Standard Chartered delivered record wealth solutions performance in 2024, driving up the bank’s income thanks to strong affluent client onboarding momentum and net new money flows, the bank’s latest earnings report shows. Underlying operating income for Wealth and Retail Banking (WRB) in 2024 was US$7.8 billion, up 11% YoY and mostly driven by a record performance in wealth solutions, which […]

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With increasing client appetite for private markets, private banks are being very selective when adding to their product shelves to ensure they are working with top managers, leading fund selectors said at Asian Private Banker’s Funds Selection Nexus 2024 Hong Kong. “We have to be very selective” As the private market space gets bigger, banks are looking closely at the […]

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While some private banks in Asia continued with a headcount freeze in April, others were actively looking externally to fill senior positions. However, the big story in April concerned HSBC Global Private Banking (HSBC GPB), whose Hong Kong market head made the shock decision to resign and take the top job at a leading international school. Fortunately, the bank may […]

The post What next for HSBC GPB after Bryce Wan goes back to school? appeared first on Asian Private Banker.

Private banks in Asia enjoyed bumper AUM growth of 16% on average in 2023, according to Asian Private Banker‘s recent Asia 2023 League Tables, adding an aggregated US$400 billion in assets. However, this does not tell the full story. While the likes of UBS Global Wealth Management, HSBC Global Private Banking and DBS swallowed up tens of billions of dollars […]

The post Analysis: Which banks struggled to gain AUM in 2023, and why? 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 […]

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“One should not invest in China.” This view, offered by Sharmin Mossavar-Rahmani, chief investment officer of Goldman Sachs Group’s wealth-management business, is exactly the sort Beijing hoped to dispel at this week’s National People’s Congress. So far, the China sceptics may be feeling more vindicated than the bulls. Granted, Mossavar-Rahmani made her comments to Bloomberg on 4 March, a day […]

The post “One should not invest in China”: But will Two Sessions convince PBs otherwise? appeared first on Asian Private Banker.

Amid soaring interest rates, Standard Chartered’s Consumer, Private and Business Banking (CPBB) unit saw 60% profit growth partly attributable to a recovery in its wealth management business and a 20% income growth in Asia. On a yearly basis In FY23, Standard Chartered’s CPBB profit before tax grew 60% to US$2,487 million, with operating income up 22% to US$7,106 million. This […]

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2023 was certainly not an easy year for private banks in Asia Pacific, with the impact of high interest rates, an underperforming Chinese equities market, and clients sticking to deposits. A few private banks also made some structural changes following the collapse of Credit Suisse, with some going through leadership transitions. Below, in no particular order, Asian Private Banker has […]

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Volatile markets, high interest rates and subdued client activity in 2023 have done little to dent the momentum of Standard Chartered Wealth Management (Standard Chartered WM), which saw double digit growth in AUM in Hong Kong. That is according to Alson Ho, who leads the wealth management business in the city. He told Asian Private Banker that the lender’s diversified […]

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Hong Kong’s stock market is facing its worst performance in decades, with the Hang Seng Index losing almost 20% YTD. But Standard Chartered Wealth Management believes it is also time to find “some diamonds in the rough”. China’s CSI 300 has dropped over 13% YTD. While the UK lender currently holds a neutral position on China, Raymond Cheng, North Asia […]

The post CIO Insight: Can Standard Chartered WM unearth China’s equity “diamonds”? appeared first on Asian Private Banker.

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

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Standard Chartered’s wealth management income saw double-digit QoQ growth this quarter, the highest since 1Q22. According to the bank’s latest earnings report, wealth management income was up 18% QoQ to US$526 million in 3Q23. This is the highest quarterly income the bank has recorded since 1Q22, when wealth management income reached US$530 million. “Wealth Management has continued its recovery with […]

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Standard Chartered Wealth Management (Standard Chartered WM) has highlighted three investment trends that it believes will serve private clients well for the rest of 2023 and beyond. The bank’s latest outlook, unveiled on Monday, comes as private banks and their clients are forced to navigate rocky terrain, with interest rates and inflation remaining stubbornly high. That is not to mention […]

The post Three investment trends for 2023 and beyond: Standard Chartered WM appeared first on Asian Private Banker.

