High taxes and geopolitical fears will continue to push Taiwan’s growing population of high net worth individuals to move their wealth offshore, despite recent government initiatives aimed at achieving the exact opposite, independent wealth managers told Asian Private Banker. Taiwan launched its Kaohsiung Asset Management Pilot Zone last July, with the aim of attracting global financial institutions to set up […]

The post Why Taiwan’s rich are still going offshore appeared first on Asian Private Banker.

Cathay United Bank(CUB) has made a senior appointment to strengthen its private banking team in Hong Kong, Asian Private Banker has learnt. Maggie Lau recently joined the bank’s Hong Kong Branch as head of sales for private banking. Her licence with the bank, registered on the HKMA website, took effect in late April. CUB has been contacted for comment. Lau has more […]

The post Cathay United Bank hires ex-Credit Suisse banker in Hong Kong appeared first on Asian Private Banker.

A surge in Taiwanese private wealth, driven by AI-driven equity market gains and a push to repatriate offshore wealth, is triggering a fiercely competitive talent war for rare top private banking talent. This talent crunch, coupled with the growth in onshore-booked capital, is also narrowing the gap between onshore Taiwan and traditional wealth management hubs like Hong Kong and Singapore […]

The post Private banks in Taiwan race for RM talent as onshore wealth swells appeared first on Asian Private Banker.

BNP Paribas Wealth Management (BNP Paribas WM) has hired from UBS to strengthen its advisory capabilities in Taiwan, Asian Private Banker has learnt. Based in Taipei, Hiko Lee has been appointed as head of investment counselling for Taiwan, effective 8 June 2026, according to an internal memo seen by APB. Lee will be responsible for developing and implementing the bank’s […]

The post BNP Paribas WM hires UBS talent for Taiwan push appeared first on Asian Private Banker.

In Taiwan’s burgeoning private banking scene, the most valuable currency isn’t just capital — it’s the relationship manager (RM).  As a late surge of local banks rushes to establish private banking arms, a bidding war has erupted for top-tier talent. While some competitors engage in a costly game of musical chairs, Cathay United Bank is bypassing the aggressive poaching wars. […]

The post Cathay United Bank bets on internal talent to dodge RM pay war appeared first on Asian Private Banker.

Cathay United Bank Private Banking (CUBPB) has become the first private bank in Taiwan to go live on BlackRock’s Aladdin Wealth as the wealth management industry rushes to digitise its services to keep pace with growing demand. Combined with a recently completed core system upgrade, the implementation is expected to strengthen the bank’s advisory capabilities and deliver a better client […]

The post Cathay United Bank taps BlackRock’s Aladdin Wealth in digital push appeared first on Asian Private Banker.

HSBC Private Bank has made a senior appointment to its onshore business in Taiwan as the bank looks to strengthen its Greater China franchise. Effective 1 June 2026, Edward Chiu will assume the role of onshore Taiwan market head, according to a statement on Friday. In his new role, Chiu will lead the onshore private banking business in Taiwan, working […]

The post HSBC Private Bank appoints onshore Taiwan market head appeared first on Asian Private Banker.

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.

This is a sponsored advertorial from Swiss-Asia Financial Services. As wealth structuring practices become increasingly sophisticated and international, seasoned independent asset manager Don Toh shares why external asset management (EAM) in Singapore is a prime strategy for cross-border growth. From private banking to true independence After decades within premier global private banks, including Standard Chartered Private Bank and Credit Suisse, […]

The post Pathway to independence: Why a wealth manager covering Taiwan chose external asset management 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.

Singapore-headquartered global investment firm Lighthouse Canton is eyeing Taiwan as a springboard to accelerate its wealth push into the North Asia market as part of its 2027 goal of reaching US$10 billion in assets under management. The firm has entered a strategic partnership with Taiwan’s Draco Evolution to merge AI capabilities with global asset management expertise, according to a company […]

The post Lighthouse Canton taps Taiwan fintech for North Asia wealth push  appeared first on Asian Private Banker.

This is a sponsored advertorial from Avaloq. Regulatory reforms and solid economic fundamentals are driving a quiet transformation in Taiwan’s financial sector. The island’s push for more onshore wealth services is opening the door to high-quality advisory and investment offerings for local investors. Avaloq and NEC Taiwan explore this ongoing shift and its implications for Asia’s wealth management landscape. Taiwan […]

The post The shift to onshore: How Taiwan is transforming into a hub for private wealth management appeared first on Asian Private Banker.

J.P. Morgan Asset Management (J.P. Morgan AM) is accelerating its efforts to capture growing opportunities in Taiwan’s exchange-traded fund (ETF) market, a key pillar of the local government’s ambition to position it as an Asian asset management hub. The US firm has expanded its local ETF lineup with the listing of an actively managed derivative-income ETF which invests in Taiwan […]

The post J.P. Morgan AM accelerates ETF push in Taiwan amid wealth boom appeared first on Asian Private Banker.

Singapore-based independent wealth manager WRISE has expanded its presence in Taiwan, aiming to meet the evolving needs of ultra-high-net-worth (UHNW) individuals and families. The firm recently opened a client service centre in Taipei to provide advisory and consultation services, according to a statement. The centre will also roll out family wealth–focused educational and engagement programmes, designed to foster next-generation dialogue […]

The post WRISE expands into Taiwan to serve UHNW families appeared first on Asian Private Banker.

