As the wealth of Asia-Pacific's high-net-worth individuals continues to swell, so too does the size and reputation of the region's private banking industry. This is leading to speculation about whether its two main hubs – Singapore and Hong Kong – may be growing to such status that one day they will replace Switzerland as the global private banking capital.
Latest articles from Stefania Palma
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SBI continues to blaze its UK trail
January 5, 2015As his three-year term as State Bank of India's regional head for the UK draws to a close, Mrutyunjay Mahapatra talks to Stefania Palma about SBI's regional expansion, regulatory developments and the importance of emerging markets and their banks to the UK.
The Asean Economic Community's many layers
January 5, 2015Progress towards the integration of the economic community of the Association of South-east Asian Nations in 2015 has been impressive, but challenges remain as member countries attempt to bring together very different values.
Citi rides the Asian tiger
December 1, 2014With global expansion focused on the Asia-Pacific region, Citi is uniquely positioned to take advantage of this growth, with its long presence in the region. Its chief executive in the region talks to Stefania Palma.
Consolidation? Internationalisation? How to deal with Taiwan's excessive liquidity
November 19, 2014Taiwan’s banks may have performed perfectly adequately in recent years, but now with increasing internationalisation, consolidation in the market and new tools for managing the country’s excess liquidity, the sector is poised for a hike in growth.
Highs and lows in the South Korean banking sector
November 3, 2014South Korea's banks have enjoyed mixed fortunes in 2014, a year that has seen high-profile scandals rock the country's largest lenders and in which innovative hybrid funding has characterised a spirit of innovation and growth among the country's small and regional players.
Hong Kong retains competitive advantage
November 3, 2014Hong Kong’s banks are unfazed by the student protests that have captured the world’s attention. Bankers remain upbeat about prospects for the continuing internationalisation of the renminbi, the maturing dim sum market and Hong Kong’s inclusion in China’s growth plans.
Why Hong Kong must fight for its democratic rights
October 27, 2014Former chief secretary of Hong Kong, Anson Chan, tells Stefania Palma about the difficulties facing pan-democratic parties in Hong Kong, and defends the city-state's political protesters, saying that universal suffrage is long overdue.
The offshore renminbi bond market's road to sophistication
October 1, 2014Despite the plunge in the value of the renminbi earlier this year and growing concerns over China's long-term growth, the offshore renminbi bond market shows no signs of slowing down. Issuance volumes continue increasing annually, but most importantly the market is becoming more sophisticated.
Will CIPS soothe renminbi payment headaches?
October 1, 2014The Chinese government and the People’s Bank of China are yet to disclose the formal details concerning China’s International Payment Platform, but there is little doubt that the new system will fundamentally change the renminbi clearing market as well as the future of offshore renminbi hubs.