Wealthy individuals are increasingly shifting assets out of the city and considering moving themselves elsewhere too, amid rising sanctions and lost confidence, say financial advisers.
Family offices in the US are increasingly keen on building investments in Asia and especially China. But doing so can be tricky, which is leading many to seek partners.
A new generation of wealthy people sees the potential of adding modern technology into their family offices. But traditional skills and experience are also a vital commodity.
The Swiss firm has hired its first private bank chief based in China, as it continues to build out local businesses in Asia. It's not clear whether it is still seeking local mainland partners.
Singapore’s DBS is hungry for more acquisitions after agreeing to buy ANZ’s Asia retail and wealth business. But ABN Amro’s Asian private bank may be another step too far, too fast.
The Italian bank is busy hiring as it prepares to launch a wealth management business in China next year, its first in Asia. It already holds stakes in local firms, but will face fierce competition.