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.
Tighter cross-border rules, less arbitrary national government policy and improving returns at home are likely to prompt rich investors from emerging markets to move assets back onshore.
The shortage of relationship managers has become acute against increasing client wealth over the past five years, writes Scorpio Partnership.
High-net-worth individuals in Asia Pacific have the highest average of 4.8 relationships each, while their main wealth managers have the lowest share of wallet – exactly the opposite of the Americas.
There are more than half a million wealthy individuals in the Gulf Cooperation Council region with too few private bankers to serve them. It could be time for wealth managers to step up.
Global investors are turning to Africa to harness opportunities and tap the continent’s emerging wealthy. But Scorpio Partnership asks: will this be at the expense of Asia?
Global private banks saw an average increase in inflows of 23.7% last year, driving industry AUM to $18.5 trillion, finds Scorpio Partnership. But the top 20 are pulling away.