Leading private banks and general partners in Asia had their say when it comes to alternative investing for UHNWIs, at Asian Private Banker‘s inaugural Alternatives in Focus event held at The Westin Singapore Among the topics for discussion were alternatives and asset allocation, what can be learned about semi-liquids from Blackstone’s B-REIT, as well as diversification within the alternatives asset class. […]

The post Alternatives in Focus – Blackstone’s B-REIT a lesson for private banks appeared first on Asian Private Banker.

Standard Chartered reported a 17% decrease in wealth management income for 2022 due to risk-adverse customer sentiment and the impact of COVID-19 restrictions, the Asia-focused bank announced on Thursday. For 4Q2022, wealth management income fell 19% YoY on a constant currency basis. “As we go into 2023, we are optimistic that as these factors recede, the wealth management business can […]

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When Alson Ho arrived at Standard Chartered in April, it was amid a challenging time for Hong Kong’s banking industry, as the city had just faced a severe fifth-wave of COVID-19. However, Ho also joined the bank as its wealth business was seeing a strong rebound – thanks to a comprehensive product suite and deft blend of a high-touch service […]

The post What’s the winning formula for StanChart? New HK WM head shares secrets of business rebound appeared first on Asian Private Banker.

Standard Chartered Wealth Management (WM) has hired a head of managed investment from BNP Paribas Wealth Management, Asian Private Banker can reveal. Based in Hong Kong, Connie Sin joined the British lender on 1 September 2022 as head, Managed Investments, Wealth Management. In this newly created role, Sin will oversee the Managed Investments business across Retail, Private Bank and Business […]

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US Federal Reserve chairman Jerome Powell’s hawkish speech at the Jackson Hole meeting on Friday night once again erased billions in the equity market, with the S&P 500 losing 3% after enjoying a brief market rally. Powell signalled there may be more rate hikes on the horizon. At each of its last two policy meetings, the Fed had raised interest […]

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This week: Deutsche Bank IPB still sees opportunities in Chinese ADRs; Standard Chartered WM strategies strike balance between growth and inflation worries Deutsche Bank IPB still sees opportunities in Chinese ADRs The recent sell-off in Chinese household tech names has fuelled investor concerns about Chinese tech stocks, but Deutsche Bank International Private Bank (IPB) believes the long term opportunities are […]

The post CIO Weekly – ADR delisting risk does not affect solid fundamentals: Jason Liu of Deutsche Bank IPB appeared first on Asian Private Banker.

Chandrima Das, global head of managed investments at Standard Chartered Wealth Management, is leaving the bank, Asian Private Banker can confirm. Based in Singapore, Das joined Standard Chartered in March 2021 to grow its funds and discretionary portfolio management businesses. She reports to Marc Van de Walle, global head of wealth management. Das also contributes to Standard Chartered’s affluent agenda, […]

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

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

Standard Chartered has appointed a new head of wealth management for Korea, Asian Private Banker can reveal. Subject to approval, Sachin Bhambani will take on the role, after having been instrumental in growing the bank’s Group Insurance business. Bhambani has spent almost two decades with the UK lender. His most recent role was managing director & head for Group Insurance […]

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 Eugenia Koh, head of sustainable investing at Standard Chartered Wealth Management, says the net zero capital shortfall is likely to occur in the most carbon intensive sectors in emerging markets. “There is currently a disconnect,” Koh told Asian Private Banker. “One of the things that we have to be thoughtful about is how can we look at transition meaningfully. […]

The post ESG 2.0 – Transition is not an excuse for greenwashing: Eugenia Koh of StanChart WM appeared first on Asian Private Banker.

This week: We are not entering a bear market: Audrey Goh of StanChart WM; Rotate into alternative strategies as a hedge against volatility: UBP; Expect China equities to recoup losses in Year of the Tiger: Pictet Asset Management We are not entering a bear market: Audrey Goh of StanChart WM The recent equities correction has caught many investors by surprise, […]

The post CIO Weekly – Choppy start to 2022 doesn’t mean we are entering a bear market: Audrey Goh of StanChart WM appeared first on Asian Private Banker.

