In a bold departure from its previous focus on South and Southeast Asia, Liechtenstein pure-play LGT raided Chinese securities firm China Merchants Bank International (CMBI) for a team of private wealth professionals in Hong Kong last month. The move underscores an intensifying Asian talent war, in which global firms are increasingly hunting within Chinese institutions to secure critical onshore experience. […]

The post Movers & Shakers: LGT’s CMBI raid signals intensifying battle for Greater China talent 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.

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.

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.

In September, India led the hiring in Asia as LGT named seven managing directors from Barclays for its onshore India wealth business. The month also saw some major moves in the industry, including the former Bank of Singapore co-head of private banking, Robin Heng, joining EFG as vice chairman of Southeast Asia after announcing his retirement last year. VP Bank’s […]

The post Movers & Shakers: Who is LGT up against in India? appeared first on Asian Private Banker.

From 2020 to 2024, Asia’s private banks expanded their total Asia ex-China onshore AUM by 32%, increasing from US$2,346 billion to US$3,093.5 billion over the five years. The fastest growth in industry AUM occurred in 2023, when AUM across private banks grew 24.6%, following a year when AUM contracted by 6.2% in 2022. Out of the 23 private banks included […]

The post Which private banks are leading AUM growth in Asia? We reveal appeared first on Asian Private Banker.

LGT has hired seven new managing directors (MDs) from Barclays Private Bank India for its onshore India wealth management business. Sunit Jain, Anirudh Chowdhry, Harpreet Sawhney and Manisha Saxena have all joined the Liechtenstein-headquartered private bank in Delhi. Jain has been named as co-head, client coverage for the private client business. He was most recently head of North India at […]

The post LGT adds seven Barclays MDs to expand India wealth business 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.

Cooperating with J.P. Morgan AM (JPMAM), the Commonwealth Bank of Australia (CBA) ’s private banking unit, Commonwealth Private Limited, has launched a self-directed investment option for wholesale investors. The offering, Private Wealth Advantage, brings together local expertise from CBA’s Private Bank and global insights from JPMAM to offer a self-directed investment option for wholesale investors, according to a company announcement […]

The post Commonwealth Private selects JPMAM for wholesale client offering 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.

We launched our India 2024 AUM League Tables this week, and the standout was Standard Chartered. Its AUM jumped 479.4%, overtaking Julius Baer to become the top foreign private bank in India. Back in April, Standard Chartered surprised many by entering Asia’s top five with a 57.2% AUM increase, raising questions about where the growth came from. Now, with India’s […]

The post Bottom Line: StanChart’s India AUM surge. Julius Baer, are you watching? appeared first on Asian Private Banker.

Pure-play private bank LGT and alts fintech iCapital have entered into a strategic partnership, the firms said on Wednesday. Through this partnership, iCapital and LGT have launched a new technology platform to digitise the lifecycle of LGT’s alternative investment offerings. The new platform will be integrated into LGT’s banking systems, providing relationship managers, investment advisors, and operations teams with an […]

The post LGT partners iCapital to digitise alts offerings appeared first on Asian Private Banker.

The CEO of LGT in Thailand has resigned from the bank, Asian Private Banker understands. Ekkapob Makeguljai, CEO and a member of the board of directors at LGT Securities (Thailand) Limited, as well as a member of the executive board Asia, has decided to part ways with the Liechtenstein pure play, and will step down at the end of this […]

The post LGT Thailand CEO to step down 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.

LGT has hired a former Credit Suisse fund selector for Asia, Asian Private Banker has learnt. Charis Wong has joined the Liechtensteinian boutique private bank as executive director, managed solutions specialist, based in Hong Kong, according to people familiar with the matter. Before that, Wong spent a decade at Credit Suisse, including a year at UBS Global Wealth Management following […]

The post Former Credit Suisse Asia fund selector joins LGT appeared first on Asian Private Banker.

Liechtenstein-headquartered boutique private bank LGT has hired a seasoned family office advisor to head its family office services. Based in Hong Kong, Peter Lee announced in his personal LinkedIn update that he has been appointed as managing director, head of family office services, for LGT Private Banking. Lee comes from KPMG China, where he was most recently a partner in […]

The post LGT hires ex UBS banker to head family office services appeared first on Asian Private Banker.

Liechtensteinian pure play LGT has signed an agreement to acquire the personal advice business of Commonwealth Bank of Australia (CBA) as part of its efforts to expand its presence in the Australian wealth management market. The acquisition of Commonwealth Private Advice is expected to transfer more than CHF 2.8 billion (US$3.2 billion) in assets from CBA’s ultra high net worth and […]

The post LGT expands presence in Australia with acquisition of CBA’s personal advice business appeared first on Asian Private Banker.

