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.

RBC Wealth Management Asia has appointed a series of senior private bankers across Hong Kong and Singapore to strengthen its regional presence. Cherry Wang was appointed as an executive director in Singapore, the firm announced in a statement on Monday. With over 15 years of experience in private banking, Wang most recently worked for Julius Baer. She has also held […]

The post RBC WM appoints six more bankers in Hong Kong and Singapore appeared first on Asian Private Banker.

Digital wealth platform Endowus has partnered with fixed income manager RBC BlueBay Asset Management to deliver credit strategies to Asian investors. Through the partnership, professional and accredited investors in Hong Kong and Singapore will gain access to RBC BlueBay’s fixed income platform, Endowus announced in a statement on Wednesday. As the fixed income manager of RBC Global Asset Management outside […]

The post Endowus partners with RBC subsidiary to broaden credit access appeared first on Asian Private Banker.

The private banking hiring market picked up in July, with J.P. Morgan Private Bank emerging as one of the most discussed names among headhunters in APAC. Key industry hires in July include Francis Liu, former CEO, private clients, Asia at Lombard Odier, joining Nomura International Wealth Management as North Asia head, succeeding Rudolf Hitsch. BNP Paribas Wealth Management appointed two […]

The post Movers & Shakers: Decoding J.P. Morgan Private Bank’s hiring spree appeared first on Asian Private Banker.

RBC Wealth Management (RBC WM) has deepened its private banking bench across its key Asia booking centres with a string of senior hires in Singapore and Hong Kong, as the Canadian bank continues to expand its footprint in the region. In Singapore, the bank appointed Wilson Khoo as a managing director. With over twenty years of experience serving mainland Chinese […]

The post RBC WM adds senior private bankers in Hong Kong and Singapore appeared first on Asian Private Banker.

June saw a fresh wave of moves in Hong Kong, with RBC Wealth Management and J. Safra Sarasin leading key hires, joined by other firms across private banking and asset management amid a series of appointments and exits following May’s Middle East momentum. Key private banking personnel moves last month included Nick Yim, head of Private Wealth Management (PWM) for […]

The post Movers & Shakers: Inside RBC WM’s hiring game plan, J. Safra Sarasin steps up hiring appeared first on Asian Private Banker.

RBC Wealth Management (RBC WM) has hired several senior private bankers in Hong Kong from UBS and other major private banks in the region, Asian Private Banker has learnt. The new hires will support clients in Mainland China, Hong Kong and Taiwan, and help expand the bank’s regional presence in Asia, the Canadian lender said in a statement on Tuesday. […]

The post RBC WM adds senior private bankers from larger rivals to Hong Kong team appeared first on Asian Private Banker.

Since taking up the mantle of Asia head late last year, Rod Ireland has had his hands full managing RBC Wealth Management’s (RBC WM) business in the region while still retaining the role of head of global markets for APAC. The Australian was appointed as the permanent head of Asia for RBC WM in December last year following Terence Chow’s […]

The post Inside Rod Ireland’s Asia strategy for RBC Wealth Management appeared first on Asian Private Banker.

RBC Wealth Management (RBC WM) has hired several Credit Suisse veterans for its Singapore and Hong Kong teams, the bank announced on Monday. In Singapore, Daniel Soo will be RBC’s managing director and market head. With 28 years of experience covering Southeast Asia and Greater China markets, Soo joins from UBS, where he was also managing director and market team […]

The post Credit Suisse bankers resurface at RBC WM in HK and SG appeared first on Asian Private Banker.

RBC Wealth Management (RBC WM) has hired a market head in Singapore from UBS Global Wealth Management (UBS GWM), Asian Private Banker has learnt. Daniel Soo has recently joined the Canadian private bank as a managing director and market head, according to a personal LinkedIn update. Before that, Soo was a managing director for over eight years at Credit Suisse. […]

The post Former UBS market team head in Singapore joins RBC WM appeared first on Asian Private Banker.

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

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

Private banks are confident that a surge in US inflation will peak in the coming months, even after prices in the world’s largest economy rose 7% YoY in December, the highest monthly increase since June 1982. This fuelled worries by the US Fed about the impact of higher inflation on the economic recovery. During his renomination hearing on Tuesday, Fed […]

The post Private banks believe US inflation will peak in coming months appeared first on Asian Private Banker.

Weaker domestic growth and the potential of external risks may result in continued volatility in Chinese asset classes, noted Deutsche Bank International Private Bank. In 20 years’ time, China’s GDP growth could slip to 3.5%, according to a forecast by the Royal Bank of Canada. Domestic weakness In the run-up to the Winter Olympics in February, China seems to be […]

The post With GDP growth on a downward trajectory, brace for volatility in Chinese asset classes: Deutsche Bank IPB appeared first on Asian Private Banker.

