Madrid-headquartered Allfunds believes more Asia-based wealth managers intend to increase outsourcing of investment advisory services, according to Alexis Fosler, Singapore-based general manager for Asia.
Tag: Private Banking
As PBs up threshold, do boutiques move in?
The high minimum amount to open a private bank account is creating opportunities for small boutique wealth managers, according to Simon Parfitt, director at Hong Kong-based Pyrmont Wealth Management.
Hong Kong WM assets hit $1trn
In 2017, total assets under management by the private banking and private wealth management business in Hong Kong hit $1trn (HK$7.8trn), while asset management was up 23%, according to the Securities and Futures Commission (SFC).
EY: Private banking shakeout to continue in 2018
Regulatory costs are expected to increase while clients increasingly prefer digital channels for financial advice, suggesting wealth managers rethink traditional business models, according to Elliot Shadforth, Hong Kong-based Asia-Pacific wealth and asset management leader at EY.
DBS to bolster Asia PB headcount
Singapore’s DBS Group added 20% to its headcount in 2017 and plans to add more to its private banking business to address opportunities as Asia’s private wealth increases.
HK and Switzerland ink wealth management pacts
Various industry bodies of Hong Kong and Switzerland have signed MoUs in the Swiss capital to strengthen development of the private wealth management industries in both jurisdictions.
EdR closes PB, AM units in Hong Kong
Edmond de Rothschild has officially closed both its private banking and asset management businesses in Hong Kong, according to recent records from the Securities and Futures Commission.
HK regulators warn on sale of in-house products
Conflicts of interests arising from the sale of in-house products by fund distributors are on the radar of both the Hong Kong Monetary Authority and the Securities and Futures Commission.
APAC’s private bank assets up 4.5%
UBS Wealth Management was the biggest private bank in Asia-Pacific in 2016 for the fifth year in a row, according to a survey by UK-based Private Banker International.
What next after MSCI inclusion?
Wealth and asset managers give their views on the implications of the MSCI inclusion of A-shares and where they find investment opportunities onshore.
