An increase in private wealth in Taiwan, underpinned by the booming semiconductor market, has prompted private banks to scramble to meet the growing demand for first-rate onshore wealth management, spurring many to kick-start their digitalisation efforts or fall behind their peers. The TAIEX, the main index of Taiwan’s stock exchange, is up 42% YTD, outperforming the S&P 500’s 9.2% YTD […]

The post Taiwan private banks ramp up digital push amid chip-fuelled wealth boom appeared first on Asian Private Banker.

Asian Private Banker held the inaugural Taipei Global Wealth Summit this Tuesday, drawing more than 500 delegates for a day of high-level discussions on Taiwan’s fast-evolving financial landscape. In its inaugural edition, the summit comes at a time when Taiwan’s wealth management sector is undergoing a strategic transformation, supported by a wave of government reforms. It also coincides with a […]

The post APB debuts Taipei Global Wealth Summit amid AI-driven wealth surge appeared first on Asian Private Banker.

Raffles Family Office has teamed up with software company GoUpscale and management consultancy firm Synpulse to launch an operating platform for Asian external asset managers (EAMs) and multi-family offices (MFOs).  The platform, dubbed Quantive Partners, aims to reduce fragmentation across custodians, improve risk visibility and data integrity, and aid EAMs and MFOs in the portfolio decision-making process, according to a […]

The post Raffles Family Office collaborates to launch an operating platform for EAMs appeared first on Asian Private Banker.

External asset managers (EAMs) have seen a meteoric rise in Hong Kong and Singapore, yet this growth is being undermined by back-office friction. According to industry experts, persistent data and operational challenges now threaten the scalability and service standards these firms need to stay ahead of rising competition. James Dellborg, associate partner for banking at management consulting company Synpulse, believes […]

The post Asia’s “hungry” EAMs in offensive M&A mode to leapfrog rivals appeared first on Asian Private Banker.

Kasikornbank (KBank) Private Banking in Thailand has launched a new digital front-end platform to support its relationship managers (RMs) and financial advisors, marking a major step in its digital transformation journey. Developed and based on Synpulse8’s Wealth Cockpit, the new platform was rolled out after an eight-month implementation period from April to December 2024. It integrates multiple RM tools into […]

The post Thailand’s KBank Private Banking launches new tool for RMs appeared first on Asian Private Banker.

With Indonesia’s private banking sector expanding, driven by digital transformation, aggressive client acquisition, and innovative product development, banks are making significant technology investments and offering tailored solutions to tech-savvy clients, according to management consultant and tech firm Synpulse’s head of Indonesia. “Digital platforms like DBS iWealth enable seamless client engagement, offering real-time portfolio monitoring and investment insights,” Inge Halim told […]

The post Indonesia’s HNW boom sparks race for market share appeared first on Asian Private Banker.

Singapore’s regulators have their sights set on ESG education in 2023, two regulation experts from Synpulse Management Consulting told Asian Private Banker. Associate partners at Synpulse, Gregory Achache and Anu Meha, set out the regulatory trends to watch in Singapore in 2023, including ESG education, virtual assets, AML and financial crime, and talent development. ESG education Achache explained how Singapore’s […]

The post ESG education top priority for Singapore’s regulators appeared first on Asian Private Banker.

The wealth and asset management sectors have evolved faster than the much of the financial services industry over the past few years, with the pandemic hastening the adoption of new technology and innovation. The expertise and agility that comes from FinTech companies and private banks working together can deliver compelling offerings to clients, experts say. The increase of younger, more […]

The post Private banking fintech trends to watch in 2023 appeared first on Asian Private Banker.

The evolving digital wealth management industry can fill the gap in traditional wealth management offerings, believes Kelvin Lei, the former investment banker who built the AQUMON wealth tech platform. The CEO and co-founder of AQUMON bemoaned the fact that when banks targeting HNW and affluent clients focus on “product sales”, what these banks are doing is not about portfolio management […]

The post AQUMON bets its algorithms offer the best way to optimise client portfolios appeared first on Asian Private Banker.

