In 1H21, the bank's Asian wealth balances soared, concurrent with improved digital capabilities and new sustainable offerings that aim to cater to Asian client demand.
Asia's wealthy are defined by young demographics and ambitious entrepreneurs, forcing private bankers to rethink their models, according to Shayne Nelson, CEO of Standard Chartered Private Bank.
DBS Private Bank hires veteran Chan Kwee Him to spearhead the growth of its high-net-worth business in Indonesia, and also names Bryan Goh as head of alternatives.
A Societe Generale Private Banking survey finds that ultra-HNWI have increased their due diligence following the financial crisis and are putting more emphasis on trust and transparency than on high returns.