The past year’s expansion in Asia’s wealth management industry bears little resemblance to the boom of 2007, when firms were hiring indiscriminately and clients were less cautious, said the head of Credit Suisse Group AG’s private-banking unit in the region. (more…)

Standard Chartered is on course for another record first-half performance as the bank continues to reap the benefits of its exposure to the growing economies of Asia. (more…)

The Royal Bank of Scotland will use its banking licence to provide banking services to the well-heeled under its private banking division after it divests its retail and commercial business. (more…)

The world’s population of high net worth individuals (HNWIs) grew 17.1% to 10.0 million in 2009, returning to levels last seen in 2007 despite the contraction in world gross domestic product (GDP). (more…)

The number of Indians with investible resources in excess of a million dollars rose 51% on the back of a smart recovery in asset prices in 2009, according to the 2010 World Wealth Report released on Wednesday by Capgemini and Merrill Lynch Global Wealth Management Ltd. (more…)

Is market and market-related data a crucial driver of success in the wealth management industry? Well, it could be in a couple of ways. Obviously, if a wealth management firm (wealth management news) could craft a truly unique and high value-added data feed for customers, it would prove a marketable benefit, though I think that route is unlikely. (more…)

State Bank of India, the country’s largest lender, plans to offer wealth management services to its affluent clients, chairman Om Prakash Bhatt said at the bank’s annual meeting of shareholders. (more…)

Morgan Stanley plans to hire 10-20 advisors at its Indian private bank arm over the next 12 months, an increase of up to 50 %, as wealth managers scramble to expand in Asia’s third biggest economy. (more…)

Forbes India recently unveiled its India Rich List in Bangalore with a panel discussion on the topic ‘Purpose of Wealth’. The panel comprised an interesting mix with spiritual guru Sri Sri Ravi Shankar and GV Krishna Reddy, Chairman of GVK Industries, sharing the dais and Subroto Bagchi, Co-founder of Mindtree Consulting as the moderator. (more…)

India’s billionaires have seen their wealth swell more than their US counterparts in 2009 according to Forbes India rich list, in a further sign that the subcontinent is recovering faster than western economies. (more…)