In this round-up: HKMA asks banks to implement vaccine passports; S’pore raises taxes for the wealthy; PBs often rely on error-prone manual fee disclosure checks; Privacy concerns hamper record-keeping HKMA asks banks to implement vaccine passports Private banks have expressed concern about a potential disruption to their business operations since the Hong Kong government on 24 February announced additional anti-COVID […]

The post February Regulatory Round-up: HKMA urges banks to implement vaccine passports appeared first on Asian Private Banker.

Private banks have been enthusiastic in persuading bankers to document all communications they have with clients through online channels, to be sure to satisfy regulatory requirements. But clients, especially in mainland China, have been reluctant to embrace digital communications that leave an audit trail. Traditionally a face-to-face business, where digital communication tools were not considered value-drivers or business-enablers, private banking […]

The post Privacy concerns drive reluctance of wealthy clients to have all communications with PBs documented appeared first on Asian Private Banker.

A key challenge for the private wealth management industry over the past few years has been to stay on top of regulatory changes. Significant resources are deployed with a view to complying with the latest regulations and optimising operational processes. After looking at regulatory trends that private banks should beware of in Hong Kong, Asian Private Banker summarised the following […]

The post Four trends to watch in Singapore private WM regulations in 2022 appeared first on Asian Private Banker.

A key challenge for the private wealth management industry over the past few years has been to stay on top of regulatory changes. Significant resources are deployed with a view to complying with the latest regulations and optimising operational processes. Asian Private Banker reached out to multiple regulatory specialists in the region, to find out what trends most deserve the […]

The post Top five trends to watch in Hong Kong private WM regulations in 2022 appeared first on Asian Private Banker.

Technology consultancy Synpulse has been advising private banks to move away from a legacy spreadsheet-based approach to managing their discretionary portfolio management (DPM) solutions. As many begin to introduce customisable DPM offerings and move into the mass affluent segment, it is imperative that they adopt a digital-first model. In the past 12 months, Mirsad Cekic, partner, Synpulse Singapore, told Asian […]

The post Tech consultancy Synpulse urges PBs to modernise DPM offering appeared first on Asian Private Banker.

The elusive synergy resulting from data analytics can be achieved only if private banks focus sufficiently on keeping client data updated and breaking down silos, according to fintech specialists. The pandemic has speeded up the digitalisation journey at many private banks. COOs recently shared with Asian Private Banker their eagerness to use data analytics to level up their service offerings. […]

The post To avoid ‘data swamps’, PBs must keep client data fresh and reduce silos appeared first on Asian Private Banker.

Private banks need to restrategise and service the whole wealth spectrum in Australia, or they risk losing out against newer digital wealth managers in the battle for capturing the large population of emerging wealthy clients in Australia. Australia has been an early adopter of virtual banking and the trend has been spreading to HNWIs, who use an average of four different […]

The post To stay competitive, PBs need to restrategise HNWI services in Australia appeared first on Asian Private Banker.

If wealth managers and banks want a slice of the wealth market in onshore China through the Greater Bay Area (GBA) Wealth Management Connect (WMC) scheme, a digital approach will be necessary, said Synpulse. The technology consultancy added that such firms will have to navigate the operational challenges arising from cross-border complications. The long-anticipated GBA Wealth Management Connect — viewed […]

The post Digital strategy is “key success factor” for WMs expanding in GBA: Synpulse appeared first on Asian Private Banker.

2021 started off with private banks anticipating the launch of the Wealth Management Connect scheme in the Greater Bay Area. Private banks are eager to expand their business operations as China opens up its financial markets. In early February, financial regulators from mainland China, Hong Kong and Macau inked a memorandum of understanding (MoU) establishing the cooperation framework and liaison […]

The post Jan/Feb Regulatory Round-up: GBA Wealth Management Connect; warning against ramp-and-dump scams; 2021 priorities appeared first on Asian Private Banker.

Synpulse Group has named two new CEOs following the announcement of Christoph Nützenadel’s retirement earlier this year. Effective 1 February 2021, Yves Roesti and Konrad Niggli have been appointed CEOs of Synpulse Group, covering Eastern and Western clients respectively. Roesti is currently responsible for Synpulse’s consulting business in Asia. He started his career at Synpulse in 2006 and since his […]

The post Synpulse Group names two new CEOs appeared first on Asian Private Banker.

