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Rich Asians turning more to private banks: survey

Published Fri, Jul 15, 2016 · 09:50 PM
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Singapore

MORE rich Asians are asking private banks to manage their wealth amid increasing volatility in financial markets, a new survey shows, in an encouraging sign to firms such as UBS Group and Credit Suisse Group that are expanding their businesses in the region.

About a quarter of high-net-worth investors in Asia were clients of private banks as at May, up from 10 per cent three years ago, according to the study released this week by Singapore-based East & Partners Asia Pte.

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