LGT Wealth India has hired a managing director from Barclays Private Bank, the firm said in a statement on Wednesday. Based in Mumbai and effective August 2024, Poonam Mirchandani has been appointed as a managing director for the wealth planning and family solutions division. In her new role, Mirchandani will be responsible for expanding the wealth manager’s offerings in succession […]

The post LGT Wealth India hires MD for wealth planning team from Barclays PB appeared first on Asian Private Banker.

Asian Private Banker is proud to present the launch of its Asia Markets 2023 AUM League Tables which track the growth story of private wealth management in Thailand, Taiwan, the Philippines, Malaysia, and Indonesia. Today marks the launch of our Thailand and Indonesia data, with Taiwan, Malaysia and the Philippines to follow on Wednesday this week. In this year’s AUM […]

The post APB Insights: Two-speed Thailand – AUM growth slows for local banks as int’l players make strong gains appeared first on Asian Private Banker.

Boutique private bank LGT has appointed a deputy CEO for Singapore, Asian Private Banker can reveal. Singapore-based Mark Lim will take up the role starting in August, according to a personal update on his LinkedIn profile. He joined the bank in February 2022 as head of legal for Singapore and in October of that year he assumed the role of […]

The post LGT names deputy CEO for Singapore appeared first on Asian Private Banker.

Over 10 investment specialists have recently left Liechtenstein-headquartered LGT in Hong Kong and Singapore, Asian Private Banker can reveal. Andrew Yong, a Hong Kong-based managing director and head of investment advisory with 12 years at LGT, is the most senior among the staff leaving the bank, according to people familiar with the matter. Michael Mok, a Hong Kong-based senior equity […]

The post Over 10 investment specialists depart LGT in Hong Kong and Singapore appeared first on Asian Private Banker.

Asian Private Banker is delighted to announce the launch of its India 2023 League Tables, which shed light on India’s growth story and the business strategies of the region’s private banks and wealth managers. By the end of 2023, the Indian private banking sector managed approximately US$670 billion in assets, a 33% increase from last year’s US$506 billion. With the rally […]

The post APB Insights: India private wealth management AUM soars past US$670bn appeared first on Asian Private Banker.

While US AI stocks may still dominate the market narrative going into the second half of the year, private banks are identifying more opportunities in Asia, expecting the region to deliver robust GDP growth throughout 2024. HSBC Global Private Banking’s (GPB) Asia CIO team believes Asia remains the most important growth engine of the global economy with projected GDP growth […]

The post Private bank CIOs pivot to Asia market opportunities for 2H24 appeared first on Asian Private Banker.

Liechtensteinian pure-play LGT recently appointed a managing director from Julius Baer, Asian Private Banker can reveal. Rena Chew has joined LGT as managing director, relationship manager for Singapore, where Chew will be based, according to people familiar with the matter. Chew most recently worked for Julius Baer for two years. She worked for Bank of Singapore and Barclays before that. […]

The post LGT hires MD in Singapore from Julius Baer appeared first on Asian Private Banker.

LGT Wealth India’s assets surged by over 75% last year, with its ex-Credit Suisse investment team helping to drive growing interest in fixed income discretionary portfolio management (DPM), supported by recent tax changes. As CEO of LGT Wealth India, Atul Singh is not fazed by the bigger foreign competition – he knows it is not about size, but service. In […]

The post LGT Wealth India’s AUM jumps 75% while ex-Credit Suisse team drives DPM push 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.

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.

Bank of Singapore has appointed a head of compliance for its DIFC branch in Dubai. Jibu George joins from LGT Private Bank, where he was chief risk and compliance officer for the Middle East business since 2017. Prior to that, he worked at Merrill Lynch, ABN Amro, Dresdner Bank and Barclays. George brings over 25 years of compliance and AML […]

The post Bank of Singapore turns to LGT for compliance head in Dubai appeared first on Asian Private Banker.

Liechtensteinian pure-play LGT has appointed a new senior relationship manager, Asian Private Banker can reveal. Based in Hong Kong, Rupert Morgan recently joined LGT as managing director, relationship manager, according to people familiar with the matter. Before joining the bank, he was with HSBC Global Private Banking for over a decade working in both Hong Kong and London. He was […]

The post LGT hires former HSBC senior RM in Hong Kong appeared first on Asian Private Banker.

What is the hottest area of competition between private banks in Asia at Chinese New Year? DPM market penetration? Wallet share? The fastest growing net new money? You guessed it, custom red packets. These ornately-adorned envelopes, known as laisee in Cantonese or hongbao in Mandarin, are presented – often containing money – to friends, family members, colleagues and clients as […]

The post Poll: Which private bank has the best red packets in the year of the dragon? appeared first on Asian Private Banker.

While some investors now deem China uninvestable, Swiss pure-play LGT believes that to underweight this market would be too aggressive. Chinese equities – both H- and A-shares – are seeing their worst start to a new year in a decade. Despite a slight gain this week, the current market consensus is poor. Hong Kong’s Hang Seng Index has lost close […]

The post CIO Insight – Underweight China is “too aggressive”: LGT’s Stefan Hofer appeared first on Asian Private Banker.