Friday’s key US Federal Reserve gathering at Jackson Hole may yield hints about the timeline for dialling back (“tapering”) its pandemic-era stimulus programme. Many believe that Fed chair Jerome Powell is likely to make a formal announcement on tapering in 4Q21, and that he would provide a clear signal at one meeting before the actual announcement. Compared to Powell’s message […]

The post No major surprises expected at Jackson Hole Fed gathering appeared first on Asian Private Banker.

RBC Wealth Management has hired an executive director to head a newly created Hong Kong private bank team. Reporting to Ignatius (Iggy) K.K. Chong, RBC Wealth Management’s head of private banking for Greater China, Xygent Chan will lead and grow client relationships for the firm’s private banking business in the region. Chan brings in over 30 years of industry experience. […]

The post RBC WM hires executive director in Hong Kong appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: How is your bank optimising the utility of the relevant digital tools to prepare frontline staff for client engagement […]

The post Final Word 2020: Client engagement in post-pandemic environment appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: Where do you see the best application of data analytics/machine learning in private banking? Lok Yim, Deutsche Bank We […]

The post Final Word 2020: Data analytics and machine learning appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: What key investment themes shape your bank’s 2021 outlook — and why? Tan Siew Meng, HSBC Private Banking Asia […]

The post Final Word 2020: Top investment themes appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: From a portfolio perspective, how important will (a) Chinese assets and (b) alternative investments be for delivering clients’ objectives […]

The post Final Word 2020: Views on Chinese assets and alternative investments appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: NNA gathering and account opening have proven challenging in a pandemic-affected world. If we continue to experience lockdowns and […]

The post Final Word 2020: NNA gathering and account opening appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: In what ways has the COVID-19 pandemic irrevocably changed the private banking industry and your own bank’s approach to […]

The post Final Word 2020: How COVID-19 changed the private banking industry appeared first on Asian Private Banker.

The ‘Final Word’ series is a year in review by the region’s private banking leaders as they share their thoughts and opinions on key issues around industry trends, business performance, investments, regulations, and technology. For this instalment, Asian Private Banker asked: Few can deny the importance of Asia’s onshore wealth markets — in terms of asset pools and the need […]

The post Final Word 2020: Asia’s PBs and the onshore opportunity appeared first on Asian Private Banker.

RBC Wealth Management has partnered with iCapital Network in a bid to enhance its alternative investments offering for clients globally, beginning in Asia. The partnership will allow RBC Wealth Management clients to more easily access alternative investments — such as private equity, private credit, and hedge funds — in a customised manner using technology. “We are increasingly working with Asia’s […]

The post RBC WM partners with iCapital to expand alts offering appeared first on Asian Private Banker.

RBC Wealth Management has hired a senior banker to help grow the bank’s footprint in China. Ida Lew joined the bank in November as director, head of strategic initiatives, Greater China, where she will support the business development with a strategic focus on deepening the bank’s relationships with Asia’s global families in the region. Based in Hong Kong, she reports […]

The post RBC WM hires senior China banker appeared first on Asian Private Banker.

RBC Wealth Management has selected the head of investments for its wealth management international and wealth management Asia business. Juan Aronna has been named in the new role at the Canadian bank. Effective 1 November 2020, Aronna will be leading RBC Wealth Management’s investments teams in London, Jersey, Singapore, and Hong Kong. He will report to Maarten Jansen, head, investments […]

The post RBC WM names head of investments international and Asia appeared first on Asian Private Banker.

The demand for fixed income strategies — the core portfolio of a typical Asian HNW investor — has returned since the March sell-off, but has still not reached pre-pandemic levels. “Client activity has returned since the March sell-off and year to date we have turned positive in terms of net inflows,” Rodolphe Larqué, head of managed solutions, APAC, Credit Suisse […]

The post HNWI demand for bond funds returns, but not yet to pre-COVID levels appeared first on Asian Private Banker.

This week: RBC Wealth Management: Asian HY shows better fundamentals and valuations; UBS GWM: Better earnings outlook and attractive valuations set to benefit Asian assets; UBP pivots to alpha-focused equity strategies while adding put protection in June; Morgan Stanley has “greater confidence” in V-shaped recovery; Standard Chartered Private Bank: Return of cyclical sectors indicative of increased optimism RBC Wealth Management: […]

The post CIO Weekly – Featuring RBC WM’s Tam Chun Him appeared first on Asian Private Banker.

This week: BNP Paribas WM favours Asia HY versus its developed market counterparts; UBP: Global economy to rebuild strength in 2H20; Pictet WM stay positive on China despite overall underweight call on equities; UBS GWM: Risk of a second dip is moderate in Asia market BNP Paribas WM favours Asia HY versus its developed market counterparts Asian high yield (HY) […]

The post CIO Weekly – Featuring BNP Paribas WM’s Prashant Bhayani appeared first on Asian Private Banker.