Fidelity International (Fidelity) has received special approval from Taiwan’s Financial Supervisory Commission (FSC) to provide regional core asset management services, according to a statement on Wednesday. This comes as the firm ramps up efforts to capture opportunities in Taiwan’s booming wealth and asset management sectors amid a slew of recent regulatory support. Under FSC regulations, offshore fund institutions that establish […]

The post Fidelity International gets green light to accelerate wealth push in Taiwan appeared first on Asian Private Banker.

From record North Asia flows and the resumption of full-force hiring to digital assets and evergreen funds, Asian Private Banker looks back at the big stories that dominated headlines in 2025. 1. Hong Kong’s comeback: Record North Asia wealth flows Asia’s private banks experienced unprecedented growth in North Asia, with Hong Kong’s wealth industry bouncing back to near pre-pandemic levels, making the city […]

The post APB Wrapped: The top 10 Asia private banking trends in 2025 appeared first on Asian Private Banker.

UBS has extended its wealth technology capabilities to one of Taiwan’s leading securities firms, marking the Swiss bank’s latest move to capture rising opportunities in the market amid supportive regulatory reforms. UBS has partnered with KGI Securities to launch 凱富RichLife, a financial planning platform powered by UBS Partner, its wealth management technology, the firm said on Wednesday. 凱富RichLife enables KGI’s […]

The post UBS brings technology know-how to Taiwan with KGI tie-up appeared first on Asian Private Banker.

UBS intends to hire more talent in Taiwan, seizing upon regulatory loosening and a semiconductor-fueled tech boom, the Swiss banking giant recently told Asian Private Banker. “We are now taking advantage of all the relaxation that has happened,” Henry Su, Taiwan location head, UBS Global Wealth Management, told APB in a recent interview. Su is referring to the launch of […]

The post UBS targets headcount expansion in Taiwan as regulations ease appeared first on Asian Private Banker.

HSBC has appointed a new head of international wealth and premier banking (IWPB) Taiwan. Effective 3 November 2025, Kevin Hu will lead the bank’s IWPB business strategy and expand the bank’s footprint as an international wealth manager in Taiwan, according to a statement on Friday. Hu joins HSBC from Cathay United Bank, where he worked as a senior executive vice […]

The post HSBC hires Citi veteran to head Taiwan IWPB business appeared first on Asian Private Banker.

BNP Paribas Wealth Management (BNP Paribas WM) has hired an industry veteran for its onshore Taiwan team, following on from the recent appointment of its Taiwan wealth management head. Based in Taipei, Eric Kao has joined the French wealth manager as a team head for private banking, according to an internal memo seen by Asian Private Banker. Kao has more than […]

The post BNP Paribas WM strengthens Taiwan push with new team head appeared first on Asian Private Banker.

Taipei Fubon Bank has hired the former head of wealth management at Shanghai Pudong Development Bank (SPD Bank) to lead key business functions across sales, service, investment advisory and business management within the wealth management division. Joseph Hiu, a private banking veteran who previously served as the head of wealth management at SPD Bank in Singapore, will take up the […]

The post Ex-SPD Bank wealth head joins Taipei Fubon bank appeared first on Asian Private Banker.

In the past few years, E.SUN Bank has been on a journey. The Taiwanese lender restructured its private banking division to target Taiwanese entrepreneurs, doubled down on cross-border collaborations, and began leveraging policy directives to enhance its private banking offerings. With the next decade looking bright for the region’s wealth management space, E.SUN Bank believes it is well-positioned for growth. […]

The post Can E.SUN capture Taiwan’s wealth boom? Inside their game plan appeared first on Asian Private Banker.

BNP Paribas Wealth Management (BNP Paribas WM) has hired from UBS to lead its Taiwan business, a move that comes at a time when the Asian market is experiencing rising demand for sophisticated wealth services. Che-Kun Hsu has been appointed head of wealth management for Taiwan, effective immediately, the French lender said in a statement on Tuesday. Hsu will drive […]

The post BNP Paribas WM hires from UBS to lead Taiwan wealth business appeared first on Asian Private Banker.

Having established a presence in Taiwan with its traditional fixed income offerings, Barings is now keen to push its private markets capabilities in Taiwan’s growing high net worth (HNW) market, propelled along by a series of regulatory advancements. Taiwan’s Kaohsiung Asset Management Hub, which was officially launched in July this year, is an enhancement and upgrade to Taiwan’s Wealth Management […]

The post Can this US$456bn fund manager crack Taiwan’s HNW market? appeared first on Asian Private Banker.

Taiwan’s wealth management sector is gaining momentum as global banks and asset managers target high-net-worth (HNW) clients, offering bespoke investment products, ESG-focused strategies, and exploring collaborations to capture the next wave of sophisticated investors. Banks including HSBC, Standard Chartered, DBS and UBS have received the regulatory green light to conduct high net worth business in the new Kaohsiung Asset Management […]

The post From bespoke products to ESG, how foreign firms are wooing Taiwan’s elite appeared first on Asian Private Banker.

