Commitment from generation to generation

IT'S well known that the number of high net worth individuals (HNWIs) in Asia is growing faster than any other region in the world, with Singapore at the vanguard of the millionaires-per-capita rankings.

Very little of the wealth in Asia could be characterised as "old money" - especially when compared with that of the region's more recent first and second generation entrepreneurs. Certainly though, neither group has had the exposure to private banking - in some cases dating back centuries - common among many wealthy families in Europe.

Most research still suggests that Asia's wealthy are more hands-on in managing their wealth than HNWIs in Europe. The concept of choosing and, more to the point, trusting a private bank is relatively new in Asia where, statistically, clients are still twice as likely as Europeans to "spread the risk" by maintaining relationships with three or more banks.