While online wealth management is driven by the demand from newly minted millionaires in the Silicon Valley, Nick Hungerford sits down with Private Banker International to discuss how he is pioneering the trend in the UK as the first online discretionary manager. By Caroline Ng.
As a merger wave sweeps the private banking landscape in Asia, the spate of consolidation has created ripples of concern as well as opportunities for players in the industry. Caroline Ng and Sruti Rao investigate the drivers behind the trend and its impacts.
Asia’s private banking sector will accelerate its pace for consolidation this year driven by increasing cost pressures and wafer-thin profit margins, the head of UK private banking consultancy firm said.
As family offices rapidly expand in Singapore, private banks are left with little choice but to strike mutually beneficial partnerships to manage the rising fortunes of Asian tycoons, writes Caroline Ng.