BlackRock will establish a local iShares platform in Taiwan to expand access and choice for investors amid a boom of exchange-traded funds (ETFs) in the region. The US asset management giant’s first Taiwan-listed ETF will be open for subscription from 30 September 2025 to 3 October 2025, according to a statement on Monday. “Bringing our global capabilities and local insights […]

The post BlackRock to launch iShares in Taiwan amid ETF boom appeared first on Asian Private Banker.

In 2024, Asia markets, including Thailand, Taiwan, the Philippines, Malaysia, and Indonesia, saw their private banking and wealth management industry assets under management (AUM) reach US$505 billion, up 12% from 2023’s US$450 billion, according to APB’s Asia Markets 2024 AUM League Tables. As in 2023, the Philippines once again led the growth in these five domestic markets in 2024 with […]

The post Asia Markets 2024 AUM: Assets up 12%, Philippines steals the spotlight again appeared first on Asian Private Banker.

In July, Taiwan officially launched the Kaohsiung Asset Management Pilot Zone, signalling its aim to transform the southern port city into a regional asset management centre. Unlike traditional financial hubs driven by trade, colonial history, or banking dominance, Kaohsiung might be the first to develop from a tech-industrial base. The case for Kaohsiung is in Taiwan’s growing strength in AI […]

The post Bottom Line: Move over wealth hubs, Taiwan’s got chips appeared first on Asian Private Banker.

What are the first names that come to mind when considering financial hubs in Asia Pacific? Hong Kong, Singapore, Shanghai, Sydney, Tokyo? But could we be about to add… Kaohsiung to that list? If the Taiwanese government has anything to do with it, we might be. Emboldened by an artificial intelligence (AI) and semiconductor boom, and promising a series of […]

The post Deep Dive: Why cultural Kaohsiung could be the next frontier for wealth management appeared first on Asian Private Banker.

A former J.P. Morgan Taiwan market banker is set to join UBS Global Wealth Management (UBS GWM), Asian Private Banker understands. Simon Chang is set to re-join the Swiss giant as market team head for Taiwan International, according to people familiar with the matter. UBS confirmed Chang will join the bank at the start of August, but did not share […]

The post Another J.P. Morgan PB banker to join UBS GWM appeared first on Asian Private Banker.

KGI Bank, a subsidiary of KGI Financial, officially opened its first overseas branch on Monday, marking the bank’s first overseas presence. The new office is based in Three Pacific Place, Admiralty, a key central business hub in Hong Kong. The strategic expansion will broaden the bank’s operational scale and enhance its business capabilities, aligning with its international growth strategy, KGI […]

The post KGI Bank selects Hong Kong for first overseas branch appeared first on Asian Private Banker.

Taiwan’s Cathay United Bank (CUB) is leveraging the technology expertise of Avaloq to enhance operational efficiency and deliver tailored solutions to high-net-worth clients in its latest wealth push at the new asset management hub in Kaohsiung City. CUB is working closely with Avaloq to establish a new booking centre and operational base in Kaohsiung, aiming to deliver tailored private banking […]

The post Cathay United Bank taps Avaloq for Kaohsiung wealth push appeared first on Asian Private Banker.

Cathay United Bank Private Bank (CUB PB) is set to capitalise on the new asset management pilot zone in Kaohsiung to sustain its strong growth momentum this year, while also benefiting from expansion in its offshore businesses. “The whole team grew very strongly in 2024, and we still forecast maintaining double-digit growth in 2025,” Robert Fuh, CUB PB’s chief executive […]

The post Kaohsiung and offshore? Taiwan private bank eyes double-digit growth appeared first on Asian Private Banker.

BNP Paribas Wealth Management’s (BNP Paribas WM) onshore Taiwan CEO is leaving to join a local player. Kate Lin announced her appointment as president of KGI Bank on her personal LinkedIn page. KGI confirmed the appointment. Lin had been in her role at BNP Paribas WM in Taiwan since October 2023. Previously, she spent over two decades at Standard Chartered […]

The post BNP Paribas Taiwan WM CEO leaves to join local firm appeared first on Asian Private Banker.

DBS Private Bank (DBS PB) is betting on India and Taiwan as the new frontiers for family office growth. “We are lucky, because we rode the wave of the Covid pandemic that was a big hit for most other private banks, but not for DBS. That pandemic really exemplified how successful Singapore is in providing a very resilient and stable […]

The post DBS Private Bank targets India and Taiwan for family office growth appeared first on Asian Private Banker.

The rising wealth management landscape in onshore Taiwan, fueled by a booming AI market and semiconductor giants, has made the region an integral component of BNP Paribas Wealth Management’s (BNP Paribas WM) Asia strategy. The French lender is looking to grow its onshore Taiwan headcount over the next two years by hiring high-quality RMs, Kate Lin, the bank’s head of […]

The post BNP Paribas WM eyes high-quality RMs for onshore Taiwan appeared first on Asian Private Banker.

BNP Paribas has named a new chief executive officer for its Taiwan business, the French lender announced on Monday. Bruno Boussard will oversee BNP Paribas’ operations in Taiwan, including corporate and institutional banking (CIB), wealth management, asset management, securities and insurance businesses. He will be based in Taiwan and report to Paul Yang, CEO Asia Pacific, the bank said in […]

The post BNP Paribas appoints CEO for Taiwan appeared first on Asian Private Banker.

