The opportunity to service retail and wealthy clients in Asia has fired banks’ ambitions to boost their distribution power. Here are the banks that have made the boldest moves to become regional champions.
Entrepreneurial zeal and lack of investment experience have given rise to unrealistic return expectations, says Kaven Leung, the Swiss private bank’s head of North Asia.
The bank is targeting Chinese hedge fund start-ups and sees strong potential to leverage relationships with its private bank and investment banking clients.
The private bank partners with Bank of China to mutually cross-refer clients as a first step in developing a deeper business proposition in the country.
Bank of China launches a fund of funds that invests in emerging market portfolios of Morgan Stanley, Templeton and First State.