China is the 'last frontier' in the wealth management world but it is set to consolidate in the next two or three years, according to senior executives at Bank Sarasin-Rabo (Asia).
Demand for professional people is unlikely to be matched by supply in the short term, according to Hong Kong-based Kenneth Sit Yiu-sun, chief executive of the bank.
Fidelis Goetz, head of the international division at the bank, said: 'We see a lot of new players entering the market.
'[However], in the next two to three years, we think that there will be a consolidation in the market.
'There are large houses that try to be everything to everybody. And there is the boutique model with a dedicated client base.
'We are clearly a dedicated boutique private bank. We think this is the right way to go and this is where the market is heading.'