RBC Wealth Management — armed with its ‘Asia’s Global Families’ (AGF) offering — has found its niche in Southeast Asia, with Mike Reed, the Canadian bank’s Southeast Asia head of wealth management, calling the region a bountiful but under-tapped market. “Southeast Asia is a hidden gem. We’re finding huge amounts of opportunity with some of our existing clients and we’re […]

The post RBC WM’s Reed sees opportunity aplenty in SEA with ‘Asia’s Global Families’ strategy appeared first on Asian Private Banker.

RBC Wealth Management’s senior line-up in the region continues to evolve, most recently with the internal appointment of a new Asia head. Terence Chow has been named Asia head for the Canadian wealth manager, effective 1 November. He has so far spent 15 years with RBC across its wealth management and capital markets businesses, spending the majority of his tenure […]

The post RBC WM appoints new Asia head appeared first on Asian Private Banker.

Asia’s HNWIs, particularly next-gen investors, are more committed to ESG than their Western counterparts, according to RBC Wealth Management’s latest study, the firm’s Southeast Asia head told Asian Private Banker. A survey conducted by the Economist Intelligence Unit on behalf of RBC Wealth Management found that 72% of Asian HNWIs agreed that ESG factors are increasingly important, compared to 43% in […]

The post Asian HNWIs more committed to ESG than Western counterparts: RBC WM appeared first on Asian Private Banker.

RBC Wealth Management has expanded headcount in Asia by two in a bid to bolster its ‘Asia’s Global Families’ value proposition. Based in Hong Kong, Andrew Cheng has joined as executive director, private banking. He reports to Vicky Lin, who joined RBC WM as deputy head of private banking for Greater China in June. Cheng brings with him more than […]

The post RBC WM adds to Hong Kong and Singapore teams appeared first on Asian Private Banker.

RBC Wealth Management has hired two veteran private bankers to help drive its private banking business in Asia, Asian Private Banker has learnt. Hong Kong-based Vicky Lin has been hired by the Canadian lender as deputy head of private banking for Greater China. She reports to Ignatius (Iggy) Chong, RBC WM’s head of private banking for Greater China, and will […]

The post RBC WM hires two veterans in HK, SG to drive regional growth appeared first on Asian Private Banker.

Global fund distribution platform MFEX has expanded its Asia business by acquiring RBC Investors & Treasury Services’ (RBC I&TS) global fund platform and setting up its Kuala Lumpur office. “The acquisition is going to increase our footprint here in Asia in terms of headcount, but also in terms of presence and market share,” Steffen Ahlers, CEO of MFEX Singapore, told […]

The post MFEX to acquire RBC’s global fund platform and set up KL office appeared first on Asian Private Banker.

The recent major revamp of EFG Bank’s senior leadership in Asia will reach a crescendo when the bank unveils its replacement for Kong Eng Huat, who will retire as Singapore CEO before the end of the year. Asian Private Banker understands EFG will name Tho Gea Hong, RBC Wealth Management’s former head of Southeast Asia, as Kong’s replacement. A spokesperson for the […]

The post EFG Bank set to unveil new Singapore CEO appeared first on Asian Private Banker.

EFG’s leadership ranks in Asia are set to receive a major facelift at a time when the Swiss bank is searching for growth momentum after a disruptive BSI acquisition. The changes will impact both booking centres in the region. Kong Eng Huat, EFG’s chief executive for Singapore and Southeast Asia, will retire before the end of the year, after almost […]

The post EFG in Asia leadership revamp appeared first on Asian Private Banker.

RBC Wealth Management recovered revenues in the first quarter of 2018 but continues to shed client assets, according to the lender’s first financial report of the year. The Canadian bank’s international wealth management business, which encompasses Asia, the UK and the Channel Islands, reported a 10.6% increase in revenue QoQ from C$85 million to C$94 million. At the same time, […]

The post RBC’s international wealth management business posts Q1 revenue rebound appeared first on Asian Private Banker.

Responding to rife market speculation on the possible sale of its Asian private banking business, the Asia private banking head of Royal Bank of Canada has reiterated the bank’s commitment to the region. Peter Corry, the Asia private banking head of RBC, told Asian Private Banker in an exclusive interview that the bank is continuing to invest the Asia market […]

The post RBC WM’s Peter Corry reaffirms commitment to Asia appeared first on Asian Private Banker.

