Rico Caduff, head of Deutsche Bank Private Wealth Management, Asia-Pacific, sees a very bright future for private banking in Asia and his own bank's operation in particular.
'It is looking extremely good, not only because the region is doing well and enjoying significant growth. In line with that, we see a lot of new wealth being created,' Mr Caduff said.
'With our platform, we have every intention of growing by much more than the market growth. If the projections are for 7 per cent market growth, we will try to grow by 20 per cent or more again. And indications are very positive.'
Mr Caduff said his bank's private bank operation in Asia had already enjoyed more than 20 per cent growth in both revenue and assets per year over the past five years.
Deutsche Bank, one of the world's biggest banks, had enjoyed healthy growth in private banking in Asia despite being a fairly recent entrant to the market, Mr Caduff said.
'We were a little late in starting private wealth management in a very active way in Asia. Other major players have been around for something like 30 years, while we have been here more like 10 years. But we have nevertheless had very good growth.
'We think we are very well positioned here, both in terms of quality of relationship manager and the product range, the platform we can offer here.'
