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2012 Private Banker International Yearbook

  • ID: 2148913
  • Report
  • March 2012
  • Region: Global
  • 80 pages
  • Timetric
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  • Altamount Capital
  • Coutts
  • Credit Suisse
  • DBS
  • Investec
  • Pictet
  • MORE
- This yearbook includes summaries of the developments in the wealth management industry during 2011
- This VRL report includes interviews with senior executives at some of the largest global wealth managers
- Find out what the views of industry leaders are for the prospects for wealth management over 2012
- Content includes a round-up of the year’s thought-provoking articles

The world’s private banking industry is in the midst of a tectonic shift. Like earthquakes, these seismic shakes have been of differing strengths with a variety of effects. Some of this movement is constant and subtle, slowly shifting beneath the surface and rumbling along without creating great ripples. The well documented re-balancing of global wealth from West to East is a classic example of this, a gradual process of wealth creation in new markets. Yet some of these effects have been violent and abrupt structural changes have shaken the industry severely. Several regulatory shocks have rocked the industry in 2011, and look set to continue in 2012. This has increasingly been led by US authorities, looking to claw back taxable assets from their citizens. As many as 15 private banks are understood to be being investigated by the US Department of Justice and Internal Revenue Service. Wegelin & Co, one of Switzerland’s oldest banks, was a victim of sustained regulatory pressure early in 2012. Credit Suisse, HSBC, Julius Baer and others are all known to be in conversation with US authorities and the effects of other regulators are also being felt. European regulators blocked the sale of KBC’s private banking unit, KBL, in 2011. The UK’s Financial Services Authority also stepped up the number and severity of fines it dished out to a range of wealth managers in 2011. The Foreign Account Tax Compliance Act (FATCA) is also waiting in the wings. This external pressure is having a knock-on effect on banking businesses as whole operating models are re-aligned to adapt to new environments. These changes are driven in part by regulation but also by wider macro-economic trends such as the Eurozone crisis. It is far from business as usual for wealth managers. It’s more akin to business unusual. What is clear is that regulation, compliance and stricter enforcement are part of this new operating environment. In 2012 and beyond, wealth managers will need to focus on transparency and performance to increase client asset bases. Private banking strategists should be wary of these challenges, but not be overwhelmed by them. Global high net worth wealth continues to rise and international banks are recognising the intrinsic value of their private banking client bases. Embracing the struggle and adapting to this new operating environment is crucial for successful, sustainable businesses. These tectonic shifts also provide the chance for some much needed introspection.

- A bottom up review, with many top level interviews with senior industry figures
- A number of country surveys and market analysis are also included
- Excerpts from two wealth sector reports
- Interspersed with charts and tables tracking the key events during 2011

Reasons To Buy
- Review a strategic overview of the global wealth management industry
- See what senior executives think 2012 will hold for private banking
- Review 2011’s most thought-provoking articles
- Investigate the opportunities for market growth across your region
- Implement strategic market positioning and customer segmentation

Key Highlights
- Increased regulation – a key theme in 2011, is set to continue into 2012
- The Eurozone crisis is one of many issues causing banks to adapt their business models. The process is on-going, the results so far are unclear
- More transparency and better absolute performance will be needed to win more AUM
- Evidence to date is that models and marketing that works in developed markets has less appeal in emerging markets, and vice versa
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  • Altamount Capital
  • Coutts
  • Credit Suisse
  • DBS
  • Investec
  • Pictet
  • MORE

1 News Review
1.1 Deutsche’s $553m US tax payout
1.2 SocGen set goal to double AUM to $150bn
1.3 Regulators block KBL sale to Hinduja
1.4 Julius Baer $72m investigation settlement
1.5 Sarasin Rabobank pact
1.6 EFG performance forces CEO shake-up
1.7 HSBC halts offshore services to US citizens
1.8 Evolution wins Evolution bidding war
1.9 Clariden Leu folds back into Credit Suisse
1.10 UBS UK managers fined £1.3m for misconduct
2 Features
2.1 Coutts’ Rory Tapner
2.2 What impact will apps have on private banking?
2.3 Country survey: Australia
2.4 Brazil widens its horizons
2.5 Market analysis: non resident Indians
2.6 Country survey: Turkey
2.7 Interview: DBS’s Tan Shu Shan
2.8 Interview: Sarasin’s Fidelis Goetz
2.9 Interview: HSBC’s Chris Meares
2.10 Credit Suisse’s plans for Asia Pacific
2.11 Family Office growth in 2011
2.12 Asian investment strategies
2.13 Interview: Yves Mirabaud
2.14 Market analysis: Asian HNW
2.15 How back office investment can reap rewards
2.16 Interview: RBC’s George Lewis
2.17 Regulatory impact analysis
2.18 Interview: Deutsche’s Salman Mahdi
2.19 Market analysis: India
2.20 Market analysis: the growth of female clients
2.21 Market analysis: Asia’s middle income clients
3 Research
3.1 South Asia’s Wealth Diaspora
3.2 The Multi-Family Office

List of Tables

List of Figures
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Credit Suisse
Standard Chartered
Altamount Capital
Wells Fargo
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