More than two thirds of Hong Kong’s HNWIs do not have a wealth transfer plan or will in place – the highest among Asian peers – putting the population at the “highest wealth transfer risk”, according to a recent report from RBC Wealth Management. The Asia Pacific Wealth Transfer report found that almost 70% of Hong Kong respondents do not […]

The post Hong Kong’s HNWIs face “highest wealth transfer risks” in Asia: RBC WM appeared first on Asian Private Banker.

Amid a raft of other changes, RBC Wealth Management has appointed a new head of wealth management operations for Asia, shortly after the private bank’s COO for the region moved into another division within the group, Asian Private Banker can reveal. Noreen Devine has been appointed head of RBC Wealth Management – Asia operations, and will relocate from the private […]

The post More senior management changes at RBC WM Asia appeared first on Asian Private Banker.

RBC Wealth Management’s Asia COO has stepped into a new role within the bank’s asset management arm, Asian Private Banker has learnt. Stefan Mueller is no longer Asia COO of the Canadian private bank, having moved into the role of managing director, next generation asset management, at RBC Global Asset Management, based in Singapore. A spokesperson for the bank confirmed […]

The post RBC WM’s Asia COO vacates role appeared first on Asian Private Banker.

RBC’s international wealth management business saw its assets under management (AUM) decline by 4% QoQ and 3% YoY in the third quarter through July, following a healthier second quarter, according to the bank’s earnings report released on Wednesday. The Canadian lender’s international wealth management unit – which includes Asia and the British Isles – had C$9.2 billion in AUM at […]

The post RBC’s international wealth management business sees AUM decline in Q3 appeared first on Asian Private Banker.

RBC’s international wealth management business grew assets under management (AUM) by 4.3% YoY and 7.9% QoQ, following two consecutive quarters of declines, according to the bank’s quarterly earnings released on Thursday. The Canadian lender’s international wealth management unit – which includes Asia and the British Isles – had C$9.6 billion in AUM at the end of the second quarter through […]

The post RBC’s international wealth management AUM up 4.3% YoY appeared first on Asian Private Banker.

While Asian Private Banker’s annual AUM League Table saw three new additions this year (UOB Private Bank, BOC(HK) Private Banking and Union Bancaire Privee), one notable omission was RBC Wealth Management, the Canadian private bank that ranked 20th in 2015 with US$13 billion in Asia assets under management. Since the beginning of 2017, speculation has grown over RBC Wealth Management’s ambitions in Asia, and though the […]

The post RBC WM drops out of Asia’s top 20 in 2016 appeared first on Asian Private Banker.

RBC Wealth Management has hired from UBS Wealth Management in Singapore to replace its Singapore-based Asia head of UHNW client coverage. The Canadian lender has picked Tam Chun Him to take on the duties of the Canadian lender’s former Asia head of UHNW services, Monica Chan, who left the bank last month. Sources indicate that Tam will also double up as […]

The post RBC WM hires from UBS to fill Asia head of UHNW coverage role appeared first on Asian Private Banker.

RBC has stated for the record that it “remain[s] committed to the region”, after rumours surfaced that the Canadian lender is reviewing its Asia wealth management business and could look to exit. A spokesperson for the bank told Asian Private Banker: “We don’t comment on rumours or speculation, but I can tell you that we serve an important high net worth and ultra […]

The post RBC WM says it “remain[s] committed to the region” despite market rumours appeared first on Asian Private Banker.

RBC Wealth Management has appointed a new international wealth head for the UK and Asia. Ashif Ratanshi will take on the role from 1 May and will oversee the UK, Channel Islands and Asia, according to media reports. He will report to Doug Guzman, group head of wealth management and insurance, based in London. Ratanshi joins from parent company, RBC, where he was […]

The post RBC Wealth Management names new international head for UK and Asia appeared first on Asian Private Banker.

A former team head for ANZ’s private bank has joined RBC Wealth Management, Asian Private Banker can reveal. Rohit Bhalla has joined the Canadian lender as executive director and team head, based in Singapore. He reports to Tho Gea Hong, head of wealth management, Southeast Asia. Bhalla worked with ANZ Private Bank for more than five years in various positions. He also spent […]

The post RBC WM hires ex-ANZ private banker as team head appeared first on Asian Private Banker.

After a less-than-stellar Q2 performance, RBC’s wealth management (WM) division has rebounded on the back of strong results from its City National business that was acquired in 2015. However, the Canadian lender’s international WM arm – which includes its Asia-based business – posted a drop in revenue, both in quarterly and yearly terms. Overall, WM net income for Q3 inched […]

The post RBC’s international WM revenues slip further appeared first on Asian Private Banker.

RBC Wealth Management has named its new Greater China market head in what is an internal promotion. Ignatius Chong has been appointed managing director and head of private wealth, Greater China. Chong reports to Peter Corry, head of wealth management, Asia and will be tasked with expanding the firm’s private wealth offering in the Greater China region. He joined RBC in […]

The post RBC WM promotes Greater China market head appeared first on Asian Private Banker.

