s pandemic control measures combined to batter the 1H22 results of many Asia-focused PBs. Below is a rundown of the causes for the dismal 1H22 earnings at key players in the region: Universal banks feel impact of pandemic measures in China and Hong Kong For HSBC, global revenue at Wealth and Personal […]

The post What’s behind disappointing 1H22 earnings for PBs in Asia? appeared first on Asian Private Banker.

DBS on Thursday said 2Q22 net profit rose 7% YoY to $1.82 billion, the second highest ever for the Singapore lender. Wealth management income — comprising DBS Treasures, DBS Treasures Private Client and DBS Private Bank — increased from S$660 million in 2Q21 to S$753 million in 2Q22. Wealth management fee income, however, dipped 21% YoY to S$337 million as […]

The post DBS grows wealth income in 2Q22 but fee income slips further appeared first on Asian Private Banker.

A senior market head at DBS Private Bank covering Greater China is leaving the Singapore-based lender, Asian Private Banker understands. Having joined the bank in late 2016, Kin Chan was responsible for the Greater China, International, and non-resident Indian private banking teams in Hong Kong. Before DBS, Chan was an executive director both at Nomura and UBS. Earlier in his […]

The post DBS Private Bank Greater China market head resigns 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.

DBS’s head of private banking for Greater China is leaving his role, people familiar with the matter told Asian Private Banker. Peter Tung, who joined the Singapore-based bank in mid-2020, had been responsible for developing DBS’s private banking business in Hong Kong, Macau, Mainland China and Taiwan. Prior to joining DBS, Hong Kong-based Tung was a partner at family office […]

The post DBS’s head of private banking for Greater China departs appeared first on Asian Private Banker.

The wealth management businesses of Singapore lenders DBS and OCBC Bank lost momentum in 1Q22, in what seems to becoming a trend in banking performance in the region amid market uncertainty. DBS on Friday said that 1Q22 wealth management fee income fell 21% YoY to S$408 million, but was up 7% QoQ. In 1Q21, WM fees hit a record high […]

The post DBS and OCBC latest banks to suffer tough 1Q22 for WM appeared first on Asian Private Banker.

DBS Private Bank (DBS PB) has appointed a new global market head for Singapore, people familiar with the matter told Asian Private Banker, while two senior bankers have also left the lender. Le Sa Cheah, previously head of equity capital markets at DBS’s investment banking unit, has taken on the market head role in the Southeast Asian city-state, APB understands. […]

The post DBS Private Bank appoints new Singapore market head appeared first on Asian Private Banker.

This week: Don’t read too much into yield curve inversion: DWS; Outflows from bonds will go to private market: DBS Don’t read too much into yield curve inversion: DWS DWS believes that it is too early to predict that a recession is coming, despite the US two-year treasury yield briefly moving above that of the 10-year this week, in an […]

The post CIO Weekly – Yield curve inversion does not mean recession is coming: Sean Taylor of DWS appeared first on Asian Private Banker.

The Monetary Authority of Singapore has banned a former DBS wealth manager from providing any financial advisory services for 10 years following his conviction for defrauding clients. Loh Thim Mun Marcus was found guilty of cheating seven clients into transferring S$490,000 to his personal bank account between October and November 2018. The regulator said Loh had falsely informed some of […]

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DBS China has chosen a new Country CEO internally as the incumbent Neil Ge will be retiring from the bank by the end of June. Ginger Cheng, currently the deputy CEO of DBS China and head of the DBS Institutional Banking Group (IBG) in China, will succeed Ge in the role of Country CEO, effective 1 April 2022 and subject […]

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DBS has been stepping up efforts to enhance the knowledge of its relationship managers (RMs) to deepen their understanding of the different sustainable finance products. After training about 200 RMs in 2021, the Singapore lender this year plans to extend its sustainable training courses to a wider group of employees beyond RMs. “There are many environmental challenges in front of […]

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Robust inflows and client activity helped major private banks and wealth managers in Asia to post strong profits in 2021, despite challenges ranging from ultra-low interest rates to volatile markets. For many banks, AUM growth in the region was boosted by healthy levels of asset gathering, in part driven by industry players’ success in implementing digital platforms to ensure seamless […]

The post Which private banks had the best 2021 earnings growth in Asia? appeared first on Asian Private Banker.

UCAP Asset Management has added a veteran private banker in Hong Kong to help grow its Japanese HNW client base, Asian Private Banker has learnt. Genji Hosono has joined as a senior partner, after nearly a decade at Pictet & Cie (Europe) S.A. Hong Kong. His most recent position was managing director covering Japanese clients. He brings over 25 years […]

The post IAM hires Pictet MD to target wealthy Japanese appeared first on Asian Private Banker.

