The Chinese institution is close to becoming one of the world's biggest private banks by assets under management, a survey by Scorpio Partnership shows.
China Merchants Bank and ICBC have leapt into the ranks of the 25 biggest private banks by global AUM for the first time, fast outgrowing their international peers, finds new research.
The attraction of the internet is luring high-net-worth Asians away from wealth managers as they look for investment opportunities in blogs and social media, raising questions over traditional sources of advice.
The wealth management industry needs to better service families in Asia that are navigating competing and sometimes conflicting values as they transfer wealth, knowledge and skills.
Singapore – already close to matching Hong Kong as a wealth centre in terms of assets – could be getting a boost as a result of the recent protests, argues Scorpio Partnership.
An overheating Asian property market and a depreciating US dollar are prompting Asian investors to seek diversification and returns in US real estate.