DBS, Southeast Asia's largest bank, is paying US$220 million for the private banking business of Societe Generale in Singapore and Hong Kong and selected parts of the French bank's trust business in a trend that has seen Western banks unload their private banking operatioTuesday, 18 March, 2014, 1:10am
Ariane de Rothschild, who ranks second only to her husband, Benjamin, at the legendary financial dynasty's Edmond de Rothschild Group, says rich Chinese friends and clients ask her the same question whenever she visits the mainland: how can you keep your family wealth for generation after generation? And how has the Rothschild family done that for centuries?2 Dec 2013 - 11:22am 18 comments
Julius Bär expects to report a loss this year in the wake of the deal in August last year. Positive returns would start to kick in next year, as the integration of the businesses picks up steam, chief executive Boris Collardi said.31 May 2013 - 4:41am
China’s top affluent citizens sent 2.8 trillion yuan (HK$2.5 trillion) overseas in 2011, about 3 per cent of the nation's gross domestic product that year, said a report by the Boston Consulting Group and China Construction Bank.12 Mar 2013 - 12:00pm 4 comments
Global private banks always chase wealthy clients, but Credit Suisse has narrowed its quarry further - to the richest of Asia's rich.22 Nov 2012 - 3:41am
When the world's richest people want to manage and grow their wealth, they now consider safety of assets, not investment return, as the top priority, following the 2008 global financial crisis that originated on Wall Street.15 Nov 2012 - 5:02am
While investment banks across the town are laying off staff, Bank of China (Hong Kong) is on a hiring spree for its newly launched private banking business.
The lender, one of the largest retail banks in the city, yesterday announced the launch of private banking services for customers with at least US$2 million to invest.8 Nov 2012 - 2:22am
Morgan Stanley this week laid off several private bankers, including one vice-president and some associates and analysts.
The bank joins several of its peers in Hong Kong that have been firing private bankers, in a year marked by weak markets, dwindling client appetite for investment and trading, and intense competition.8 Nov 2012 - 4:36pm
Pictet & Cie of Switzerland, the world's 11th-largest private bank in terms of assets under management, has set up a branch in Hong Kong to foster its expansion into Asia.
The bank has been operating in Hong Kong for 26 years as an investment company and regulated by the Securities and Futures Commission.22 Oct 2012 - 4:47am
Amid the overcast economic outlook, Hong Kong appears to be a bright light beckoning a host of financial companies, all vying for continuing growth.16 Dec 2011 - 12:00am
In Asia, client loyalty does not come easily for private banking firms, especially after the huge losses investors experienced in the 2008 financial crisis.6 Sep 2011 - 12:00am
Hong Kong is home to more US-dollar millionaires than ever, and the demand for private bankers to help them get richer is rising in tandem.
George McFerran, head of Asia Pacific for recruitment website eFinancialCareers, said the number of job advertisements for private bankers in the region jumped 173 per cent in the past 12 months.10 Jul 2011 - 12:00am
If you love working with people and have a knack for investing, private banking might be the perfect career for you.
Alan Luk, assistant general manager, head of private banking and trust services at Hang Seng Bank, says he enjoys his working relationship with his clients and has learned a lot from them.15 Apr 2011 - 12:00am
Most private banks have a minimum amount for opening a private bank account. Most require at least US$250,000 on average to open an account, but some require at least US$1million.
For those that do not have enough assets for an account with a private bank, most retail banks in Hong Kong now have wealth management arms to fill in the gaps which some private banks have ignored.20 Apr 2008 - 12:00am
Jump at this chance to grow your career. A world leading banking group and wealth management business is seeking a director in portfolio management sales and aimHigher Consultancy is handling the search.2 Feb 2008 - 12:00am