China Merchants Bank, ICBC and Bank of China are among the top 20 largest private banks globally, according to a report from Globaldata and Private Banker International.
Tag: Private Banking
Private banks shrug off fintech disruption
Vontobel Wealth Management COO Michael Haupt believes fintech is over-hyped and is unlikely to have a massive impact on wealth management in the short term.
Industrial Securities moves into private banking
Fujian-based Industrial Securities has set up a private banking arm serving China’s high net worth individuals with RMB 6m ($873,000) or more of investable assets.
NAB exit continues Asia’s PB consolidation
The National Australia Bank has announced the sale of its private wealth business in Singapore and Hong Kong to Singapore’s OCBC.
BCG: Chinese HNWIs assets to double by 2021
The investable assets among high net worth individuals (HNWIs) in China are expected to double to RMB 111trn ($16trn) in 2021, from RMB 54trn last year, according to a report from The Boston Consulting Group and Industrial Bank.
Survey: Asia WMs single out strict regs as top concern
Tightening regulations are top of mind for Asia’s wealth managers, as well as how to get a share of Asia’s growing wealth pool, according to Singapore-based Arete Financial Partners.
FSDC proposes new structured products
Hong Kong’s Financial Services Development Council (FSDC) recommends broadening of the domestic listed structured product range by introducing yield enhancement, participation and capital-protected products.
Hong Kong PBs slow hiring during shakeout
Consolidation in Asia’s private banking industry has slowed hiring of professionals in Hong Kong, according to Sunny Kwak, Hong Kong-based consultant for private banking at recruitment firm Morgan McKinley.
StanChart in hiring spree as other PBs pull back
As the private bank industry consolidates in Asia, Standard Chartered reveals several recent senior hires for its Greater China and North Asia (GCNA) private bank and wealth management teams.
HK seeks more private bankers for local, China clients
There is a huge demand for relationship managers to look after high net worth (HNW) clients in Hong Kong and mainland China, a trend which is expected to continue in the coming year.