LGT Wealth India has snapped five wealth management veterans as new RMs in the South Asian country, as the pure-play seeks to strengthen its coverage across this market’s tier two and three cities. All of the new hirings at the Liechtenstein-based private bank, which has about US$1.8 billion in AUM in the country, arrive from Centrum Wealth Management. LGT’s push into […]

The post LGT digs deeper into Indian wealth with five new senior hires appeared first on Asian Private Banker.

A Credit Suisse veteran has joined the Liechtenstein pure-play as team head for Asia, Asian Private Banker has learnt. Marc Hagmann joined LGT this month as a senior investment advisor and team head for Asia, based in Zurich. He will be covering Asia clients that book their assets in LGT Zurich. Before LGT, Hagmann spent over 18 years at Credit […]

The post LGT hires Credit Suisse veteran to head up Asia coverage in Zurich appeared first on Asian Private Banker.

It has been a busy 2023 for Asia’s private banking headhunters, and the most recent quarter showed no signs of slowing down. The period from July to September was characterised by heavyweight people moves in the region, from CEOs, to market heads, to veteran RMs. While the integration of Credit Suisse into UBS continued to be a source of major […]

The post Revealed: The biggest Asian private bank people moves of 3Q23 appeared first on Asian Private Banker.

LGT has hired a managing director for its Hong Kong market as the Liechtenstein-headquartered private bank continues to beef up its APAC team. Eric Cheung arrived at the bank in August as managing director, people close to the matter told Asian Private Banker.  Before LGT, he was executive director at Julius Baer for over seven years. Cheung also worked at […]

The post LGT beefs up Hong Kong team with senior banker hire appeared first on Asian Private Banker.

A former Hong Kong-based senior client partner at Credit Suisse has joined LGT, Asian Private Banker has learnt. Xie Xiao Ying has joined the Liechtenstein-headquartered private bank as managing director in Hong Kong. A spokesperson for LGT did not immediately respond to a request for comment. Xie departed Credit Suisse in July this year after spending 11 years with the […]

The post Former Credit Suisse senior client partner joins Swiss pure-play appeared first on Asian Private Banker.

The Asia head of investment services of LGT Private Bank will depart the bank, Asian Private Banker can reveal. Hong Kong-based Tony Stanton is leaving the bank, according to people familiar with the matter. Stanton joined the Liechtenstein-headquartered private bank in 2010 as head of investments from Merrill Lynch, where he held the role of CIO for Asia. Asian Private […]

The post LGT Private Bank Asia investment head departs appeared first on Asian Private Banker.

LGT Wealth India has announced senior appointments to bolster its investment offerings. Chirag Doshi joined the bank as CIO for fixed income and will report to Rajesh Cheruvu, CIO for LGT Wealth India. In his new role, he will spearhead fixed income investments and build debt portfolio management services strategies. Reporting to Doshi, Abhishek Modi has been named as director, […]

The post LGT India adds senior investment specialists from Credit Suisse appeared first on Asian Private Banker.

Two years ago, Eugene Lim jumped from private banking to work at Web3 firm Matrixport. He explained to Asian Private Banker why his passion for product innovation drove him to follow this path. When the founders of Matrixport first shared their ambition to be “the private bank for [the] new asset class” with Lim, who was still a senior relationship […]

The post How this private banker made the move into digital assets 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.

LGT Private Bank has made two senior hires for its Thailand and Singapore franchises, Asian Private Banker has learnt. William Fok will join the bank as senior investment counsellor next week, based in Bangkok, people familiar with the matter told Asian Private Banker. LGT opened its Bangkok branch in 2018. Fok comes from HSBC Global Private Banking, where he spent […]

The post LGT Private Bank makes two senior hires for Singapore and Thailand appeared first on Asian Private Banker.

LGT Private Banking in Singapore has hired a new senior executive from Indosuez Wealth Management, Asian Private Banker can reveal. Anna Zhu has joined the Liechtenstein based pure-play as a managing director, and relationship manager, targeting the Greater China market. She was formerly a team leader at Indosuez. Her other private banking roles were at CIC, Credit Suisse and DBS […]

The post LGT hires managing director from Indosuez WM appeared first on Asian Private Banker.

The rise of Indian families with a more global outlook has created a surge in demand for wealth management (WM) services in one of the world’s fastest growing economies. LGT is determined to seize the opportunity. “The wealthy Indian families are definitely globalising, especially at the top of the pyramid. The next generation is looking out to study abroad, and […]

The post How LGT plans to seize the opportunity in India appeared first on Asian Private Banker.

LGT Bank (Singapore) has appointed two members to its board of directors with a view to strengthening its sustainability, ESG and sustainable investing expertise. Neo Gim Huay has been named as member of the Managing Board and head of the Centre for Nature and Climate at the World Economic Forum (WEF), responsible for climate and nature-related programmes and partnerships. Prior […]

The post LGT Singapore board adds two ESG specialists appeared first on Asian Private Banker.