RBC Wealth Management’s former North Asia head has found a new Hong Kong-based home. Michael Yong-Haron has resurfaced at Standard Chartered Private Bank in Hong Kong,  three months after Asian Private Banker first reported his exit from the Canadian lender. A spokesperson for the bank could not be reached for comment. Yong-Haron spent two years with RBC Wealth Management as a managing director […]

The post Ex-North Asia head for RBC WM resurfaces appeared first on Asian Private Banker.

It is already widely known that assets under management (AUM) growth for Asia’s top 20 private banks ground to standstill in 2015, as revealed by Asian Private Banker’s annual AUM League Table published in April this year; but this trend is also pervasive at the global level, with the world’s top 25 banks recording an average year-on-year (YOY) drop of […]

The post Global AUM slip, but Asia’s PBs increase their share – marginally appeared first on Asian Private Banker.

BMO Private Bank has become the second Canadian player in Asia to experience a talent outflow this month, amidst a difficult market slump and rising RM attrition rates. Hong Kong-based Daniel Ho, former managing director at BMO Private Bank, is believed to have left the Canadian bank after a four-year stint. Ho first joined BMO as part of its acquisition of […]

The post BMO Private Bank loses Asia-based managing director appeared first on Asian Private Banker.

The Royal Bank of Canada’s (RBC) international wealth management arm, which includes its Asia businesses, has recorded its second quarterly drop in assets under management (AUM) and revenue this year, in its latest financial results. The private bank’s international AUM for Q2 dropped 9% on the previous quarter, to C$9,2 billion (US$7.1 billion). In year-on-year terms, AUM plummeted 47%, from C$17.3 billion (US$13.3 […]

The post RBC WM international AUM drop 47% YOY appeared first on Asian Private Banker.

Change is afoot at RBC Wealth Management in Asia, as its regional head steps down, bringing to a close a career spanning over 25 years. Barend Janssens will step down as head, RBC Wealth Management – Asia on 10 June 2016. He will be succeeded by Peter Corry, who is currently vice president, strategic initiatives and change management, finance. According […]

The post RBC WM’s Asia head steps down, will be replaced by “change management” specialist appeared first on Asian Private Banker.

Facing squeezed margins and tough competition, RBC Wealth Management is looking to consolidate its platforms in Hong Kong and Singapore into a single platform, Asian Private Banker has learnt.  According to individuals who are close to the matter, RBC Wealth Management is doing this to increase efficiencies and slash operating costs. “The idea is to leverage Hong Kong’s brokerage model and Singapore’s private […]

The post RBC Wealth Management to consolidate platforms in Asia appeared first on Asian Private Banker.

Two years after joining RBC Wealth Management, the Canadian private bank’s head of North Asia has stepped down to pursue opportunities elsewhere. Michael Yong-Haron, managing director and head of RBC Wealth Management, North Asia, has left the Canadian lender after joining from Credit Suisse in early 2014. In the interim, Yong-Haron’s role is believed to have been taken over by […]

The post RBC Wealth Management’s North Asia head exits appeared first on Asian Private Banker.

In a quarter marked by muted client activity, RBC Wealth Management (WM) bested its North American private banks in terms of first quarter financials, increasing revenues by 36.6% quarter-on-quarter (QOQ). RBC WM’s stellar growth is largely attributable to the group’s acquisition of Los Angeles-based bank City National Bank, which contributed US$42 million to its total wealth management earnings. As a result, revenue for […]

The post RBC WM leads American peers in Q1 revenue growth appeared first on Asian Private Banker.

RBC Wealth Management’s chief operating officer (COO) for its emerging markets business is leaving, Asian Private Banker has learned. After four years with the Canadian lender, Samir Dewan is leaving his Singapore-based post. Dewan previously worked at ABN AMRO, where he was regional chief financial officer and COO for private banking in Asia. He has also done stints with Bank of […]

The post RBC WM’s emerging markets COO leaves appeared first on Asian Private Banker.

The wealth management (WM) arm of Royal Bank of Canada has named a former EFG senior banker to oversee its Southeast Asia (SEA) operations. Based in Singapore, Tho Gea Hong will be responsible for providing “strategic direction and managerial counsel” for the SEA business, RBC WM said. She will report to Barend Janssens, RBC WM’s Asia head. Tho has 27 years […]

The post RBC WM hires SEA head appeared first on Asian Private Banker.

Despite ongoing talks about the sale of its Asia private banking arm, the UK lender has named a new head of wealth and investment management for Singapore. Andrew Tailby-Faulkes is the new head of the division, based in Singapore. His promotion comes shortly after the departure for Didier von Daeniken, who used to lead Barclays’ private banking business for Asia […]

The post Barclays names new head of wealth and investment management appeared first on Asian Private Banker.

