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Blue blood banks

Jasper Moiseiwitsch offers a guide to private banking in Hong Kong

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Hanspeter Brunner, BSI Bank.  Photo: Bloomberg

There are many private banks out there. It can be difficult for a client to get a sense of what makes a bank stand out from the rest. Herewith, a guide:

Bank Sarasin & Cie

Established in Hong Kong in 1995. In March 2010, Hong Kong became home to Bank Sarasin's first bank branch outside Switzerland.

None.

Pure private bank that backs sustainable (read: environmental) investing.
In November 2011, Rabobank, Bank Sarasin's main shareholder since 1992, sold its majority stake to J. Safra Companies, a European private bank with a strong presence in the US and Brazil.

'Our complete and sole focus is wealth management ... Translated that means we spend a lot of quality time with our clients, since private banking is all about maximising the experience for the client,' says Enid Yip, chief executive Asia of Bank Sarasin.

Pure-play boutique bank that has seen through some significant changes, and is now refocused on the business of wealth management.

 

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Barclays Wealth

In Hong Kong since 1972. The booking centre (giving the bank the ability to book trades onshore) opened in 2010.

None.

Barclays uses behavioural finance to advise clients on a style of investing that matches their goals and their personalities.
What they say:
'With over 300 years of history and expertise in banking, Barclays offers clients the security of a strong global brand alongside an entrepreneurial 'start-up' environment.'

Traditional English name linked to a strong investment bank that is pushing into the ultra-high-net-worth segment. Its platform of investments and products and services is evolving.

 

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BNP Paribas Wealth Management

The parent bank has been in Hong Kong for more than 50 years.

The private bank was launched in Shanghai in 2006

Strategic partnership with Bank of Nanjing, and its Fortis Haitong joint venture (an asset manager) means the firm can offer investments sourced from the mainland. If you are one of the bank's 'key clients' - that is, you are worth more than US$30 million - the bank will provide services such as jet and yacht financing; 'agrifrance' which helps clients purchase farm and forest land and vineyards in France; and advice on buying property in Europe.
What they say:
'We are deeply rooted in Asia, with a presence since the bank was established more than 150 years ago. We are strong, stable and resilient with solid profitability despite the difficult market cycles.'

A big bank with a long history in Hong Kong. The private bank is a generous lender to its long-term clients.
The French banks, BNP included, had a scare in 2011 because of the amount of euro-zone sovereign debt found to be held by the institutions. But the situation has stabilised.

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