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• August 18, 2010 - Executive Moves For Asia Pacific - July 2010
  

  Asia Pacific Singapore-based DBS Bank appointed ex-Standard Chartered chief investment strategist Lim Say Boon as chief investment officer for the bank’s wealth management business. UBS nominated Joseph Yam, former chief executive of the Hong Kong Monetary Authority, for election to its board at the bank's AGM in April 2011. Pimco, the fixed income investment management giant, hired Ki Myung Hong as a managing director and head of the Asia Pacific region, based in Hong Kong.

• May 6, 2010 - Scramble For India's Wealth Market Sees Poaching Battle Between Local Firms
  

  Private banking might be at an early stage in India, but it is already fiercely competitive. A raft of big international names, plus some long-time local players, continues to invest in the potential of the Indian market, as a number of local moves attest. More recently, the poaching war has not been between they usual foreign suspects, but between home-grown players who are luring talent from international rivals.

• May 6, 2010 - Executive Moves In Asia-Pacific - April 2010
  

  Citi has hired a Goldman Sachs private banker, Rudolf Hitsch, to head up its China private banking business. Shayne Nelson is to succeed Peter Flavel as global head of The Standard Chartered Private Bank, following the latter’s appointment to a new position within the group. Flavel is to take up the role of global head, personal banking in July, after which Nelson, currently regional chief executive, Middle East & North Africa and CEO for Standard Chartered UAE, will take over at the helm of the private bank.

• May 4, 2010 - Australia's Battle Of Investment Platforms - Competition Authority Weighs In
  

  At the end of the day, the Australian competition regulator’s decision to veto NAB’s A$14 billion (around $12. 9 billion) takeover of AXA Asia Pacific was not about customers or revenue or market capitalisation. It came down to the battle of the investment platforms.

• April 20, 2010 - Australia Braces For Record Amount Of Housing Asset Switch Across Generations
  

  An unprecedented A$407 billion (around $374 billion) in housing assets will change hands between in Australia over the next 15 years as younger generations inherit property from their parents. According to a research study by Bankwest, the projected inherited housing wealth over the next 15 years amounts to around 12 per cent of the value of total Australian households housing assets of A$3. 5 trillion.

• April 8, 2010 - Executive Moves - March 2010 Asia-Pacific
  

  Asia Pacific RBS Coutts, the international private banking arm of the Royal Bank of Scotland, relocated London-based global co-chief investment officer Nick Cringle to Hong Kong. Bank Julius Baer named David Lim as head of private banking South East Asia as of 1 February 2010. Lim was the deputy chief executive officer Singapore and head of investment finance.

• March 28, 2010 - Big Changes Loom In Australia's Wealth Management Landscape
  

  The Australian wealth management landscape could be set for major changes this week with NAB reportedly close to announcing final terms on its A$13 billion bid for AXA Asia Pacific. A long seduction by NAB executives, including visits to Paris by the bank’s senior executives, seems to have worked its charms on AXA, which has also been pondering a slightly inferior offer from AMP, Australia’s biggest insurer. At this point, it seems that only the intervention of competition regulator the Australian Competition and Consumer Commission (ACCC) can stop NAB’s bid to becoming the largest player in the country’s mid-tier wealth management market.

• March 2, 2010 - Executive Moves - February 2010
  

  CJC Global, the Australian international wealth management firm, added Nick Kalikajaros to its executive board to oversee operations in the Middle East and emerging markets, as well the Asia Pacific, Australia, Europe and North America. He has 21 years of experience in wealth management and private banking, having held senior positions with the likes of Credit Suisse, Merrill Lynch, St George Bank, and UBS. ANZ Banking Group officially appointed acting chief economist Warren Hogan to the role permanently after he took over from Saul Eslake in August last year.

• February 23, 2010 - Worries That Australian Wealth Market Lacks Competition
  

  Competition, or rather the lack of it, is becoming a major factor in Australia’s wealth management industry as several players fight against the trend for consolidation. AMP’s bid for the Australian assets of French bancassurance giant AXA is all about shoring up the company’s wealth franchise against the encroachment of the Big Four banks, one of which – the NAB – is the rival bidder in the A$13 billion ($11. 7 billion) battle.

• February 14, 2010 - Australia Tightens Screws On Trusts
  

  The Australian government continues to crack down on tax structures traditionally used by wealthy families with the release of draft legislation to extend withholding tax arrangements to family trusts. Assistant treasurer Nick Sherry released the draft legislation for public comment this week. The recommendations would enable the Australian Taxation Office (ATO) to detect the non-disclosure of income earned by the trusts, and then attribute it to individuals and assess it along with their other income.




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