Wealth Management

The bank plans to expand its relationship manager team by 50%.

The bank will provide quasi-institutional investment solutions.

The report surveyed 13,500 individuals with a net worth between $3m and $99m. 

Brookfield has US$850b in AUM whilst Oaktree has US$183b in AUM.

StashAway says 80% of affluent clients are receptive to receiving advisory services from AI and other digital channels.

The Institutional Clients Group’s net income for Asia went up 31% compared to Q1 2022.

Majority of investments flowed to fixed income funds and hedge funds.

It will standardize the front, middle, and back office of UnionBank’s wealth mgmt functions.

And Credit Suisse names new head of private banking in Switzerland.

Kelly Greig will offer tailored advice and services to affluent clients in Asia.

Both banks posted dismal wealth results in Q1.

Technology-based investment solutions can crunch numbers faster than any human, are less prone to emotion-driven decisions and they never sleep. And in many cases, they don’t charge as much as their human competition.

Yap has served as interim head since November last year.

The bank’s new centre has been refurbished with lounges for affluent banking clients.

The bank has also hired a senior wealth planner, to be based in Singapore.

Wealth managers are called to ramp up digital services for retired investors.