More wealth industry consolidation looks inevitable in Asia, as firms face higher costs, margin compression and rising competition from independents. They must adapt, but how?
An executive from a single-family office argues in favour of in-house investment staff over external managers. Mark Smallwood of Deutsche Asset & Wealth Management disagrees.
Technology and service improvements are key if private banks are to strengthen their coverage of independent asset managers, said panelists at an AsianInvestor forum.
Deutsche Asset & Wealth Management is to make a concerted bid for high-net-worth clients and will expand its Asia retail bank distribution, a senior executive tells AsianInvestor. The firm is also growing its headcount.
The future of open architecture platforms following recent mergers of wealth and asset management arms has been subject to debate by industry players. Branding and clients' trust are seen as key issues.
Most high-net-worth Asians have achieved their wealthy status in the past 20 years -- they now face the issue of how to pass on their fortunes, say private bankers.