Asian Private Banker is proud to present the launch of its Asia Markets 2023 AUM League Tables which track the growth story of private wealth management in Taiwan, Indonesia, the Philippines, Malaysia, and Thailand. Wednesday marks the launch of our Taiwan, Malaysia and the Philippines data, following the release of our Thailand and Indonesia data on Tuesday. According to our […]

The post APB Insights: Chip boom fuels Taiwan AUM growth despite looming geopolitics appeared first on Asian Private Banker.

Taiwan is set to become the world’s hot spot for new millionaires, according to a new report from UBS, fuelled by a boom in artificial intelligence and semiconductors. “While we expect organic growth in wealth to account for some of this stark increase in USD millionaires, mainly thanks to Taiwan’s microchip industry that is set to reap the rewards of […]

The post Taiwan to be world hot spot for new millionaires – UBS report appeared first on Asian Private Banker.

Significant ETF inflows and the rapid development of the semiconductor industry are fuelling positive sentiment for Taiwan’s wealth market, industry experts told Asian Private Banker. A surge in demand for chips needed to fuel the global artificial intelligence boom has powered the island’s TAIEX index, one of the world’s best-performing stock markets in 2024, filling the coffers of Taiwan’s UHNW […]

The post Taiwan wealth market “impossible not to talk about” as AI boom fuels inflows appeared first on Asian Private Banker.

Cathay United Bank Private Bank (Cathay United Bank PB) is aiming to more than double its relationship management team to 100 by 2028, as it seeks to capitalise on a significant jump in AUM. “We currently have a total of 40 RMs across Taiwan, Singapore and Hong Kong. As we are having another record year in AUM growth, we will […]

The post Cathay United Bank PB to double RMs as AUM surges: CEO Robert Fuh appeared first on Asian Private Banker.

M&G Investments has opened an office in Taiwan and made two senior appointments after securing a licence that will allow it to provide investment consulting services. The UK asset manager, which had £344 billion (US$450 billion) in AUM as of 31 March 2023, said on Tuesday that it had received a Securities Investment Consulting Enterprise (SICE) business licence, which allows […]

The post US$450bn asset manager opens Taiwan office after securing licence appeared first on Asian Private Banker.

A senior executive at the Hong Kong government entity charged with luring family offices to the city has left to set up a family office of his own. Jacky Leung, ex-senior vice president of Invest Hong Kong’s (InvestHK) family office unit, is now chairman and founder of recently-established Royal Family Office (王道家族辦公室), according to a LinkedIn post. According to corporate registration information, […]

The post Exec leaves InvestHK FO unit to set up family office of his own appeared first on Asian Private Banker.

APB Insights debut Asia Markets AUM research shone a spotlight on the development of the private wealth industry in Taiwan, Thailand, Philippines, Indonesia and Malaysia in 2021. For those who missed the reports when they were published last week, you can read them via the links below. Taiwan 2021 Private Banking AUM Thailand 2021 Private Banking AUM Philippines 2021 Private […]

The post Five key takeaways from APB Insights’ debut Asia Markets AUM appeared first on Asian Private Banker.

Taiwan’s funds industry managed a 10% QoQ increase in assets for 2Q22, supported by strong inflows from equity, US corporate bonds and sustainability funds. Despite global market turmoil, long-term mutual funds and ETFs domiciled in Taiwan wrapped up their sixth-straight quarter of inflows in 2Q22, securing TWD 134.8 billion (US$4.5 billion), according to Morningstar Direct data this week. As of […]

The post Taiwan investors pour into global funds in 2Q22 appeared first on Asian Private Banker.

Chris Cottorone believes that Taiwan will be able to attract more family offices and foreign capital if the regulator removes certain investment restrictions. “The investment cap set up by the Taiwan government on certain asset classes such as convertible bonds has been limiting the willingness by certain foreign institutional investors to invest,” he told Asian Private Banker. The head of […]

The post This is how Taiwan can rake in more foreign capital: TriOrient Investments appeared first on Asian Private Banker.

As a growing number of private banks up their bets on Taiwan, some local wealth management giants are going the other way: raising their regional ambitions. Cathay United Bank is exhibit A. The lender, a wholly-owned subsidiary of Cathay Financial Holdings, is a leading Taiwanese conglomerate with three growth engines: banking, insurance and asset management. In 2013, Cathay United Bank […]

The post Why Taiwan is a haven for private banks amid supply chain chaos appeared first on Asian Private Banker.

As market volatility prompts a higher demand for portfolio diversification, Cathay United Bank Private Banking (Cathay United PB) is offering its traditionally conservative clientele of Taiwanese U/HNWIs more customised solutions, focused on alternative assets and anti-inflation strategies. The private bank integrates the resources and expertise of its parent Cathay Financial Holdings, which is Taiwan’s largest financial holding company with a […]

The post Beyond selling products: CEO Robert Fuh on the evolution of Cathay United Bank PB appeared first on Asian Private Banker.

