With Asia’s post-war business moguls now well into retirement, an unprecedented amount of wealth is set to pass to the next generation, representing an enormous business opportunity for banks.
Latest articles from Singapore
Hong Kong has shown impressive growth in its foreign direct investment attraction, recording the largest global inward investment in the financial services sector.
As the economic scales tip in favour of emerging economies – particularly those in Asia – it seems increasingly likely that one of the region's leading financial centres will steal the status of global wealth management capital from Switzerland. The question is, which city will it be?
With the recent Libor scandal failing to shake asset managers' confidence in London, emerging centres will have to work hard if they are to overtake the UK capital as the world's leading asset management centre.
As Asia's population grows richer, the continent's wealth management industry is struggling to keep pace and meet the needs of the ever-expanding number of high-net-worth individuals. Gone are the days of simply poaching such staff, and many banks are now focusing on producing home-grown talent.
Singapore and Hong Kong continue to attract the highest levels of foreign direct investment among Asian international finance centres. But there is change afoot elsewhere, with increasing levels of investment in Beijing causing it to replace Shanghai as the third most attractive Asian IFC for FDI.
Please select an area to explore
Most popular content
Most popular videos
- Interview with Laura Cha, chairman of financial services development council, Hong Kong SAR Government
- Ch 1. The cost of staying ahead: Can banks afford it? - Staying ahead of the game
- Investment Banking Awards 2013 highlights
- Arun Jain, chairman and CEO, Polaris Financial Technology
- Chapter 2 of 4: Digitising Banking; Applying the principle of Big Paper to PPI