Benchmarking

StanChart AuM up 12 percent globally, 26 percent in Asia

Wed, Mar, 3 2010

Standard Chartered’s wealth management arm posted a 20 percent decline in operating income in 2009 after a collapse in demand following the financial crisis.

New Sarasin fee model delivers profit hike

Tue, Mar, 2 2010

Bank Sarasin saw net inflows of 17.9 percent across its business in 2009 and is on track to exceed its target of CHF100 billion in assets under management later this year.

Standard Chartered to double RMs in India

Wed, Feb, 17 2010

Standard Chartered Private Bank will double its relationship managers in India to 100 by 2012 and has opened a private banking office in New Delhi’s Connaught Place.

Barclays’ Varley wants bigger Wealth arm

Tue, Feb, 16 2010

Barclays Wealth is planning to double client facing staff numbers and upgrade its technology platform in 2010 with an investment of £350 million. Two thirds of the investment will be spent on upgrading the bank’s systems, with the remainder to be directed towards new hires, according to a spokesman.

Credit Suisse Asia-Pacific AuM grows 46%

Fri, Feb, 12 2010

Asia-Pacific assets under management at Credit Suisse increased 45.6 percent to CHF67 billion – the highlight of a bullish set of results for 2009. Net new assets from wealth management clients (which excludes institutional flows) totalled CHF108.6 billion, up 5.3 percent for the year, compared to 5.8 percent in 2008.

UBS ’09 outflows top CHF100bn

Tue, Feb, 9 2010

UBS shed CHF33.2 billion in client assets in the fourth quarter, taking its outflows for the year of CHF101.3 billion ($94.69 billion), 6.3 percent of 2008 year-end assets. The 2009 net new money figures are only slightly better than those of 2008, when CHF123 billion (5.4 percent) was moved out of the bank by clients.

AuM growing 30% in entertainer segment

Mon, Feb, 8 2010

Private banks are missing out on the market for professional sportspeople and entertainers, currently growing at 30 percent a year according to an industry forecast. Steve Talboys, a director at Aon, the insurance broker, said just three of his 370 sporting clients had their investments managed by private banks.

VP Bank to double Asia-Pacific team

Tue, Jan, 26 2010

Liechtenstein’s VP Bank expanded into Asia by setting up a subsidiary in Singapore in June 2008, a few months before the global financial crisis really hit hard. Looking back, the timing was both good and bad. In an interview in the fourth quarter of 2009, Reto Isenring, managing director and CEO for VP Bank in Singapore, said that business immediately slowed down after the crisis broke

BoC steps up overseas focus

Tue, Jan, 26 2010

As power both political and financial flows ever increasingly East, it seems only a matter of time before an Asian financial institution makes its name among the globe’s private banking elite. More than half of the delegates at the Private Banker International Wealth Summit, our annual conference and awards in held in October, said they expected this to happen within the next five years.

Onshore on the up in Brazil

Tue, Jan, 26 2010

With only 34 percent of HNWI wealth in Brazil managed by private banks, there is some $180bn of client assets up for grabs, according to PBI research. Government plans for a tax amnesty could double the amount of funds held in the country, providing a further boost to the industry. Rodrigo Amaral reports