LGT has conditionally agreed to acquire Australian wealth management firm Crestone Wealth Management at an offer price of A$475 million (US$338 million), subject to Crestone shareholders’ approval. The transaction, expected to complete in 1Q22, would give LGT a foothold in the Australian wealth management market, while allowing Crestone to expand its services and investment offering to clients. Desribing Crestone as […]

The post LGT acquires Crestone WM for A$475M appeared first on Asian Private Banker.

Few Asian markets hold greater potential for private banks than Japan. And yet few places seem more impenetrable than the region’s second biggest economy. A bewildering tangle of regulations conspires with a risk-averse culture to keep nearly US$18 trillion of household assets beyond reach. The deflation of the last 20 years only exacerbated the temptation to stuff cash under tatami […]

The post Private banks get serious about Japan at opportune moment appeared first on Asian Private Banker.

LGT on Thursday announced the opening of a wealth management branch in Japan, after having obtained regulatory approval. The office of LGT Wealth Management Trust Inc. (LGT Japan) is located at the Okura Prestige Tower in Tokyo and has a staff of over 35 to provide bespoke wealth management solutions to HNWIs and family-owned businesses in Japan. Yoshitaka Nagakura, who […]

The post LGT launches WM branch in Japan appeared first on Asian Private Banker.

HSBC Private Banking on Monday said it will launch its onshore private banking business in Thailand, as it seeks to tap into the rising wealth in emerging markets and expand its presence in Southeast Asia. The new private bank will be HSBC’s second onshore business in Southeast Asia, after Singapore, and provide clients access to international capital markets, according to […]

The post HSBC to launch onshore private banking in Thailand appeared first on Asian Private Banker.

This week: FlowBank: China’s equity markets are undervalued, under-owned and under-appreciated; LGT Private Banking: Equity markets vulnerable to setbacks this year; T. Rowe Price: Secular growth stocks, at the right price, should continue to compound good returns; BlackRock: Slowing of Fed easy policy hinges on signs of durable growth and employment momentum; PIMCO: Fed can successfully engineer a smooth shift […]

The post CIO Weekly – Featuring Charles-Henry Monchau of FlowBank appeared first on Asian Private Banker.

This week: EFG Bank: Global stock outperformers may soon change; LGT PB: V-shaped recovery of the major economies here to stay; Bank of Singapore: Opportunities for long term investors in short term market turbulence; UBS: Four potential attractive yield-generating opportunities; Capitalising on an ageing China, Credit Suisse introduces thematic equity baskets EFG Bank: Global stock outperformers may soon change US […]

The post CIO Weekly – Featuring EFG Bank’s Simon Godfrey appeared first on Asian Private Banker.

This week: Pictet WM: European recovery fund makes Europe equities interesting again; UBS GWM CIO: 2H20 reopening story a key driver of markets; BNP Paribas: China A-shares to see consolidation in the short term; Bank of Singapore: Euro likely to trade “sharply higher”; LGT Private Banking: More market headwinds in the short term Pictet WM: European recovery fund makes Europe […]

The post CIO Weekly – Featuring Pictet Wealth Management’s Evelyn Yeo appeared first on Asian Private Banker.

This week: HY market still underestimates impact of COVID-19: The Global CIO Office’s Johan Jooste; Julius Baer: Identify winners in this heterogeneous world; Lombard Odier increases US equity exposure, focusing on healthcare; UBS: Hong Kong national security law brings short term market shocks, but capital flight yet to be seen; LGT Private Bank still prefers corporate debt HY market still […]

The post CIO Weekly – Featuring the Global CIO Office’s Johan Jooste appeared first on Asian Private Banker.

The world’s largest family-owned PB and AM group is to be split into three in 2021. LGT Group has announced its decision to make its three business units — LGT Private Banking, LGT Capital Partners and Lightstone — into independent companies which will focus on private banking, asset management, and impact investing. The companies will be held directly by the Prince of Liechtenstein Foundation and […]

The post LGT Group to split into three separate firms in 2021 appeared first on Asian Private Banker.

Against the backdrop of the ongoing uncertainties surrounding COVID-19, LGT Private Banking has decided to increase the flexibility of its portfolio by increasing liquidity. “After last month’s reduction, equities remain at a neutral weighting, although we would prefer to take oversold stress situations as buying opportunities,” the bank said, adding that within the equities allocation, Europe remains tactically overweight against […]

The post LGT PB increases liquidity due to ongoing uncertainties appeared first on Asian Private Banker.

This week: Indosuez is urging investors to be patient for COVID-19 inflection point; UBS GWM cautions about risk assets as VIX index reaches two-year high; LGT PB increases liquidity due to ongoing uncertainties; DBS PB: “Negatives sufficiently priced in”; Raffles FO: To minimise risk, buy in tranches rather than ‘bottom fish’ Indosuez is urging investors to be patient for COVID-19 […]

The post CIO Weekly – Featuring Indosuez WM’s Arjan de Boer appeared first on Asian Private Banker.