This week: HSBC GPB: More headwinds in China, but high-tech manufacturing will drive growth; DBS prefers hard commodities as hedge against inflation; Standard Chartered WM expects high-beta currencies to play out HSBC GPB: More headwinds in China, but high-tech manufacturing will drive growth HSBC Global Private Banking (GPB) is confident that China can reach a GDP growth of 5.6% this […]

The post CIO Weekly – High-tech manufacturing will be a growth engine for China: Patrick Ho of HSBC GPB appeared first on Asian Private Banker.

Bank of Singapore has joined a growing chorus of private banks in the region that have highlighted the ‘metaverse’ as the investment theme that is set to shape 2022. However, investment strategists across the wealth industry differ on the most lucrative way to play the high-tech concept — where virtual reality and real-life merge in an immersive and interactive way. […]

The post Asia-Pacific PBs throw weight behind metaverse trend appeared first on Asian Private Banker.

This week: BNP Paribas WM prefers cyclicals over growth, expects easing in Beijing’s COVID-19 policy; DBS considers negative rates a tailwind for stocks BNP Paribas WM prefers cyclicals over growth A surge in inflation in the US will likely peak in 1Q22 before subsiding during the rest of the year, according to the Asia CIO of BNP Paribas Wealth Management. […]

The post CIO Weekly – US inflation peak near but watch out for Omicron risks: Prashant Bhayani of BNP Paribas WM appeared first on Asian Private Banker.

J.P. Morgan Private Bank has hired a managing director to cover the China market, based in Singapore. A spokesperson for the US private bank told Asian Private Banker that Jerry Heng joined earlier this month and will be part of a team under the leadership of James Wey, head of Singapore and Southeast Asia. Heng was most recently a banker at […]

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DBS Group reported a 3Q21 net profit of S$1.7 billion, up 31% YoY, thanks to a healthy loan growth and a fee income which grew 11% YoY to the second-highest on record. The profit jump was partly driven by a 3Q21 allowance write-back of S$70 million. Loans expanded at 2% QoQ to S$6 billion. Loan growth this year has been […]

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DBS Private Bank will roll out a suite of digitalised and hyperpersonalised advisory tools for RMs in Singapore by the end of 2021. Named DBS Client Connect, it has received encouraging feedback from both affluent clients and RMs. In the latest update on its intelligent banking initiative, DBS introduced its proprietary DBS Client Connect as a “one-stop tool” that consolidates […]

The post DBS PB to roll out hyperpersonalised client insight tools for RMs before year-end appeared first on Asian Private Banker.

DBS Group Holdings on Monday announced the appointment of its new chief risk officer (CRO). Effective 4 November 2021, Soh Kian Tiong will report to DBS CEO Piyush Gupta and be accountable to the Board Risk Management Committee. He succeeds current CRO Tan Teck Long, who will be leaving the bank to return to a customer-facing role. Soh has worked […]

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There is no denying the transformational impact of cryptocurrencies on financial markets and, potentially, on everyday lives. Yet banks are still debating whether cryptocurrency funds can hold enough appeal to investors. Evrard Bordier, CEO and managing partner, Bordier & Cie, said that his bank’s relationship managers have developed an understanding of the asset class based on the assumption that its […]

The post While cryptocurrencies evolve, investors still have second thoughts about cryptofunds appeared first on Asian Private Banker.

DBS Private Bank’s in-house managed investment products have garnered S$10 billion in AUM, with its most popular product — the Barbell Income Fund — bringing in around S$2 billion in subscriptions, the bank announced on Thursday. The Singaporean bank added that its AUM more than doubled YoY as of August 2021. Responding to an inquiry by Asian Private Banker, a […]

The post DBS PB’s in-house products reach S$10 billion AUM, Barbell Income Fund tops chart appeared first on Asian Private Banker.

Announcing the details of the long-awaited Wealth Management Connect scheme on Friday (10 September), the Hong Kong Monetary Authority (HKMA) specified that cross-boundary banks will have to sell their investment products in an “execution-only” model to cross-boundary clients under existing sales and soliciting restrictions. The People’s Bank of China (PBoC), HKMA and the Monetary Authority of Macao on Friday promulgated […]

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The first half of 2021 was largely kind to Asia’s private banking business of all shapes and sizes. There was continued momentum in AUM growth among major players, thanks to the lasting market bull run since last year. On the other hand, a notable number of banks saw 1H21 profits breaking records on the back of improved profitability. Across the […]

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DBS sustained its business momentum into 2Q21, posting a record profit of S$3.71 billion in 1H21, up 54% YoY, a day after its smaller Singapore peers OCBC and UOB equally reported estimates-beating financial results. “The business momentum for 1H21 has been extraordinarily strong,” said Piyush Gupta, DBS Group CEO, “and we expect business momentum to be sustained in the coming […]

The post Strong momentum pushes DBS 1H21 net profit to S$3.71B, bolsters WM business appeared first on Asian Private Banker.