(This article first appeared in Issue 96 of Asian Private Banker’s monthly print magazine, published in the first week of February 2016.) A simple plan of attack for banks when interest rates rise is the pushing of short duration funds or securities. But in order to get any significant yield from this, investors will need to increase the credit risk by buying say, higher yielding bonds. Sounds […]

The post Crow’s Nest: Fixed income business limited to select banks? appeared first on Asian Private Banker.

After holding several roles in Singapore, including being head of Southeast Asia at RBC Wealth Management (WM), a career banker has resurfaced at a pure play. Grace Barki has joined Pictet as managing director covering Southeast Asia, based in Singapore. When contacted, a spokesperson from Pictet confirmed the hire. Prior to her role as head of Southeast Asia for the Canadian lender, […]

The post Former RBC WM Southeast Asia head resurfaces appeared first on Asian Private Banker.

It is perhaps a reflection of how markets have gone that veteran private bankers like Janssens are more cautious when it comes to growth forecasts these days. Last month, we spoke to him about how RBC’s wealth management unit should grow in Asia while coping with a higher regulatory burden and China’s economic slowdown. (This article first appeared in Issue 96 of Asian Private […]

The post Straight Talk: Barend Janssens, head of wealth management, Asia, The Royal Bank of Canada (RBC) appeared first on Asian Private Banker.

As the industry continues to witness senior management shuffles in the region, an ex-Coutts executive has moved to RBC Wealth Management as its new team head. Shirley Tang is the new managing director and team head, Asia for the Canadian lender based in Hong Kong, as of January 2016. She is now responsible for leading a team of relationship managers […]

The post Former Coutts exec moves to RBC WM as Asia team head appeared first on Asian Private Banker.

The German lender’s new global head of wealth management (WM) said in an internal memo earlier this week that the bank aims to become one of the world’s top five wealth managers. Fabrizio Campelli, global head of Wealth Management, reportedly said in the note that the bank would move toward minimising risks in a “challenging regulatory and control environment”, and […]

The post Deutsche Bank aiming to crack global top five WM spots appeared first on Asian Private Banker.

Shortly after a veteran banker and his team decided to move from ABN AMRO Private Bank to J Safra Sarasin, Asian Private Banker has learnt that another banker will join them. Kara Walsh has resigned from her post at ABN AMRO Private Banking where she worked on the international desk, then reporting to Feroze Sukh, to join J Safra Sarasin. […]

The post J. Safra Sarasin takes another from ABN AMRO appeared first on Asian Private Banker.

RBC Wealth Management has named its new Asia head of wealth planning, based in Hong Kong. Vivian Kiang joined the Canadian lender in October, and oversees the provision of fiduciary structuring services including trust, insurance services and bundled solutions to high and ultra high net worth clients in Asia. She reports to Stefan Mueller, head of investments and products, Asia.  […]

The post Ex-Citi banker named new RBC WM Asia wealth planning head appeared first on Asian Private Banker.

This article first appeared in Issue 93 of Asian Private Banker’s monthly print magazine, published in the first week of November 2015. Which are the largest investment banks in the world? Simple question and one that consistently begets a simple answer – there is a clear winner, one that demonstrates the largest share of revenues or deals on the league table – followed by one […]

The post The Scoop: Buy or die appeared first on Asian Private Banker.

Lombard Odier is looking to boost its onshore private bank headcount in Japan, as it seeks further growth in a market keen on asset protection. According to media reports, the Swiss pure play is ten employees short of the goal, which is expected to assist the bank’s drive to double its client base and assets in Japan over the next […]

The post Lombard Odier to boost Japan headcount to 40 appeared first on Asian Private Banker.

In a bid to bolster its Greater China coverage, RBC Wealth Management has appointed a former Coutts director to focus on the Hong Kong market. Anita Wong joins the Canadian lender as an executive director and a member of the North Asia relationship management team. She reports to Ignatius Chong, the Greater China managing director. The hire underscores RBC Wealth […]

The post RBC Wealth Management hires one from Coutts appeared first on Asian Private Banker.

Private banking is increasingly competitive on service platforms like succession plans and trust planning and digital investment, even more so than annual returns. This message however, has not reached wealth managers, says a leading survey on private wealth. “The region’s wealth managers seems to be misaligned on the variety and complexity of APAC HNWI concerns and needs”, notes the report […]

The post APAC wealth managers “misaligned” on client needs appeared first on Asian Private Banker.