Synpulse Tuesday named an IBM veteran to helm the expansion of the financial services consultancy firm in Indonesia. Inge Halim has been named as the new managing director for Indonesia, a press release by Synpulse said. She will play a key role in leading the growing Indonesian team and delivering Synpulse’s ambitious growth plans for the Asia Pacific region. Halim […]

The post Synpulse names IBM veteran to helm Indonesia  appeared first on Asian Private Banker.

“The private banking industry is quite capable of creating customised solutions, but the process remains slow and largely product-driven,” Laurent Bertrand told Asian Private Banker. The CEO and co-founder at BTO (BetterTradeOff) believes that the slow process contributes to the regulatory burden on PBs, including in KYC processes. “Over the last 12 months, we have created a concrete solution and […]

The post BTO financial planning platform speeds up PB product customisation appeared first on Asian Private Banker.

November began with the suspension of Ant Group’s dual listing in Shanghai and Hong Kong. At US$37 billion, it would have been the world’s largest IPO. A day earlier, Beijing had proposed rules that Chinese licensed microlenders operating online must front at least 30% of any loan they make along with financial institutions. Opinions have been divided about the issue. […]

The post November Regulatory Round-up: Ant IPO suspension may signal private sector retreat; SFC reassures FIs on US sanctions vs. NSL; MAS 2021 enforcement focus may shift to PB appeared first on Asian Private Banker.

Following guidance regarding pricing disclosure and senior management accountability issued this year, the Monetary Authority of Singapore (MAS) is likely to shift its enforcement focus on private banking (PB) and wealth management (WM) in 2021. The Singapore regulator published its Enforcement Report – January 2019 to June 2020 earlier this month, summarising its enforcement actions and providing an outlook on […]

The post MAS enforcement priorities likely more PB focused in 2021 appeared first on Asian Private Banker.

Hong Kong fund flow news refuted The introduction of the National Security Law (NSL) roused speculation and anxiety in Hong Kong, with the impact on the city’s economic freedoms still uncertain. Earlier in June, some media outlets reported a significant outflow of assets from Hong Kong to Singapore due to the worry of NSL restricting the freedom of investments. The […]

The post June Regulatory Round-up: MAS quashes fund flow rumours; WM Connect launches; PBs in HK ramp up bespoke deal record-keeping appeared first on Asian Private Banker.

The upcoming thematic review on spread charges and fee disclosure will accelerate private banks’ record-keeping overhaul in customised trading agreements. The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) announced the commencement of a concurrent thematic review in the second half of this year to assess how intermediaries process spread charges and their disclosure of trading […]

The post Upcoming thematic review in Hong Kong spurs overhaul of PB recording for bespoke deals appeared first on Asian Private Banker.

The second month into the COVID-19 pandemic, Asian Private Banker talked to consultants and lawyers on the importance of keeping clear paper trails in view of possible disputes with clients who suffered losses. In Singapore, MAS standards for suitability are aligning with Hong Kong while in China, PBs and WMs are expanding their footprint following the relaxation of rules governing […]

The post April Regulatory Round-up: PBs in spotlight as clients face losses; MAS aligns with Hong Kong on suitability; China loosens overseas JV ownership rules appeared first on Asian Private Banker.

As the coronavirus pandemic expanded its footprint in March, regulators from different countries were rolling out measures to ensure the orderly and fair operation of the financial markets. Private banks were grappling with the increased volume of transactions under less optimal working conditions with quarantine requirements in place while price disclosures remained under regulatory scrutiny. Regulators mitigating the impact of […]

The post March Regulatory Round-up: SFC postpones regulatory deadlines; Asian banks eager to close gap in AML compliance; <i>Force majeure</i> clause may affect PB trading contracts; Regulators scrutinise price transparency at PBs appeared first on Asian Private Banker.

Private banks’ profitability may be hurt if long accepted market practices regarding price transparency and disclosure have to be abandoned. The regulators in Hong Kong and Singapore require banks to adhere to pricing arrangements agreed with clients, to capture any bilaterally agreed pricing arrangements and to notify their clients about price differences, if any. Fundamental challenge Prasanna Venkatesan, partner at […]

The post Price transparency requirement may dent profitability of PBs: Synpulse appeared first on Asian Private Banker.

