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S'pore falls to 6th spot as wealth-management hub

Hong Kong takes over Republic's previous 5th ranking globally after a big 2008-2014 jump in cross-border client assets

Genevieve Cua

Published Tue, Feb 10, 2015 · 5:50 am
Switzerland keeps its spot as the world's top wealth management centre, with US$2 trillion under management as at the end of last year, a rise of 14 per cent since 2008.

Deloitte

Singapore

SINGAPORE'S global ranking as a wealth-management centre dropped a notch from fifth to sixth place at the end of last year, a report by Deloitte Switzerland has found.

It was overtaken by Hong Kong, which took the fifth spot as Hong Kong recorded a 146 per cent jump in cross-border client assets between 2008 and 2014, more than any other centre.

Singapore's international market volume, which refers to client assets booked on a cross-border basis, was estimated at about US$500 billion. While...

KEYWORDS IN THIS ARTICLE

Wealth management

Hong Kong

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