This week: DBS identifies two segments to be resilient in China despite virus threat; LGT is de-risking by reducing equities; UBS: The emerging market story to change; Standard Chartered PB: Vigilant on US high yield; BNP Paribas WM: Digital consumption to be less vulnerable. DBS identifies two segments to be resilient in China despite virus threat DBS Bank believes China banks and e-commerce are […]

The post CIO Weekly – Featuring DBS Bank’s Hou Wey Fook appeared first on Asian Private Banker.

Against the backdrop of the outbreak of a new coronavirus in China and the upcoming US primary elections, LGT Private Banking Europe has decided to remove risks from the portfolio and reduce the equity exposure from overweight to a neutral position. “We are using – also due to seasonality – the strong past three months to realize gains,” the bank […]

The post LGT is de-risking by reducing equities appeared first on Asian Private Banker.

In this four-part series, Asian Private Banker takes a look back at the major events that have shaped the competitive landscape for APAC wealth management in each quarter of 2019. Links to the other quarters: 1Q19 | 2Q19 | 3Q19 | 4Q19 JULY VP Bank, Hywin WM ink strategic tie-up for HNW China market 11 Jul – Vaduz-based VP Bank […]

The post A year of handshakes, green lights, and ribbon-cutting: 3Q19 appeared first on Asian Private Banker.

Deutsche Bank WM upgrades equities to neutral; UBS GWM increases China credit positions; LGT PB: Global macroeconomy to bottom out; Pictet WM: Strong USD to lose steam in 2020; Morgan Stanley prefers Japan equities despite a lacklustre economy Deutsche Bank WM upgrades equities to neutral Due to stable economic growth, Deutsche Bank Wealth Management has upgraded equities from underweight to […]

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

LGT Private Banking expects the global macroeconomy to recover from a low base going into 2020 as leading economic indicators are showing positive signals. “While the industrial sectors (with their tradable output) remain mired in a contraction in many cases, the downward momentum has stopped deteriorating and is bottoming out,” the bank said. “In addition, some surveys in the US […]

The post LGT PB: Global macroeconomy to bottom out appeared first on Asian Private Banker.

In this four-part series, Asian Private Banker takes a look back at the major events that have shaped the competitive landscape for APAC wealth management in each quarter of 2019. Links to the other quarters: 1Q19 | 2Q19 | 3Q19 | 4Q19 FEBRUARY Schroders WM acquires IAM Thirdrock’s wealth management arm 1 Feb – Schroders Wealth Management struck the first […]

The post A year of handshakes, green lights, and ribbon-cutting: 1Q19 appeared first on Asian Private Banker.

LGT Private Banking is now advising clients to take on a barbell investment approach by increasing both equities and gold exposure at the expense of cash. Macroeconomic indicators are beginning to stabilise further, the bank pointed out, adding that market participants expect further relaxation on the geopolitical front. However, risks around growth outlooks and geopolitical events remain. “Despite possible progress […]

The post LGT PB plays ‘barbell’ by increasing equities and gold appeared first on Asian Private Banker.

This week: Noah WM says more opportunities will arise from EM than DM; Credit Suisse PB believes markets overestimating Fed rate cuts; LGT PB plays ‘barbell’ by increasing equities and gold; Pictet WM expects four rate cuts from Fed in 2020; and Standard Chartered PB says gold will benefit from the near-term equity market pullback. More opportunities to arise from EM than DM: […]

The post CIO Weekly – Featuring Noah’s William Ma appeared first on Asian Private Banker.

LGT CEO Prince Max von und zu Liechtenstein stated in a fireside chat at the Singapore Fintech Festival that the private bank will continue directing clients towards impact investing in an effort to change a financial system that has failed to adjust for broad-based market failures. In a conversation on Monday titled ‘The climate crisis: Our last chance to act’, […]

The post LGT’s Prince Max calls for change, says bank will drive clients towards impact investing appeared first on Asian Private Banker.

LGT Private Banking believes the environment for bonds remains very challenging, and urged investors to avoid long-term government bonds. “In this environment, we remain faithful to corporate bonds with appropriate quality and expect stable credit risk premiums despite the late-cyclical economic environment,” the bank said. “With regard to remaining maturities, we recommend avoiding very long maturities and even keeping a […]

The post LGT staying “faithful” to corporate bonds appeared first on Asian Private Banker.

This week: HSBC PB said the Fed to pause over the next two years after the rate cut this week; LGT staying “faithful” to corporate bonds; BNP Paribas WM sees potential investment growth in China next year; Bank of Singapore upgrades Europe stocks; and Deutsche Bank WM expects the Indian economy to recover next year. The Fed to pause over […]

The post CIO Weekly – Featuring HSBC PB’s Fan Cheuk Wan appeared first on Asian Private Banker.