CLM solutions provider Wealth Dynamix has enlisted management consultancy Synpulse to boost sales of its flagship WDX1 product to global private banks, wealth and asset management firms. The global partnership, which was announced in London on 7 January, is intended to widen Synpulse‘s network of tech vendors while expanding the global reach of Wealth Dynamix. In a circulated statement, Synpulse […]

The post Wealth Dynamix engages Synpulse to widen reach of key CLM product appeared first on Asian Private Banker.

Leading international private banks have incorporated risk-based considerations with an incentive system for front office staff, but the impact on bonus payouts remains unclear, according to a survey conducted by Synpulse in 1H19. Following the trend from the UK and EU, multiple regulators in Asia have created schemes focused on better culture and conduct. From the Hong Kong Monetary Authority’s […]

The post Rewards for proper culture not yet reflected in PB payouts: Synpulse appeared first on Asian Private Banker.

Private banks should make clients aware of the differences between execution-only and advisory services in order to justify different pricing strategies and boost the uptake of advisory in Asia, according to a whitepaper published by management consulting firm Synpulse. In response to the ban of retrocessions and increase of regulatory burdens in carrying out execution-only transactions imposed by European regulators […]

The post PBs must “clearly differentiate” execution-only and advisory services to spur advisory uptake in Asia: Synpulse appeared first on Asian Private Banker.

Private banks should adopt a comprehensive approach to risk management rather than concentrate on one or two particular elements, Prasanna Venkatesan, partner and regulatory compliance & risk APAC competence centre lead at Synpulse Management Consulting, told Asian Private Banker. At Synpulse’s APAC Client Forum in Singapore last month, more than 70 regulatory compliance and risk management professionals met to discuss banking-related […]

The post PBs must “master all dimensions” of risk management: Synpulse appeared first on Asian Private Banker.

As concerns persist over the high cost of and compliance issues related to artificial intelligence, some private banks have looked to its “ancestor” — robotic process automation (RPA), according to consultancy Synpulse, which told Asian Private Banker that the technology is particularly well suited to mid-sized IAMs and family offices which offer a wide range of services on a limited budget. […]

The post RPA more valuable than full-fledged solutions for mid-size IAMs, FOs: Synpulse appeared first on Asian Private Banker.

Pictet Wealth Management has hired an ex-UBP COO to head operations in North Asia. Jeff See has joined the private bank as North Asia COO — effective yesterday. Based in Hong Kong, he reports to Ngoy Claude Mwehu, Asia COO. A spokesperson for the bank confirmed See’s appointment. See was most recently senior advisor at consultancy firm Synpulse. Prior to that, […]

The post Pictet WM appoints North Asia COO appeared first on Asian Private Banker.

Asia Pacific regulators are working to enforce proper banking conduct and culture, but urgency and stringency vary significantly across jurisdictions, and Mainland China, in particular, has to play catch up compared to finance hubs such as Hong Kong and Singapore, according to Synpulse. “The Hong Kong Monetary Authority (HKMA) and the China Banking and Insurance Regulatory Commission (CBIRC), among other […]

The post HK, Mainland China conduct and culture regimes “vary significantly”: Synpulse appeared first on Asian Private Banker.

As regulators continue cracking down on proper sales conduct, private banks need to prioritise and digitalise their trade surveillance processes, industry professionals told Asian Private Banker. Trade surveillance is necessary in order to detect, prevent, and correct improper banking behaviour. For example, monitoring conversations between clients and their relationship managers through sampling checks is one way of ensuring proper sales procedures […]

The post PBs must improve digital surveillance as regulators crack down appeared first on Asian Private Banker.

February saw a number of milestones in regulatory developments across Asia Pacific: the Australian Royal Commission’s investigation into banking misconduct concluded with a report of more than 1,000 pages which included 76 suggestions for regulators; China issued new AML/CTF rules as the Financial Action Task Force (FATF) evaluation came to an end; and the Philippines’ President Rodrigo Duterte signed the […]

The post February Regulatory Round-up: Australia’s Banking Royal Commission draws to a close, Deadline for SFC’s suitability rules looms, MAS launches fintech guidance appeared first on Asian Private Banker.