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

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

This week: Indosuez WM: Stay the course in terms of Chinese assets; Pictet WM believes China rate cut unlikely in the near term; Standard Chartered WM expects extension of Indian stocks’ record rally; Bank of Singapore sees higher odds of Fed taper in November Indosuez WM: Stay the course in terms of Chinese assets Troubles at China Evergrande Group engulfed […]

The post CIO Weekly – Stay the course in terms of Chinese assets: Arjan de Boer of Indosuez WM appeared first on Asian Private Banker.

This week: HSBC PB: Regulatory ambiguity raises risk premium of China assets; J.P. Morgan: Marginal growth of Chinese economy in 3Q21; Standard Chartered WM sees short-term tactical opportunities in internet sector equities; Bank of Singapore still holds moderately risk-on stance HSBC PB: Regulatory ambiguity raises risk premium of China assets Beleaguered Chinese markets faced a fresh salvo after Yi Huiman, […]

The post CIO Weekly – Regulatory ambiguity raises risk premium of China assets: James Cheo of HSBC PB appeared first on Asian Private Banker.

This week: Deutsche Bank IPB: Asian stocks cheaper than European, American peers; UBS GWM Chief Investment Office: Delta variant could delay, not derail global recovery; Bank of Singapore: August PMIs show that major economies are more resilient than feared; Standard Chartered WM: Use a taper talk dip to add exposure to risk assets Deutsche Bank IPB: Asian stocks cheaper than […]

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China’s passage of a major law to protect its citizens’ data weighed on global markets on Friday even as the percentage of the country’s assets owned by global investors has increased in recent years, on the back of its robust economic performance and liberalisation of its markets. The passage of The Personal Information Protection Law (PIPL) (link in Chinese) seeks […]

The post Markets have fallen to a point where we are getting paid fairly for the risk: Manpreet Gill of StanChart WM appeared first on Asian Private Banker.

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

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

This week: VP Bank: Chinese bond market is too large to ignore; Standard Chartered WM: Equity markets transitioning to more sustainable pace of gains; Bank of Singapore: Pick selective opportunities in sectors that are reopening VP Bank: Chinese bond market is too large to ignore With markets viewing any interest-rate increases as a sign of an economic recovery, comments by […]

The post CIO Weekly – Compelling reasons to invest in Chinese bonds: Thomas Rupf of VP Bank appeared first on Asian Private Banker.

This week: Beware of ‘value traps’: Willem Sels of HSBC PB; Standard Chartered WM CIO: Concerns that the Fed may have jumped the gun are overdone; BlackRock Investment Institute: Breaking out Chinese assets from EM as distinct tactical allocations Beware of ‘value traps’: Willem Sels of HSBC PB Minutes of the Federal Reserve’s latest meeting that showed the central bank’s […]

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This week: RBC WM advises clients to “be patient” and let markets digest policy tightening news; BlackRock prefers inflation-linked bonds to nominal bonds as portfolio ballast; Standard Chartered Wealth Management: Raise Eurozone equities to preferred RBC WM advises clients to “be patient” and let markets digest policy tightening news: Markets in the region and elsewhere were trading in a holding […]

The post CIO Weekly – Featuring Jasmine Duan of RBC Wealth Management appeared first on Asian Private Banker.

This week: Harvest Global Investments: Global monetary, fiscal policies will be supportive of markets; PGIM: Markets will be bumpy for the next six to 12 months; Pictet Wealth Management: Market sceptical about Fed’s inflation policy; Federated Hermes: All HY markets back to pre-crisis levels; Bank of Singapore: High growth stocks typically face valuation headwinds; Standard Chartered Wealth Management: Bullish on […]

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Standard Chartered Bank Wednesday scooped a well-known technology entrepreneur and discretionary portfolio management veteran as the British bank prepares to stave off the threat to its mainstay Asian business from robo-advisors and legacy banks rolling out tech-first wealth management apps. Subject to regulatory approval, Chandrima Das will take on the role of Standard Chartered’s global head, managed investments, the bank […]

The post Standard Chartered nets wealthtech veteran in fight to manage wealth for digital natives appeared first on Asian Private Banker.