PGIM Investments has hired a vice-chairman for Asia to lead its asset management businesses and joint venture in the region. Based in Hong Kong and effective 7 April, David Chang will oversee PGIM’s asset management businesses in India, Taiwan and PGIM’s joint venture in mainland China, in addition to supporting the growth of the global intermediary business in Greater China, […]

The post PGIM Investments hires Asia vice-chair to drive retail markets in India and Greater China appeared first on Asian Private Banker.

Avaloq’s acquisition by NEC in late 2020 has not changed its business strategy of “following clients onshore” in Asia, said Pascal Wengi, managing director, North Asia for Avaloq. In the first year after the Swiss fintech was bought by the Japanese tech corporation, Avaloq made progress in expanding its client network in the region: Haitong International adopted Avaloq Wealth’s specialised […]

The post Avaloq still “follows clients onshore” in Asia after sale to NEC appeared first on Asian Private Banker.

While a number of onshore Taiwanese banks have warmly welcomed the island’s “Wealth Management 2.0” initiative, family offices in the territory — potential clients for these banks to woo — appeared more reserved. They believed the opening-up will have a limited impact on what Taiwan’s wealth management (WM) industry can offer, at least at the present stage. The WM push […]

The post Taiwan FOs still waiting to see if “WM 2.0” will make a real difference appeared first on Asian Private Banker.

As Taiwan is pushing the growth of its wealth management with the relaxation of rules, Cathay United Bank is planning to create more synergies within its various business segments, in a bid to bring its offering on par with some of its foreign competitors. This May, the bank was among the second batch of domestic banks in Taiwan to receive […]

The post Bridging gap with offshore rivals through greater synergies of group resources: Cathay United Bank of Taiwan appeared first on Asian Private Banker.

Taiwan’s CTBC Bank has struck a deal with Avaloq to adopt its core banking solution, starting with an implementation at its offices in Hong Kong and Singapore. According to a press release by Avaloq, CTBC will implement Avaloq’s core banking suite internationally, in a bid to upgrade the bank’s private banking platform. The decision to choose the Swiss fintech firm […]

The post CTBC Bank picks Avaloq Core with initial implementation in Hong Kong and Singapore appeared first on Asian Private Banker.

UBS remains bullish on Asian high-yield debt despite mounting troubles at China Evergrande, the country’s second largest property developer by sales. In its 4Q21 outlook, the UBS Global Wealth Management Chief Investment Office said the spread in the segment has widened over the benchmark even as Evergrande’s dollar bonds trade at around 20 cents on the dollar. The spread between […]

The post Don’t let Evergrande worries wean you off Asian high-yield: UBS GWM CIO appeared first on Asian Private Banker.

Northern Trust has named a new head of Hong Kong, Macau and Taiwan, and a head of global funds services in Asia, shortly after the announcement of its new head of Asia-Pacific. Caroline Higgins has been appointed as the head of Hong Kong, Macau and Taiwan. Based in Hong Kong, she will report to Angelo Calvitto, the new head of […]

The post Northern Trust appoints two leaders in APAC appeared first on Asian Private Banker.

State Street Corporation on Tuesday announced the appointment of new leadership to oversee its Hong Kong and Taiwan business. Effective immediately, Pauline Wong has been named head of Hong Kong and Ilona Chen head of Taiwan. Based in Hong Kong and Taipei respectively, both Wong and Chen will report to Mostapha Tahiri, APAC CEO. In their new roles, they will […]

The post State Street names new North Asia heads appeared first on Asian Private Banker.

Four more banks in Taiwan have been granted wealth management licences by the island’s Financial Supervisory Commission (FSC) to serve HNW clients with NT$100 million assets or above, the regulator announced on Tuesday. Cathay United Bank, UBS AG’s Taipei branch, First Bank Taiwan, Taiwan Cooperative Bank have joined the three others — CTBC Bank, Megabank, and Shanghai Commercial & Savings […]

The post Taiwan regulator grants second batch of WM licences to four banks appeared first on Asian Private Banker.

Taiwanese banks are warming to a loosening of wealth management regulations, which they believe will eventually put domestic private banks on par with international rivals. Last August, Taiwan’s Financial Supervisory Commission (FSC) detailed its latest effort to level up the international competitiveness of the country’s wealth management industry. More relaxed rules were introduced on the range of financial products available […]

The post Taiwan’s new WM rules will spawn more differentiated PB offerings: local banks appeared first on Asian Private Banker.

BNY Mellon Investment Management has announced two key appointments in North Asia effective earlier this month.  Dominic Wong has been appointed as head of intermediary, Greater China, a newly created role where he will oversee the intermediary strategy in Greater China and lead the distribution business among private banks and global financial institutions in Asia.  In his new role, Wong […]

The post BNY Mellon IM adds two in Asia appeared first on Asian Private Banker.

Tax incentives for repatriated funds, the COVID-19 pandemic, and a complicating geopolitical landscape have provided Taiwan’s onshore wealth management scene with some momentum but, truth be told, only a small portion of offshore assets have returned to Taiwan. Most have remained in offshore banking units (OBUs), Singapore, and Hong Kong. “Around 60% of the repatriated funds come from businesses, and […]

The post Tax amnesty alone may be “insufficient” to lure Taiwan HNWIs’ assets onshore appeared first on Asian Private Banker.