Contrary to global investors, HNW clients in Asia Pacific prefer cash over equities where asset allocation is concerned, notes the latest private wealth report on the region. In particular, younger Chinese clients are showing high interest in credit services, though the nation ranks among the lowest in the world in terms of credit as a proportion of assets. In a […]

The post APAC HNW population inches past North America, now world’s largest, says report appeared first on Asian Private Banker.

More than a year after Falcon Private Bank sold its Hong Kong business to EFG, the pure play has named a new head for Asia. Effective September 1, Febby Avianto is the bank’s Singapore-based head of private banking Asia. He joins from RBC Wealth Management where he was its market head of Southeast Asia. Previously, Avianto spent 20 years in the […]

The post Falcon Private Bank appoints new Asia head appeared first on Asian Private Banker.

After leaving the post earlier this year, an industry veteran and a former Deutsche Asset & Wealth Management (AWM) head has joined Royal Bank of Canada (RBC). Ken Tam is the managing director and head of Asia for RBC Investment Management (Asia) overseeing the Asia Pacific business, excluding BlueBay Asset Management of RBC Global Asset Management (GAM). He reports to Clive […]

The post Ex-Deutsche AWM head moves to RBC appeared first on Asian Private Banker.

Standard Chartered (StanChart) Private Bank has hired a regional head for its Southeast Asian UHNW clientele, as part of its plans to beef up its global advisory body for the ultra rich. Enoch Tan joined the bank as managing director effective 1 July, based in Singapore, the bank said. He is also part of the advisory UHNW proposition unit under […]

The post StanChart Private Bank adds to UHNW proposition appeared first on Asian Private Banker.

SYZ Group has acquired the Swiss private banking arm of Royal Bank of Canada, doubling the assets under management (AUM) of its private banking arm. The deal, subject to approval from Swiss authorities  sees SYZ Group acquire assets largely concentrated in Latin America, Africa and the Middle East. Royal Bank of Canada (Suisse) SA has approximately CHF 10 billion (US$ 10.6 […]

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RBC Wealth Management loses its head of Southeast Asia, three years after she joined the Canadian lender. Grace Barki exits after first joining in 2012 from the former Bank Sarasin. When contacted, a spokesperson for the bank confirmed the move. More than one year ago, the Canadian private bank also lost Andrew Turczyniak, who was head of Asia, after joining in mid-2011 […]

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The population and wealth of Asia Pacific’s HNWIs continue to thrive, recording growth rates of 8.5% and 11.4% respectively, outstripping regional GDP growth of 5.8%, according to the Capgemini and RBC Wealth Management World Wealth Report 2015. The population of Asia Pacific’s HNWIs now stands at 4.69 million, accounting for US$ 15.82 trillion in wealth, according to the recently released […]

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Asian high net worth individuals spend over five hours a week on banking and investments, according to a survey by Scorpio Partnership and SunGard. Yet, private banks have been slow to adopt digital technologies related to mobile and tablet apps. Reasons for this lag include a dearth of relationship managers equipped with the digital skills relevant to their clients, fragmented […]

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The region’s rich are getting richer and their ranks are swelling at a significant rate, according to reports charting the rapid expansion of Asia’s big earners. As the private wealth market in Asia develops and its size expands, independent studies are mapping its progress in greater detail. Several studies have been published in recent months, ranging from the newly wealthy, […]

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Private banking clients from Standard Chartered Bank Malaysia are seeking more wealth management products and services within Malaysia. The bank intends to focus on untapped growth in Malaysia, according to newly appointed managing director and CEO for Malaysia, Mahendra Gursahani. “Malaysia and Singapore account for about half of total online sales in the Asean region,” Gursahani says. “Our network advantage […]

The post Standard Chartered eyes Malaysia’s US$420bn HNWI market appeared first on Asian Private Banker.

A report released today (24 March) has found that households earning between US$100,000 and US$2 million make up the world’s fastest growing wealth segment – a segment that will reach US$145 trillion by 2020, with China taking up US$53 trillion of this amount. The Economist Intelligence Unit (EIU) global report, called The New Wealth Builders, identified US$88 trillion in global […]

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RBC Wealth Management has hired two former United Overseas Bank (UOB) relationship managers to strengthen its North Asia coverage. Joanna Koo and Gala Shiu join the Canadian lender as Singapore-based senior relationship managers. Koo and Shiu will focus on Greater China, reporting to David Tan, RBC Wealth Management’s North Asia team head. “The expansion of this team, together with our […]

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A former managing director and market head at RBC Wealth Management in Singapore has re-emerged five months after leaving the bank to take up a similar position at LGT. A spokesperson for the Prince of Liechtenstein’s private bank has confirmed the appointment of Soh Chye Guan as a managing director. Soh left RBC Wealth Management in September 2014 after less […]

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In a bid to bolster coverage of what’s proving to be an increasingly popular trend among Asian high net worth investors, RBC Wealth Management hires a former UBS head of investment management to lead its Asian discretionary investment management desk. Juan Aronna joined the Canadian lender as head of discretionary investment management, Asia, based in Singapore. He reports directly to […]

The post RBC Wealth Management makes ex-UBS banker new Asia discretionary head appeared first on Asian Private Banker.

