The Asian Banker

How risk management could address key challenges for wealth managers in Asia
Frederic Bertholon-Lampiris, director of financial services industry practice at Deloitte Singapore feels that the traditional wealth management business model is at risk and has to be reshuffled.

Access to local and global financial markets, strong economic fundamentals, political stability and quality of life are among the key success factors for Singapore to dethrone Switzerland as the world’s leading wealth management hub. Recent feedback from the industry suggests an average 20% growth per annum of private banks’ assets under management in Singapore, in line with the rising wealth in Asia, compared to an AUM growth per annum forecast in the mid-single digit area for Switzerland between 2012 and 2015. However, despite these positive forecasts, the challenges that a private banking…

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Categories: Basel III, Capital & Strategic Issues, Regulation, Retail Banking, Risk and Regulation, Singapore, Wealth Management
Keywords: AUM, Private Banking, Switzerland, MAS, FATCA, KYC, Dodd Frank, AML, VaR
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