Mainland China has made it easier for foreign institutions to invest in the domestic bond market and has reached an agreement with Hong Kong for the cross-listing of ETFs. Hong Kong has finally enacted its Limited Partnership Fund regime. China eases access by foreign investors to bond markets The National Interbank Funding Center (NIFC), a sub-institution affiliated to the People’s Bank of […]

The post August Regulatory Round-up: China opens bond market to foreigners; HK launches Limited Partnership Fund regime; HK security law may clash with US sanctions appeared first on Asian Private Banker.

Thornburg investment manager has appointed Concord Capital Management Corporation as its private placement agent in Taiwan to market its solutions to the island’s HNW and institutional investors, the firm announced today. With the appointment, Concord will market Thornburg’s global equities and fixed income UCITS and separately managed account solutions to institutions and HNWIs in Taiwan, according to a press release. Jason […]

The post Boutique investment manager taps into Taiwan market through private placement agent appeared first on Asian Private Banker.

It looks as though the stars are aligning for Taiwan’s onshore wealth management market. A number of unrelated events are prompting Taiwanese HNWIs to reconsider whether it makes sense to keep their wealth offshore or whether an onshore structure is more beneficial. Since the start of the COVID-19 pandemic, Taiwan’s success in containing its spread has prompted wealthy offshore Taiwanese […]

The post Taiwan lures offshore assets, pushes onshore wealth management appeared first on Asian Private Banker.

UBS Global Wealth Management has nabbed UHNW market head from a Taiwanese domestic bank. David Lo has been hired as market head, UNHW for UBS GWM Taiwan. According to the bank’s announcement, Lo has also been appointed as a member of the UBS Taiwan country management team and UBS Taiwan GWM management committee. He will report to Dennis Chen, group managing […]

The post UBS GWM hires UHNW market head in Taiwan appeared first on Asian Private Banker.

J.P. Morgan Private Bank has promoted its head of Taiwan to lead its Southeast Asia team. He will be succeeded the former head of lending solutions for Asia. James Wey has become J.P. Morgan PB’s new head of Southeast Asia, replacing Rahul Malhotra, who has taken on a new role focusing on special projects and multi-family office opportunities. Wey is currently based […]

The post J.P. Morgan PB appoints new head of Southeast Asia appeared first on Asian Private Banker.

Aegis Custody announced today that it is partnering with Taiwanese lender CTBC bank to expand the latter’s digital financial asset business. The partnership will see the San Francisco-based blockchain company’s digitalisation platform launch bundle factoring, REITs and equity investment in special asset digitalisation, so as to tap into channels for cash flow, and support diversification in the banking sector. The […]

The post Aegis partners with CTBC bank in asset digitalisation drive appeared first on Asian Private Banker.

Robert Fuh, CEO of Private Banking at Cathay United Bank, told Asian Private Banker that the bank is positive about sustained growth in its client base because of the immense “demand momentum for onshore private banking services”. The increased demand follows the enacting in August 2019 of favourable regulations aimed at luring offshore cash home. (Asian Private Banker estimates that […]

The post Cathay United Bank upbeat about private banking in Taiwan appeared first on Asian Private Banker.

BNP Paribas Wealth Management’s head of Taiwan market is parting ways with the bank, Asian Private Banker has learnt. Henry Pang has resigned from his position as managing director, head of Taiwan market, where BNP Paribas WM has had onshore operations since 2005. Pang was appointed head of wealth management, Taiwan in January 2011 as part of a round of organisational restructuring for […]

The post Taiwan head exits BNP Paribas WM appeared first on Asian Private Banker.

Citi Private Bank has filled the last of its four global market manager positions, with a veteran private banker joining as its new Taiwan market head. Sally Yeh has been appointed global market manager (GMM) for Taiwan at Citi PB with immediate effect. Based in Hong Kong, Yeh is responsible for growing the bank’s Taiwan UHNW business and reports to Rudolf Hitsch, Citi […]

The post Industry veteran joins Citi PB as Taiwan market head appeared first on Asian Private Banker.

For offshore private banks, the OECD-developed Common Reporting Standard (CRS) regime suggests an opportunity for lower-cost tax reporting and standardised account opening. However, domestic banks in Taiwan are more pessimistic about the impact of the regime, which in practice, should come into effect in the jurisdiction on 1 January 2019. Although Taiwan cannot officially join the CRS regime as an […]

The post Taiwan’s local private banks worried about incoming CRS framework appeared first on Asian Private Banker.

An increase in life expectancy in Hong Kong is prompting high net worth individuals (HNWIs) to gravitate towards longer-term investments, a UBS Wealth Management report has found. Released yesterday, the study, conducted by the bank, has found that 59% of Hong Kong’s wealthy believe they will reach 100 years. By comparison, 46% of respondents in Singapore and 47% in Taiwan expect to […]

The post UBS WM finds correlation between life-expectancy and investment horizons appeared first on Asian Private Banker.

The adoption of portfolio management best practices may be on the increase in select Greater China markets – discretionary portfolio management (DPM) penetration rates continue to increase in Hong Kong, and China is witnessing the emergence of an asset management industry – self-directed trading continues to dominate in Taiwan. Taiwan market clients are not yet ready to delegate and product access is […]

The post Taiwan’s mandate business still has a way to go appeared first on Asian Private Banker.

