Addressing the state of the wealth management industry first, Supornpaibul observes that the market is far more active than ever before, with participants focusing most of their energies on chasing down the onshore money rather than the offshore funds.
To put that in perspective, assets under management of the wealth management division of Malaysia’s Maybank, one of the largest banks in Southeast Asia, was $8.14bn in 2018 for both conventional and Islamic wealth management.
Private banking clients in Hong Kong have been accustomed to free advice, despite significant and growing investments made into market research, product selection and a myriad of platforms.
BEA has won "The Best Private Bank, Greater China", by significantly contributing to the way Banking is done by individuals.
Swiss private bank eyes targets in Middle East, India and China, CEO says, as global wealth management industry primes for consolidation
The industry response to this risk and complexity has been to establish best practice, but this has introduced the paradox that risk can be reduced, efficiency increased, and services improved, but rarely all together.
Building on the partnership with Shaw and Partners, which is a successful domestic player with a well-regarded and recognised brand in the region, offers significant growth opportunities for both parties.