Citi analyst Craig Williams noted that the banks' wealth arms, largely acquired in the early 2000s, had not become "the fast growing, low capital intensive earnings stream" the lenders had expected.
DBS Private Bank, which snapped up Société Générale's Asia private banking business for $220 million last year, is still on the look-out for acquisitions as it seeks to burnish its regional ambitions.
The Financial Index Wealth Accountants planning group will drop its name and adopt that of acquired group Centric Wealth, according to FIWA chief executive, Spiro Paule.
European investment opportunities are becoming less enticing for Russia's millionaires, who are looking to the Asia-Pacific region, research reveals.
Wilson HTM has jointly acquired the private wealth, corporate advisory, institutional equities and research business from its listed parent Wilson Investment Group (WIG), along with Deutsche Bank and Craigs Investment Partners.