Banks in Hong Kong are feeling the pressure mount as the Securities and Futures Commission’s (SFC) April implementation deadline for the new suitability requirements edges closer, according to an industry professional. In a bid to strengthen investor protection, the Hong Kong watchdog revised its due diligence regulations last year. According to the new rules, suitability checks are required for every […]

The post Banks struggle to implement SFC’s new due diligence requirements appeared first on Asian Private Banker.

Private banks should not base the pricing structure of technology-enabled advisory services on efficiency gains, but rather on how clients perceive the added value, Synpulse’s head of digital banking told Asian Private Banker. According to Synpulse’s Michael Benz, private banks have started reaping the benefits of fintech given an increasingly stringent regulatory environment, stricter suitability requirements, and customer demand for more […]

The post PBs “miss the point” when pricing tech-enabled advisory services: Synpulse’s Benz appeared first on Asian Private Banker.

Merger and acquisition activity in Asia’s private banking industry has ground to a halt after a deluge of deals over the past few years shaped and reshaped the landscape. From 2012 to 2016, Asia saw no fewer than 20 transactions or market exits. The most recent major deals occurred in early 2017 when Indosuez Wealth Management swooped on CIC and […]

The post All quiet on the Eastern front as private banking consolidation slows, but for how long? appeared first on Asian Private Banker.

Private banks looking to partner with a third-party robo advisor should pay close attention to their portfolio construction and advisory service requirements and not focus solely on funding received as a fair measure of a firm’s suitability, according to management consultancy Synpulse. “On paper, many of these robo advisors look the same, but in reality, robo advisors are only as […]

The post PBs should focus on asset allocation maturity, not committed funding when choosing a robo partner appeared first on Asian Private Banker.

Greetings, Always a pleasure to touch base with Asia’s fund selector community. Our two Funds Selection Nexus events in Hong Kong and Singapore this week yielded some sage insights, and while we run these sessions on an off-record basis, I will share with you a few data points from our surveys. First things first, in terms of net asset inflows […]

The post Top Eight for Week 6 – 13 October 2017 appeared first on Asian Private Banker.

Synpulse, a private banking integration advisor, has partnered with UBS to spearhead its actively managed certificates (AMCs) platform, Asian Private Banker can reveal. The consulting firm will provide its asset management client library of model portfolios to UBS’ NEO platform, which will enable the strategies to be manufactured into AMCs for accredited investors, private banks and independent asset managers (IAMs), […]

The post UBS and Synpulse enter into structured products partnership appeared first on Asian Private Banker.

Greetings, Midway through the year, we surveyed discretionary heads on a number of matters including their thoughts on smart beta implementation into mandates. Their response was lukewarm.  53% said they had not explored smart beta implementation in DPM 47% had explored, but one third had no immediate plans for implementation and almost half remained on the fence Come August and […]

The post Top Eight for Week 1 – 8 September 2017 appeared first on Asian Private Banker.

Michael Benz, who was at one time Standard Chartered’s global head of private banking based in Hong Kong, has joined Synpulse as a senior advisor in its North Asia team, Asian Private Banker can reveal. “Michael’s appointment is timely as Synpulse reaches its critical size of 100 consultants in Hong Kong and Singapore,” said Yves Roesti, partner, APAC, at Synpulse. At Synpulse, […]

The post Ex-StanChart PB global head Michael Benz resurfaces at consulting firm appeared first on Asian Private Banker.

Yesterday, Indosuez Wealth Management confirmed that it has reached an agreement to buy Crédit Industriel et Commercial’s (CIC) private banking activities in Asia. As evidenced by recent acquisitions in the region, private banking mergers nowadays involve not only a marriage of two firms, but also a fusion of their respective technology systems. Asian Private Banker examines the intricacies of the […]

The post A tech take on Indosuez WM’s CIC PB deal appeared first on Asian Private Banker.

Consulting firm Synpulse says multinational private banks are developing their own bespoke digital fraud prevention platforms since there is a lack of ready-made solutions catering to their needs. Synpulse said in a recent report that compared with retail banks, private banks handle “infrequent, more intricate, and highly impactful” fraud cases. “A typical fraud incident may lead to financial losses ranging […]

The post Private banks opting for tailor-made fraud prevention platforms, says Synpulse appeared first on Asian Private Banker.