Though the US Federal Reserve is likely to indicate in advance any plans to start “tapering”, investors may want to start preparing for that eventuality now, the DBS Chief Investment Office said. Speaking to reporters to discuss the 3Q21 CIO Insights report, subtitled “Hope into Reality”, DBS Bank CIO Hou Wey Fook pointed to the US bond market as suggesting […]

The post Stick to the barbell workout as the Fed makes up its mind on inflation: DBS appeared first on Asian Private Banker.

DBS Securities (China) has obtained a securities business licence from the China Securities Regulatory Commission (CSRC). This will enable Singapore-headquartered DBS Group’s majority-owned securities joint venture in China to officially commence business operations starting today. With the licence, DBS Securities (China) will be able to operate brokerage, securities investment consulting, securities underwriting and sponsorships, as well as proprietary trading. The […]

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DBS Group on Friday announced its 1Q21 results. Net profit doubled from 4Q20 and increased 72% YoY to SGD 2.01 billion, crossing the SGD 2 billion mark for the first time. Asset quality was healthy, with new non-performing asset formation and specific allowances at pre-pandemic levels, according to the earnings release. Net interest income fell 15% YoY as a 37-bp […]

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In a deal valued at RMB 5,286 million (US$814 million), DBS Bank is to acquire a 13% stake in Shenzhen Rural Commercial Bank Corporation Limited (SZRCB) to “accelerate its expansion” in the Greater Bay Area (GBA). According to a press release, DBS Bank has obtained approvals from the Monetary Authority of Singapore and China Banking and Insurance Regulatory Commission, Shenzhen […]

The post DBS Bank to take major stake in Shenzhen bank for RMB 5.3 billion appeared first on Asian Private Banker.

China’s tech industry is likely to emerge stronger than ever as a move towards self reliance is helping to build a strong moat, according to DBS. The comments from the Singaporean bank come as private banking CIOs and market strategists increasingly advocate not rotating into at-value assets at the cost of high-growth equities. This time around, the “unique part” of […]

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High-growth tech stocks continue to be the bulwark on an income-generating portfolio, DBS said, despite concerns about rising yields undermining the valuations of these money spewing businesses. “Most investors are of the view (that) it is a bubble, and therefore susceptible to bond yields rising,” said DBS Chief Investment Officer Hou Wey Fook. But DBS’ analysis indicates that valuations of […]

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DBS Private Bank’s two flagship products have raised over SGD 1.6 billion (US$1.2 billion) in assets under management (AUM), demonstrating the acute need for investment strategies that help investors weather the onslaught of the low and negative-interest rates environment. The DBS Chief Investment Office MSCI EM Asia ESG Leaders Outperformance Trade (ESG Outperformance Trade) fund raised over SGD 690 million, […]

The post “Barbell” workout pays off for DBS; AUMs linked to strategy muscle up to SGD 4 billion appeared first on Asian Private Banker.

Rich clients taking to trading generated record fees at DBS Group’s wealth management business, helping the Singapore bank to weather the impact of COVID-19 related lockdowns in its home market and making allowances for loans potentially turning bad. For the full year of 2020, DBS Group reported a net profit of S$4.72 billion, 26% below the record income earned in […]

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This week: Deutsche Bank IPB: “Tough on China” approach likely to continue under Biden; Standard Chartered WM: Two out of six tracked indicators suggest stretched equity markets; BNP Paribas: Invest in liquid stocks with excess return generation capabilities; DBS: Don’t write off the rising influence of retail investors; Pictet Wealth Management likes beaten-down companies that maintained strong balance sheets throughout […]

The post CIO Weekly – Featuring Deutsche Bank IPB’s Tuan Huynh appeared first on Asian Private Banker.

OSL is eager to meet the rising interest from HNW investors who are dipping their toes into digital assets. The digital asset trading platform — which has been granted Type 1 and 7 licences by the Hong Kong Securities and Futures Commission (SFC) — targets institutional and professional investors. It has four main business verticals: prime brokerage, a digital asset […]

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