Private Banking, Regional Asia - Thursday, July 1, 2010 20:44 - 0 Comments

Asian private banking pulls out of crisis

Euromoney, July 2010

Asian private banking has felt a curious impact from the financial crises in the west. Asian economies, some blips apart, have sailed through everything from US sub-prime to Southern European sovereign debt problems with little direct impact; their stock markets, though, have plunged with the rest. And many clients in Asia, diversified into world markets, have been hit as badly by global problems as if they had been sitting in New York or London the whole while.

Correspondingly Asian high net worth clients, and their bankers, have done as much soul-searching about risk and portfolio strategy as anyone else. As elsewhere in the world, there has been a shift away from complexity; an increasing awareness of the need for a diversified and stable portfolio; heightened willingness to seek and pay for risk management services; deleveraging; and a loss of trust in many hedge fund and other alternative asset managers. Continue…

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