Seven private banks, together with their respective relationship managers and external independent asset manager (IAM) coverage heads, are collaborating with Synpulse on its new separately-managed-accounts data platform, Asian Private Banker has learnt. The consulting firm has been piloting its data platform for more than two months, says the firm’s recently-appointed senior advisor for digital distribution, Frank Troise. For its library […]

The post Synpulse pilots “iTunes of mutual funds” platform with seven private banks appeared first on Asian Private Banker.

A mechanism that only exists in Singapore’s judicial system makes the Lion City a preferred destination for private banking acquisitions, legal and industry experts tell Asian Private Banker. “In Singapore, where a number of acquisitions took place last year, there is a mechanism whereby the transfer of assets can be carried out through a court order,” says Stephanie Magnus, a […]

The post Singapore’s court order system “accelerates” private banking acquisitions appeared first on Asian Private Banker.

Private banks with US$10 billion in AUM that choose to focus on “frontline synergies” during an acquisition are able to achieve profitability in five years, says consultancy Synpulse. According to the firm, private banks of said scale and with a cost/income ratio 80% can increase its profit margin by 11 bps over a five-year period with an acquisition – so long as […]

The post PBs that acquire can be profitable in five years, says consultant appeared first on Asian Private Banker.

Can private banks in Asia with US$10 billion in AUM can grow organically? Apparently so, according to consulting firm, Synpulse, which maintains that a private bank with US$10 billion in AUM and a cost/income (CI) ratio of 80% can increase its assets by US$400 million annually, all the while slashing operating costs. Synpulse says that the key to survival for a […]

The post Outsourcing may be key to growth for smaller private banks appeared first on Asian Private Banker.

Private banking M&A activity in Asia has reached record levels in 2016, but not all acquisitions are smooth sailing. So what factors determine the outcome of a deal? A new report by consulting firm Synpulse analyses eight transactions to identify key variables that affect the asset retention rate during a private banking acquisition. The report – titled “Next Generation Private Banking, […]

The post Secrets of a smooth acquisition appeared first on Asian Private Banker.

Growth in the independent/external asset management (EAM) industry in Hong Kong and Singapore is yet to engender a material change in the way private banks service wealth management firms, says solutions integration advisor and consultant, Synpulse, in its latest report. The biggest challenge facing the industry is the amount of effort it takes to onboard EAM clients due to the complexity of […]

The post Custodian private banks not doing enough to service Asia’s EAMs: report appeared first on Asian Private Banker.

Union Bancaire Privée’s (UBP) integration with Coutts International – while smooth on the surface – has involved a “long-drawn” tech project due to differences in the two banks’ core operating systems, Asian Private Banker has learned. When UBP acquired the British bank’s international business late last year, the Swiss bank opted to stick with its incumbent core operating system in Asia, […]

The post UBP-Coutts integration in tech terms appeared first on Asian Private Banker.

The trend to tie technology overhauls to restructuring blueprints has been particularly prevalent among private banking units globally, and in Asia, over the last year. Delving in to this trend, Asian Private Banker asks industry insiders for the rationale behind the strategy and their thoughts on its overall effectiveness. “The move to use one platform helps the bank handle various offshore markets […]

The post Private banks tie restructuring to tech appeared first on Asian Private Banker.

Integration has proven a potent strategy for private banks to grow wallet share, and yet a number of crucial factors need to be considered for before making a final bid. According to one expert, the key to a smooth – and short – integration process is having in place sophisticated core banking solutions. “A well-managed integration project can take as […]

The post Sophisticated core banking solutions key to speedy private banking integrations appeared first on Asian Private Banker.

Fourteen months after signing with Avaloq Sourcing Asia Pacific, Deutsche Asset & Wealth Management (AWM) has gone live with the business process outsourcing centre in Hong Kong and Singapore. When contacted, spokespersons from Avaloq and Deutsche AWM declined to comment on the recent integration. The project, which involves Avaloq Sourcing Asia Pacific, a subsidiary of Avaloq Group, supplying back office services […]

The post Deutsche AWM is first private bank in Asia to outsource back office operations appeared first on Asian Private Banker.