Two-thirds of chief executives in the asset and wealth management industry believe technology will reshape their business over the next five years, but just 10% are prioritising the development of digital skills and capabilities within their companies.
One of Australia’s biggest and oldest independent financial advice and wealth management companies, IOOF, has posted a 45% drop in net profit for the six months to 31 December 2016.
Investors in Hong Kong still prefer a commission-based charging structure when it comes to paying for wealth management services, while their mainland Chinese counterparts are increasingly opting for a fee-based model, according to the Hong Kong Investment Funds Association (HKIFA).
Lombard International Assurance welcomes the increasing complexity in providing cross-border planning solutions for high net-worth families as it is their bread and butter, and one of the reasons the company has grown so successfully over the years.
There is a huge demand for relationship managers to look after high net worth (HNW) clients in Hong Kong and mainland China, a trend which is expected to continue in the coming year.
Wealth management firms in Asia are ramping up domestic recruitment due to rising demand by Asian clients for advice from managers with local knowledge, language skills and cultural understanding.
Barclays is to sell its French retail banking operations, life insurance business, and wealth and investment management operations to European financial services private equity firm AnaCap Financial Partners.
With a mistrust of global macro managers and concerns over an economic cycle ‘de-fanged’ by central banks, Cerno’s co-founder is drawing on his ‘apprenticeship’ in Asia to inform his current investment choices.
In the third of a series of three independent reviews of international life products, Brian O’Neill, consultant at Isle of Man-based actuary and consultancy firm Boal & Co, puts the spotlight on Old Mutual International’s Wealth Management Plan.
ANZ Bank is considering selling its life insurance, advice, and superannuation and investments businesses in Australia which would see one of the country’s largest financial institutions effectively withdraw from the wealth management sector.
Wealth management firm Meyado is to see a change at the top after Singapore chief executive Mark Paine announced plans to buy out the shares of the group’s founder and chairman Martin Young.
The trend of banks offloading assets continues as Singapore-based DBS acquires ANZ’s WM and retail units in Asia, adding S$23bn ($16.5bn, £13.5bn, €15bn) of wealth assets, which includes S$6bn from high net worth individuals.