LGT Private Banking believes it is still too early to cut risk exposure in portfolios, with the pure play remaining constructive on global equities. “Our main scenario remains a ‘buy the dip’ strategy and we will continue to pursue it consistently should opportunities arise in the coming weeks or months,” the bank said. Yet the bank is cautioning investors against […]

The post LGT Private Banking : “Too early to reduce risks” appeared first on Asian Private Banker.

This week: Deutsche Bank WM says US equities lack catalyst to break sideways trading; DBS PB’s Hou believes ‘hunt for yield’ will further extend to high-dividend equities; LGT Private Banking says it’s “too early to reduce risks”; Standard Chartered PB expects the USD to peak; and Credit Suisse PB increases equity exposure. Deutsche Bank WM: US equities lack catalyst to break […]

The post CIO Weekly – Featuring Deutsche Bank WM’s Juerg Schmid appeared first on Asian Private Banker.

A relationship manager who has been with Pictet Wealth Management for the better part of a decade has joined LGT Private Banking, Asian Private Banker has learnt. Hong Kong-based Sandro Gianella has been hired by LGT as a managing director and team head. He was with Pictet for almost eight years in a similar position and, before that, was a senior relationship […]

The post LGT nets senior client advisor from Pictet in Hong Kong appeared first on Asian Private Banker.

In a bid to improve RM efficiency, offer more convenience to clients, and stay ahead of technological disruption, Asia’s private banks have increasingly relied on and invested in their digital capabilities and solutions. In July, Asian Private Banker distributed its 2019 Mid-Year Private Banking Technology Snapshot Survey in the region to gain a clearer, aggregated understanding of where firms stand […]

The post Work in progress: The digitalisation journey so far for Asia’s private banks appeared first on Asian Private Banker.

This week: Indosuez WM expects Asia equities to diverge further; Standard Chartered PB ups bond exposure by 10 pps to diversify; UBS GWM allocates to high-yielding Asia stocks and currencies; LGT PB believes Fed will cut rates this month; and Pictet WM revises down 10-year Treasury yield. Indosuez WM: Asian equities to diverge further Despite a relatively synchronised slowdown in […]

The post CIO Weekly – Featuring Indosuez WM’s Arjan de Boer appeared first on Asian Private Banker.

LGT Private Banking believes it is likely the Federal Reserve could cut rates again before the end of September due to protracted geopolitical uncertainties. “The domestic economy [in the US] being in a precarious position and having to face aggravating geopolitical tensions at the same time is a challenge that last occurred during the Asian crisis 22 years ago,” the […]

The post LGT PB: Fed likely to cut rates this month appeared first on Asian Private Banker.

LGT has announced it will acquire Aspada, an India-focused impact investment fund from its sole shareholder, the Soros Economic Development Fund (SEDF), in a bid to grow the bank’s LGT Lightstone initiative and “shape the future of impact investing”. Launched in 2013 by the SEDF, Aspada manages a US$100 million portfolio comprising more than 15 impact investments which span agricultural supply chains, […]

The post LGT buys Indian impact investor from Soros Economic Development Fund appeared first on Asian Private Banker.

Despite the year-to-date rally across the board, bitter memories of 2018 and a precarious geopolitical climate had clients lingering on the sidelines in 1H, opting to wait for the uncertainty-riddled environment to turn. Investor timidity prompted private banks in the region to work overtime to convince clients to ignore short-term noise and stay invested, which lenders managed by offering more […]

The post 2Q19 private banking results highlights appeared first on Asian Private Banker.

LGT’s organic and inorganic expansion in Asia underscored the bank’s continuing growth trajectory in the first half of 2019, with AUM rising year-to-date despite a “subdued” first quarter, the Liechtensteinian firm reported today. According to the bank’s 1H results, net asset inflows saw an annualised 6% rise to total CHF 5.8 billion, while AUM rose 8% compared to end-2018 to […]

The post LGT posts 8% YTD AUM growth despite “subdued” Q1 appeared first on Asian Private Banker.

This week: J. Safra Sarasin believes EM local currency bonds offer investors the “most interesting” opportunities; UBP continues to favour China’s domestic-oriented sectors; LGT looks to US equities for defensive names; Credit Suisse PB trims risk exposure amid growth uncertainties; and HSBC PB makes different duration calls on credit and govvies. J. Safra Sarasin: “Most interesting” fixed income opportunities lie […]

The post CIO Weekly – Featuring J. Safra Sarasin’s Philipp Baertschi appeared first on Asian Private Banker.

Growing more bearish, Hong Kong and Singapore HNWIs are turning to US equities for shelter even though the asset class is recording all-time highs, according to LGT Asia’s chief investment strategist. Stefan Hofer told Asian Private Banker at a media briefing yesterday that, historically, the US equity market has exhibited “very defensive” characteristics, with lower beta than its global counterparts. “They’re […]

The post HNWIs turn to US equities for defensive names: LGT’s Stefan Hofer appeared first on Asian Private Banker.