As more and more ultra-high net worth individuals (UHNWIs), typically with US$30 million or more in investable assets, increase their use of trust services, they continue to look for ways to structure the transition of their wealth to the next generation, and there is a growing trend to set up philanthropic trusts among those sitting in the higher wealth pool […]

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Asian Private Banker presents its AUM to relationship manager (RM) table. Releasing figures for RMs at Asian private banks over the past two years, and examining them against AUMs, the tables demonstrate the flux in the industry. As the war on talent continues, RMs migrate across the market and AUM figures change. While RM headcounts have increased across the board, AUMs […]

The post Assets under management and relationship manager tables 2012 – 2013 appeared first on Asian Private Banker.

One week after this publication reported the departure of Coutts’ former head of investment consulting in North Asia, a rival private bank has become the beneficiary of the exit. Kenny Wan is believed to have joined RBC Wealth Management in a similar capacity in the Canadian private bank’s Hong Kong office. When contacted, a spokesperson for the bank could not […]

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Two senior bankers have left Coutts, with one joining rival bank DBS. Kin Cheung, head of active advisory for North Asia has moved to DBS as confirmed on the HKMA register. He is believed to be taking up the role of team head of marketing in greater China. When contacted, a spokesman from DBS declined to comment. Cheung was previously with […]

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Asian Private Banker presents the latest figures on global revenue and assets under management (AUM) for the top private banks in the region as they begin to roll out their third quarter financial results with comments from an industry insider on their performances. Global AUM Global Revenue YOY ABN AMRO Private Banking “With the bank opting to reveal results by […]

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Since the term was coined by the Rockefeller Foundation in 2007, impact investing – the investment approach that is often touted as the future of philanthropy because of its ability to generate market returns as well as address key social and environmental challenges- has amassed attention worldwide. Indeed, the global impact investing market is touted to grow to $500 billion […]

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While impact investing has been touted as the silver bullet of structured philanthropic giving for many in the industry, UBS Wealth Management will launch its own new subset of philanthropy that focuses on attracting traditional investors seeking financial returns in Hong Kong next month. With hopes to mirror its capabilities in Switzerland, UBS Wealth Management will introduce a value-based investing (VBI) […]

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With the region’s high net worth individual (HNWI) population surging by 17% compared to 13.5% in the rest of the world, Asia Pacific is on course to overtake North America’s pole position in terms of HNWI population by the end of this year, according to RBC Wealth Management and Capgemini’s Asia Pacific Wealth Report 2014. The report also states that the […]

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Mutual funds and hedge funds Over the past 12 to 18 months, Asian clients have started shifting away from a brokerage-oriented approach and are moving towards the higher value-added services of portfolio advisory. The solutions in highest demand are collective investment vehicles such as mutual funds and hedge funds that allow clients to access best-in-class asset managers, as well as […]

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Under the bonnet of every private bank lies the engine that allows its entire system to run seamlessly; its core operating software. In Asia, private banks typically use one of two software systems – Avaloq or Temenos. With the industry facing a host of challenges – a constantly changing regulatory landscape, increasingly sophisticated clients, contracting life-expectancy for existing technology and […]

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Despite a hiring plan in Asia that many saw as aggressive, RBC wealth management has lost a senior figure in its private banking team Soh Chye Guan departs from the Canadian lender where he was a managing director and market head based in Singapore. Soh reported to Grace Barki, head of RBC Wealth Management Southeast Asia. When contacted, a spokesperson declined to […]

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As part of its continuing hiring spree, RBC Wealth Management nets three Greater China heads. Ignatius Chong joins from Coutts to take on a managing director role, Lorraine Lam joins from Credit Suisse as an executive director and Yi-An Chen joins from ANZ as an executive director. They will be based in Hong Kong, where they will capitalise on their experience serving the […]

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The “Rose Review”, nicknamed after the head of RBS’ commercial and private banking division Alison Rose, confirmed earlier this month that the British lender was in fact working on a sale of its international private banking business. RBS hopes the division, which manages an estimated US$30 billion in assets across Europe and Asia, will fetch close to a billion dollars […]

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In a bid to continue recruiting Southeast Asia bankers as part of its five-year Asian growth plan, RBC hires a banker from Swiss pure-play Julius Baer. After resigning from Julius Baer in July where he was a China-focused banker, 20-year banking veteran Joel Goh has taken on the role as managing director, co-head brokerage and futures at RBC Wealth Management. […]

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