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November 27, 2014updated 04 Apr 2017 1:51pm

Coutts sees senior departures in Asia amid sell-off talk

Coutts, the wealth management unit of RBS, has seen the departure of two more senior executives from the Asian business as it seeks a buyer for its overseas business.

By Verdict Staff

Coutts, the wealth management unit of RBS, has seen the departure of two more senior executives from the Asian business as it seeks a buyer for its overseas business.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The pair who has quit the firm includes Kin Cheung, head of active advisory for North Asia, and Kenny Wan, head of investment consulting for North Asia, reported Asian Investor.

Cheung has left the firm to join DBS Private Bank as team head for marketing in Greater China. He worked at Coutts for four years and was reporting to Johnny Heng, Asia head of investment services based in Singapore.

The bank has not yet confirmed a replacement for Cheung, while Wan will be replaced by Horace Wong, former executive director for investment consulting.

Source said that Coutts Asia business has been strike by a string of departures in recent months.

A Coutts spokesperson said that staff attrition was normal at this time of the year.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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