Asia’s new rich
Shayne Nelson, global head of high value client coverage and CEO of Standard Chartered Private Bank, feels that the question foremost on the minds of all private bankers should be what a typical Asian client looks like. February 13, 2012 | Shayne NelsonBelieving that what has worked for wealthy clients in Europe or the US in the past will work in Asia, too, would be a big mistake. The new generation of Asian clients stand out very clearly from those in other regions of the world, and their expectations and outlook are different. Much of this comes down to demographics. Asia’s high net-worth individuals (HNWIs) – people with $1 million or more in investable assets – are younger than their western counterparts. 41% of Asia-Pacific’s HNWIs are 45 or under versus a global average of 17%. This means they are still creating and growing their wealth, as opposed to western HNWIs who tend to focus more on wealth preservation. Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Retail Banking, Wealth Managementretail,Wealth Management, Retail Banking,Wealth Management, Keywords:HNWI, Wealth Creation, Tangible Assets, Differentiated Business Model, Private Banking Model, Shayne Nelson, Standard Chartered Private Bank HNWI, Wealth Creation, Tangible Assets, Differentiated Business Model, Private Banking Model, Shayne Nelson, Standard Chartered Private Bank
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