Private Banking

DBS buys private banking business of Societe Generale in Singapore and Hong Kong

Singapore-based DBS is hoping to tap some of the wealth being created in China. Photo: AFP

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 operatio

Tuesday, 18 March, 2014, 1:10am

'China's rich always ask how to keep wealth in the family', reveals Ariane de Rothschild

Ariane de Rothschild says that many Chinese clients felt at a loss about how to ensure that their second or third generations retained the family wealth. Photo: Felix Wong

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 17 comments

Julius Bär eyes Asian clients after Bank of America Merrill Lynch acquisition

Boris Collardi, the chief executive of Julius Bär, says the Swiss firm's technology hub in Asia would remain in Singapore. Photo: Bloomberg

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 wealthy take 2.8tr yuan overseas - and it's expected to double

Shoppers pose for a picture in front of a Chanel luxury boutique at the IFC Mall in Shanghai. Photo: Reuters

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

Credit Suisse targets the richest of the rich in Asia

The main entrance of Credit Suisse in Zurich. The bank is ready to spend on its clients. Photo: Reuters

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

Asian banks win as rich seek safety

Renato de Guzman, the head of Bank of Singapore. Photo: Jonathan Wong

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

BOC branches into private banking

Jason Yeung and Wendy Tsang say a strong branch network and mainland connection will help the bank's new business. Photo: Sam Tsang

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 lays off private bankers

Morgan Stanley bankers laid off

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

Swiss bank Pictet & Cie opens branch in Hong Kong as part of Asian expansion

Claude Haberer

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

Eyes on pioneering private bankers

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

Rich clients spreading the wealth, PwC finds

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

Private banking boosted as the rich get richer

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

Building relationships opens doors in private banking

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

Citicfirst's open architecture gives customers more options

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

Banking group needs a director for the wealthy

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