LGT has acquired a substantial majority stake in Validus Wealth — an Indian wealth management firm hitherto known as WGC Wealth — clearly signalling its intentions for an India onshore play amid a wider Asia expansion. “Validus Wealth represents an excellent opportunity for us to gain a foothold in the highly promising Indian market and work together over the coming […]

The post LGT makes India onshore move via M&A appeared first on Asian Private Banker.

This week: Indosuez WM takes profit from the bond market given heightened prices; UBS GWM believes the tech sector offers further upside; Standard Chartered WM says capital market valuations are not yet stretched; LGT PB ups IG bond holdings; and Credit Suisse sees short-term opportunities in the banking sector. Indosuez WM takes profit from bond market given heightened prices Indosuez […]

The post CIO Weekly – Featuring Indosuez WM’s Arjan de Boer appeared first on Asian Private Banker.

LGT Private Banking has tactically increased exposure to investment grade corporate bonds at the asset allocation level. “Due to our cautiously optimistic economic outlook, corporate bonds should continue to yield better yields than government bonds, which remain underweighted,” the bank said, adding that owing to a forecast of robust global GDP growth in 2019, it has upgraded the asset class […]

The post LGT Private Banking ups IG bond holdings appeared first on Asian Private Banker.

LGT Bank has inked a strategic cooperation agreement with China Renaissance, the mainland-headquartered investment bank it took a US$25 million stake in late last year after it listed in Hong Kong. According to a media release distributed Wednesday evening, the two banks have agreed to share resources both in China and internationally, and will jointly provide global wealth management services to […]

The post LGT inks agreement with Chinese investment bank appeared first on Asian Private Banker.

Asian HNW investors expect the Sino-US trade tensions to settle in the second half of 2019 and anticipate a slight improvement in global economic conditions, according to the results of LGT’s first Asia Investor Sentiment survey. Almost 50% of those surveyed believe the overall global economy will “improve slightly” over the coming three months, with Singapore investors proving more optimistic […]

The post HNW investors “bearish on CNY” despite optimism around trade disputes: LGT appeared first on Asian Private Banker.

LGT has opened the doors to its Thailand operations, following months of industry speculation over the pure play’s ambitions in the red-hot Southeast Asian market. That included just what form LGT’s go-to market strategy would take and who would receive the official seal of approval to oversee the setup. Those questions were answered today when the bank announced it had […]

The post LGT’s Thailand business goes live appeared first on Asian Private Banker.

This week: DBS PB says Asian govvies are likely to perform “much better” than they did in 2018; Standard Chartered WM expects Asia ex-Japan equities to see an inflection point; BNP Paribas WM shares its view on recession risks and yield curve inversion; LGT PB urges investors to move to liquid assets; and Nomura believes Asian equities will benefit from increasingly defensive […]

The post CIO Weekly – December 2018 Week 2 appeared first on Asian Private Banker.

Rather than advise investors to search for uncorrelated returns and favour the alternatives space amid increased market volatility, LGT Private Banking is urging clients to increase exposure to more liquid assets. “Our overweight in gold and yen are two further stabilising factors. In times of increasing volatility, the tradability of instruments is of central importance as it increases the flexibility […]

The post LGT PB: Partial to liquid assets and “significantly” underweight on alts appeared first on Asian Private Banker.

This week: HSBC PB shares its view on US equities; UBS GWM discusses A-shares following a disappointing Q3 earnings season; DBS Bank tells investors to be aware of falling oil prices; Pictet WM offers its long-term outlook for the RMB; and LGT Private Bank explains why it increased US equities exposure in its TAA. HSBC PB: More promising US outlook, especially […]

The post CIO Weekly – November 2018 Week 2 appeared first on Asian Private Banker.

LGT Private Bank has increased US equity exposure as it believes the October market meltdown provides a good opportunity to reduce cash and increase US stock market allocations. “The US midterm elections have brought the expected outcome. Historically, it has often laid the foundation for a year-end rally,” the bank said. “The share buyback programmes in the US are resuming […]

The post LGT PB increases US equity exposure appeared first on Asian Private Banker.

This week: Credit Suisse Private Banking shares its take on emerging market bonds, LGT Private Banking comments on US and emerging market equities, Pictet WM revises up its Japan GDP forecast, Bank of Singapore cautions that a tight labour market indicates inflation risks in the US, and J. Safra Sarasin reduces European inflation forecast for next year. Credit Suisse Private Banking: “Interesting entry opportunity” […]

The post CIO Weekly – September 2018 Week 2 appeared first on Asian Private Banker.