UBS Taiwan Wealth Management has attracted more than 1,000 new clients in less than two years, pointing to Asian investors’ willingness to pay for advice and interface with banks online. The bank’s Taiwan-based digital active advisory offering, Hui Fu, which translates as ‘smart wealth’, is similar to its UBS Advice offering in Hong Kong and Singapore. However, Hui Fu communicates the […]

The post With over 1,000 new clients, UBS Taiwan WM’s ‘smart wealth’ solution suggests clients are more willing to pay for advice appeared first on Asian Private Banker.

The technology sector, one of the largest thematic investment plays today, is likely to see fewer winners going forward as the industry further consolidates and demand momentum weakens, Pictet Wealth Management has told APB Mandate. A noticeable number of private banks remain overweight the sector, largely on account of a favourable earnings growth outlook, and despite valuation concerns. Tech-focused growth and […]

The post Pictet WM’s Asia CIO cautions over slowing tech sector momentum appeared first on Asian Private Banker.

EFG Bank said today that it “fundamentally disagrees” with a ruling by a Taiwan arbitration tribunal, which has ordered the bank to return US$193.8 million in assets used as collateral for a loan to the Singapore-domiciled affiliate of a Taiwanese insurance company, Singfor Life The tribunal maintains that the transaction from EFG to the affiliate of the insurance company was […]

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Julius Baer has named a former UBS private banker as its new market head for Taiwan. Chew Mun-Yew has joined the pure play as market head Taiwan as well as a group head Greater China, based in Singapore. A 20-year financial services veteran, Chew was previously with UBS Wealth Management where he was Taiwan country head. He has also served […]

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The FinTech Association of Hong Kong (FTAHK) has signed three memoranda of understanding in order to promote “the global fintech industry”, the firm said in a statement today. The FTAHK inked agreements with the Singapore FinTech Association, the Swiss Finance + Technology Association and the Taiwan FinTech Industry Development Association during the Hong Kong Fintech Week. The FTAHK will work […]

The post HK’s fintech association inks agreements with Singapore, Switzerland and Taiwan appeared first on Asian Private Banker.

EFG has hired a former Standard Chartered private banker to spearhead its coverage of the Greater China market and oversee the bank’s business, Asian Private Banker can reveal. Vicky Lin has been appointed co-head of the Swiss private bank, based in Hong Kong. Lin, who was previously Standard Chartered Private Bank’s head of the Taiwan market, reports to Kees Stoute, chief […]

The post EFG adds co-head of private bank [updated] appeared first on Asian Private Banker.

In the wake of news that three top executives are leaving the bank’s operations in the country, ANZ has quashed rumours that it will pull out of Taiwan, saying that the board changes will have “no impact” on its Taiwanese institutional arm. Speculation about a potential exit from the market emerged after the bank announced that Alistair Bulloch had resigned as ANZ’s chairman in […]

The post Exec exits, DBS deal to have “no impact” on ANZ’s institutional business in Taiwan appeared first on Asian Private Banker.

While US stocks have rebounded after last Wednesday’s selloff, the market “remains in a kind of ‘No Man’s Land’”, says Julius Baer, which adds that other equity markets – especially in Asia – look relatively more attractive. “Investors are now no longer feeling that they must buy the US market, and are increasingly comfortable looking at equities elsewhere,” the banks […]

The post Julius Baer: “The water is warm” for Asian markets appeared first on Asian Private Banker.

UBS Wealth Management’s Asia Pacific head, Edmund Koh, said today that the private bank will sharpen its focus on the key markets of China, Japan and Taiwan, as well as regional hubs, Hong Kong and Singapore. In a media release, Koh pointed out that the private bank, which has exceeded CHF 300 billion in invested assets in APAC for the […]

The post Ed Koh: UBS WM to “consolidate growth” in APAC by focusing on 5 key markets appeared first on Asian Private Banker.

Though the US equity market has regained its footing, with the S&P 500 index rising 0.85% over the past week, the market is highly dependent on President Donald Trump’s promised tax reforms, according to DBS. “President Trump needs to restore market confidence in his ability to deliver on his promises,” DBS says in its latest investment note. “Disappointment on the […]

The post DBS: US equity market outlook dependent on Trump’s tax cut promises appeared first on Asian Private Banker.

Although investors are cautious about the risk of a US oil supply surge – together with less optimism for an OPEC deal – UBP believes that investors should remain confident about an oil market rebalance in 2H17, given its expectations that global demand and supply will hold steady. “The oil market is driven by concerns surrounding a strong build-up of […]

The post UBP: Expect an oil market rebalance in 2H17 appeared first on Asian Private Banker.

