Two wealth management recruiters have left for pastures new, as search executives point to the difficulties presented by regulation.
It continues to rebuild by hiring the ex-head of private bank sales from HSBC to run Asia products and services out of Hong Kong.
They reveal a smarter way to work for asset managers, who are expected to focus more on private banks. But institutional sales hold the key.
The use of private banks by Asian family offices is set to shrink in the next few years, say FO executives, who concede they themselves face significant challenges.
Regional head Andrew Hendry has been busy hiring in Singapore, and the UK fund house this week became incorporated in Hong Kong.
Wealth managers outline their priorities for selecting third-party products, with fund performance just one part of a rigorous process.
Tan Su-Shan says the Singaporean firm is well positioned to benefit from the easing renminbi rules in Hong Kong and plans to launch another specialist China fund this year.
DBS, JP Morgan and UBS voice concern about mass poaching of relationship managers, noting that clients are tiring of the recruitment 'merry-go-round'.
As renminbi liberalisation continues, Clariden Leu is considering applying for a banking licence in Hong Kong, alongside Julius Baer and other wealth management firms.
Like other consultants, Russell Investments is increasingly looking to provide services to the region’s wealth-management market, such as its OpenWorld funds platform.
The UK bank is continuing the rollout of the Comet pricing and execution system it launched for private banks last year in Hong Kong and Singapore.
The German bank has hired Chris Lee from UBS to replace Nitin Nath as head of private bank and retail sales.
Demand will continue to outpace supply in the inflation-linked market, from both traditional and new investor types, says Philippe Descheemaeker of Axa Investment Managers.
While an asset-liability management approach to private wealth is beneficial, it can't be applied in all cases, says Jennifer Tay of Citi Private Bank.
Private banks that don't focus on profitable segments won't make it, says Scorpio Partnership.
The Asian desks of global private banks are playing a bigger role in choosing fund managers, but finding enough candidates with sufficient experience in the most attractive ...