LGT Private Banking forecasts a wider divergence between US equities and EM stocks as a rising rate environment tends to impact EM markets more significantly. “Market participants are currently focusing primarily on strong earnings growth [in the US stock market] and ignoring imponderables such as the imminent trade conflict or geopolitical tensions,” the bank said. “Even the strengthening of the US […]

The post LGT PB: US equities: “top”, emerging markets: “flop” appeared first on Asian Private Banker.

A former managing director at LGT has resurfaced as a partner at a Hong Kong-based asset management firm. John Holmes has joined Swiss International Asset Management (SIAM) as a partner and senior relationship manager. He brings with him more than two decades of experience in Hong Kong, including 11 years at LGT, most recently as managing director, and six years at […]

The post Veteran banker joins HK-based IAM appeared first on Asian Private Banker.

LGT has partially credited its acquisition of ABN AMRO’s Asian and Middle Eastern private banking businesses last year to the pure play’s significantly higher revenues and profits in the first half of 2018. “Last year, we successfully completed the integration of ABN AMRO’s private banking business in Asia and the Middle East,” Dr Henri Leimer, CEO of LGT Private Banking Asia, […]

The post LGT posts 15% growth in 1H18 profits, post-acquisition Asia arm makes a “healthy contribution” appeared first on Asian Private Banker.

The rank and file of former ABN AMRO relationship managers who joined LGT’s Hong Kong office as part of its acquisition of ABN’s private banking business in Asia and the Middle East is thinner than ever following recent layoffs and resignations. Insiders have told Asian Private Banker on the condition of anonymity that the number of Hong Kong-based ex-ABN relationship managers […]

The post LGT’s ex-ABN banker population in HK has almost halved amid strong business momentum appeared first on Asian Private Banker.

Welcome to Asian Private Banker’s latest CIO Weekly, a focused roundup of key views and comments from private banking CIOs on the state of global markets and macroeconomics. This week: J. Safra Sarasin shares its positive view on US equities, Bank of Singapore comments on the USD, LGT urges investors to be cautious of long-dated bonds, Pictet WM expects ongoing tariffs to […]

The post CIO Weekly – July 2018 Week 2 appeared first on Asian Private Banker.

LGT Private Banking says in its latest investment note that long maturity bonds remain unattractive, although in the first half of 2018 the yields of long-dated bonds have risen sharply. This is mainly due to the expectation of a phase of consolidation among interest rates on long-dated US government bonds, the bank explained. “The yield curve is so flat that […]

The post LGT: Long maturity bonds remain unattractive despite sharply increased yields appeared first on Asian Private Banker.

Welcome to Asian Private Banker’s CIO Weekly, a focused roundup of key views and comments from private banking CIOs on the state of global markets and macroeconomics. This week: LGT and J. Safra Sarasin share their tactical asset allocation updates, UBS and UBP comment on the inclusion of China A-shares in MSCI, and Julius Baer updates commodities view. LGT: US […]

The post CIO Weekly – May 2018 Week 3 appeared first on Asian Private Banker.

LGT has selected Appway, the Swiss-based fintech firm, to digitise its operational and client-facing processes globally. The Liechtenstein private bank said today that it will begin the first phase of the project this month by introducing an optimised customer onboarding process for its head office as well as its private banking branches in Hong Kong, Singapore, Switzerland and Austria. Using […]

The post LGT picks Appway for client onboarding to offboard processes appeared first on Asian Private Banker.

LGT’s recent spree of acquisitions added CHF 18 billion to its global, pushing group AUM past the CHF 200 billion mark at the end of 2017. The Liechtensteinian private banking and asset management firm rounded out the year with CHF 201.8 billion in AUM, up 32.7% YoY, with net new asset inflows contributing some CHF 17.7 — an annualised increase […]

The post Acquisitions, solid NNM flows buoy LGT’s AUM appeared first on Asian Private Banker.

LGT has added a former Bank of China International (BOCI) international banker to its stable in Hong Kong, Asian Private Banker can reveal. Clarence Sequeira has joined LGT in Hong Kong. A spokesperson for the bank did not respond to a request for comment. Sequeira was previously part of BOCI’s private banking international desk in Hong Kong for more than […]

The post LGT nets former BOCI international banker appeared first on Asian Private Banker.

A former LGT banker who shifted over to the pure play on the back of its ABN AMRO Private Banking acquisition, has taken a role at a Singaporean lender, Asian Private Banker has learnt. Rajeev Ramanathan has joined DBS Private Bank, based in Hong Kong. Ramanathan was at LGT from May to September. Prior to that, he worked at ABN […]

The post Former LGT banker moves to DBS Private Bank appeared first on Asian Private Banker.

Although government bonds in developed markets are still trading in “a narrow range”, LGT believes this phenomenon will soon revert due to long-term rising interest rates. Accordingly, the private bank urges investors to be cautious on sovereign bonds. Accommodative monetary policies along with quantitative easing from the European Central Bank (ECB) and the Japanese central bank (BoJ) continue to have […]

The post LGT: Cautious on sovereign bonds appeared first on Asian Private Banker.