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Private banking

Private banking
Latest news and features on private banking.
last updated:
9 September, 2024
Jason Yao, head of Greater China at Ardian. Photo: Handout
Banking & finance

Asian investors play big role in megafund focused on secondary PE market

Investors are paying more attention to secondary PE market amid global volatility and liquidity crunches.

Banking & finance

Hong Kong gets a boost as 3 global hedge funds open offices, recruit staff

Vietnam

Asian Angle | Vietnam’s private banking sector has a ‘chronic disease’. Can it be treated?

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Family offices

Bankers say new tax concessions to boost Hong Kong’s status as family office hub

UBS, JPMorgan and BNP Paribas among key players seeking to attract family offices.

Hong Kong is a good base for family offices because of its proximity to mainland China, according to analysts. Photo: Nora Tam
Banking & finance

Hong Kong employers seek more relationship managers and data analysts next year

Human resource professionals also say customer due diligence officers are in demand.

Banking & finance

Chinese money fuels hiring spree among private banks in Hong Kong

Wealth managers like UBS, Bank of Singapore and Julius Baer are expanding teams to cater to surging mainland Chinese money.

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Mergers & Acquisitions

China’s 2025 M&As may rise 15% as deals bottom out, UBS says

UBS says China M&A deal volume fell 10 per cent in November from a year earlier to US$297 billion.

Samson Lambert Lo of UBS. Photo: Aileen Chuang
Wealth management

Blackstone to train Hong Kong wealth managers as private assets gain favour

Alternative asset manager launches Blackstone University programme along with Private Wealth Management Association.

Banking & finance

Opinion | How tech firms began to eat banks’ lunch

Technology companies are steadily moving into territory once dominated by banks, and they won’t stop at payments and lending platforms.

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Family offices

Exclusive | China’s ‘long-term growth story’ draws European family offices to Hong Kong

Wealthy European families approve of Hong Kong’s family office-friendly policies, says wealth-management CEO of French bank BNP Paribas.

Hong Kong Island’s central business district, photographed from the Hong Kong Monetary Authority headquarters in the International Finance Centre on October 18, 2024. Photo: Jelly Tse
Family offices

Insiders say running a Hong Kong family office is a delicate balancing act

‘Emotion stays away from the boardroom. That’s critical,’ says Mahesh Harilela.

Mahesh Harilela on Friday. Photo: SCMP
Family offices

Hong Kong has to work harder to maintain family office hub status: official

Hong Kong is set to surpass Switzerland as the top cross-border wealth management hub by 2027-28, but must stay competitive, says Joseph Chan.

Banking & finance

DBS posts 300% surge in semi-liquid fund sales in Greater China

Chinese private-banking clients have shifted away from equity-focused investments and increased their exposure to the US and Europe, according to DBS.

Banking & finance

More ultra-rich Chinese borrow against stocks amid liquidity crunch

With Fed easing imminent, ‘clients are once again comfortable using their stocks as collateral for project funding’, HSBC executive says.

A view of Hong Kong’s West Kowloon Cultural District, and Central (foreground), pictured from The Peak on July 17, 2024. Photo: May Tse
Banking & finance

HSBC’s new CEO shakes up management with focus on digital and wealth

Georges Elhedery, who starts on Monday, creates a group-level information officer role and names a new CEO for global wealth and personal banking.

A view of HSBC headquarters in Central, Hong Kong. Photo: Sam Tsang
Banking & finance

Asia wealth firms eye doubling of assets to US$260 trillion in 3 years

Asia wealth management firms have ambitions to double assets under management to almost US$260 trillion by 2026 from last year’s levels, according to a report by consulting firm Accenture.

Banking & finance

Deutsche Bank looks to Asia-Pacific wealth management to drive core growth

The German lender wants the region to contribute at least 15 per cent of its global revenue in the next two to three years as it hires senior bankers for its investment advisory, wealth management and private bank in the region, says CEO.

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Banking & finance

HSBC targets loans against private assets after acquiring SVB’s UK unit

HSBC sees opportunities to lend against wealthy clients’ private assets, as it leverages its balance sheet strength to finance this fast-growing market.

A tram passes by the HSBC Building in Central. Photo: Jelly Tse
Banking & finance

OCBC investing US$192m in Hong Kong, Macau to support business growth

The Singaporean lender’s digital banking capability will increase substantially and lead to greater use of AI and machine learning in its products and services, CEO Helen Wong says.

Mergers & Acquisitions

China’s Fosun International sells German private bank HAL to ABN Amro

The company, one of China’s largest private-sector conglomerates, aims to cut its debts by 10 billion yuan (US$1.38 billion) annually in the next two to three years.

Banking & finance

Asian Investment Conference: first UBS-hosted edition kicks off in Hong Kong

Former US secretary of state John Kerry and Thailand’s prime minister Srettha Thavisin are among the speakers and 3,000 attendees as UBS continues the flagship Hong Kong conference started 27 years ago by Credit Suisse.

Thailand’s prime minister Srettha Thavisin gives a thumbs-up during a news conference at government house in Bangkok, Thailand, on April 10, 2024. Photo: AP
Banking & finance

HSBC’s Silicon Valley Bank UK acquisition raises Hong Kong lender’s tech profile

HSBC arranged a three-day tailored programme in California last week for its Asian private bank clients to meet Silicon Valley start-ups and venture capitalists.

HSBC Holdings, which bought SVB for £1, has used the acquisition to raise its tech profile and its wealth management business. Photo: EPA-EFE
Banking & finance

Exclusive | Hong Kong has succeeded in attracting family offices: JPMorgan Private Bank

Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year, banker says.

Banking & finance

Bank of Singapore goes on hiring spree as it bets on ‘bullish Hong Kong’

The private bank has increased its headcount, mainly relationship managers and senior bankers, by 15 per cent this year. It sees Hong Kong, Singapore and Dubai as stepping stones to expand its business.

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Banking & finance

UBS weighs bonus for investment bankers who refer rich clients

UBS may start rewarding its bankers for referring clients to the firm’s wealth management business, in a first for the Zurich-based lender

A company banner outside the UBS Group AG annual general meeting (AGM) at St. Jakobshalle in Basel, Switzerland, on Wednesday, April 24, 2024. Photo: Bloomberg
Banking & finance

Exclusive | Chinese stocks are ‘cheap’ and ‘reasonably attractive’: EFG Asset Management

Swiss financial firm EFG has increased its investment in Chinese and other non-Japan Asian stocks, on expectations of steady growth in the region and driven by the belief the worst was over for stocks in China.

Daniel Murray, deputy CIO global head of research at EFG Asset Management, says opportunities abound in China’s stock markets. Photo: Sun Yeung
Millionaires and billionaires

HSBC sees growth in loans to ultra-rich backed by art, jets, other assets

The bank has ‘quite an active pipeline’ of loans based on such collateral owned by ultra-high-net-worth individuals, who are often asset-rich but liquidity-constrained, private banker says.

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Banking & finance

Asia-Pacific investors eye private assets despite inflation, high borrowing costs: State Street

High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.

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