Taiwan has opened an anti-money laundering (AML) office in a move that the government hopes will remove from the jurisdiction from regional AML task force’s “follow up” watch list. The Asia / Pacific Group on Money Laundering (APG) is set to carry out a third round of evaluations this year to determine AML compliance standards among member jurisdictions – including Chinese […]

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UBS and the National University of Taiwan have agreed to launch a programme that aims to train 100 economics students in second and third years of study. The five-month NTU-UBS Youth Talent Program will be supported by members of UBS’ senior management, according to a statement from the bank. It will span five months and cover asset management, international economics, […]

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Standard Chartered Private Bank’s market head of Taiwan is poised to leave the bank and the current head of Philippines will switch to a cluster head role, Asian Private Banker can confirm. Vicky Lin, the British lender’s managing director, head of Taiwan, private banking will leave the bank after just over a year in the position. Lin will be replaced by the recently-hired Alex […]

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DBS officials say the integration of ANZ’s retail and wealth management business in Taiwan will take place in the second half of next year after the Singaporean lender receives a regulatory go-ahead. DBS is planning to file applications with Taiwan’s regulator, the Financial Supervisory Commission (FSC), next month, according to media reports out of Taiwan. The integration is expected to boost the bank’s digital […]

The post DBS aims to integrate ANZ Taiwan by 2017-end appeared first on Asian Private Banker.

Following months of speculation, ANZ today confirmed that it will sell its retail and wealth business in Singapore, Hong Kong, China, Taiwan and Indonesia to DBS. The Singaporean major will pay approximately S$110 million above book value, while ANZ faces a net loss of around S$265 million. The business to be sold accounted for approximately S$825 million in revenue and net profit of […]

The post DBS snaps up ANZ’s Asia wealth and retail businesses appeared first on Asian Private Banker.

BNP Paribas Wealth Management has implemented ERI’s OLYMPIC Banking System in Taiwan, joining the French lender’s Singapore and Hong Kong operations that are already using the solution. The browser-based core operating system is a fully integrated, front-to-end wealth management solution. It is particularly useful for private banks with deep product shelves as it claims to cover “multi-currency, multi-country, multi-entity/branch and […]

The post BNP Paribas WM goes live with tech solution in Taiwan appeared first on Asian Private Banker.

Although Taiwan has tightened rules for offshore funds in a bid to expand the domestic asset management industry, foreign fund houses are still making inroads, according to report by research firm Cerulli Associates. Domestic fund managers may dominate the list of leading players, with just two foreign managers – J.P. Morgan Asset Manager and Franklin Templeton SinoAM Securities Investment Management – […]

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A major industry figure who most recently served as J.P Morgan’s Private Bank’s market manager for North Asia, will soon resurface at a Swiss major, Asian Private Banker can reveal. Edwin Lim is pegged to join Credit Suisse as a market group head for Taiwan, and will report directly to Francois Monnet, head of Greater China private banking Asia Pacific. Previously, Lim […]

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BNP Paribas’ onshore Taiwan wealth business will accelerate its expansion, with an immediate goal of hiring at least 20 private bankers, amidst a liberalising regulatory landscape. Over the long term, the onshore wealth arm is expected to triple the size of its business across headline parameters, including revenue and headcount. Among the first moves the French lender made was to […]

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Julius Baer’s chief executive North Asia and deputy head Asia Pacific has retired with immediate effect, with the Swiss bank wasting no time in naming his successor. Kaven Leung, who first joined Julius Baer in 2012 and played an integral part in the integration of the Merrill Lynch International Wealth Management business in Hong Kong, has stepped down. His replacement is David Shick, a […]

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A year since its launch in Singapore, Credit Suisse Private Banking’s digital private banking mobile and tablet app has seen an increase in traffic, with the number of users doubling in the last three months since access was extended to the iPhone. In addition, the app has seen strong trading activity in the US market as more clients adopt it, the […]

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The Swiss lender has hired an ex-CTBC Bank high net worth (HNW) banker in Hong Kong. Christine Chen joined Vontobel Wealth Management Asia Pacific with effect from yesterday 14 March and reports to Alex Fung, Vontobel’s APAC chief executive. Previously, she was an associate director with CTBC responsible for HNW clients in China and Taiwan, and has also worked at […]

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The Singapore lender has named its new head of consumer banking and wealth management for its Hong Kong branch, after promoting the previous one to a Singapore-based role. Royce Teo has taken on the role in Hong Kong, replacing Pearlyn Phau who is now deputy group head of the whole consumer banking and wealth management division. Teo will report to […]

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Welcome to Asian Private Banker’s latest monthly feature, a segmental analysis of a particular private banking jurisdiction or theme. We kicked it off last month with a look at what some of the region’s biggest private banks are doing in first-tier Chinese cities. (This article first appeared in Issue 96 of Asian Private Banker’s monthly print magazine, published in the first […]

The post Eye on: China 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 […]

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Overseas Chinese Banking Corp (OCBC) joins a growing league of banks to be bidding for the rumoured sale of Barclays private banking arm in Asia, according to sources. OCBC, along with Swiss private bank Julius Baer and Singaporean lender DBS, has reportedly submitted non-binding bids for Barclays’ Asian private wealth business. When contacted, spokespeople from Barclays and OCBC declined to […]

The post OCBC joins race for Barclays Asia wealth arm bid appeared first on Asian Private Banker.

Despite Tsai Ing-wen’s landslide win in the recent election and her bid to ensure that Taiwan’s “democratic system, national identity and international space must be respected” – which clashes against China’s views – a resounding 64% of polled industry respondents believe the status quo of wealth flows in Asia’s main offshore booking centres will remain unchanged. This is based on Asian […]

The post Impact of Tsai’s election win on offshore Taiwanese wealth flows minimal appeared first on Asian Private Banker.