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OUTLOOK 2019

High net worth, mass affluent offer private banks best potential

Despite volatile 2018, UBS, Bank of Singapore, Credit Suisse, HSBC and others enjoyed robust net inflows

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"Tougher market conditions sparked stronger interest in DPM as clients seek more than just products - they also want expert advice, investment solutions and consistency in portfolio management." - DBS head of wealth management and consumer banking Tan Su Shan, on the bank's discretionary portfolio management (DPM) services.

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"Attraction of talent hasn't been an issue, with many of our external hires bringing an average 15 to 20 years of experience, along with a steady pipeline of talent from our corporate and retail banking partners.'' - HSBC's head of private banking, South-east Asia, Philip Kunz.

Singapore

PRIVATE banks enjoyed robust net inflows in 2018, but risk appetite has turned cautious in the wake of the market downdraft and worries over the fallout from US-China trade tensions.

There is a silver lining to the market volatility, however. Bankers report healthy

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