Insight Report: Business Strategies for Targeting HNWIs in Asia-Pacific

Asia-Pacific represents business opportunities for wealth managers and private bankers due to a rise in both the HNWI population and wealth in the region. However, unlike the developed countries of North America and Europe, HNWIs in the Asia-Pacific region differ in terms of culture, consumer preference and financial literacy. The region is attracting wealth managers and private bankers to increase their client base through inorganic expansion of wealth management firms and private banks. The report finds that a rise of philanthropy in lower-income countries such as India, China, Indonesia and Malaysia is one of the trends that will facilitate growth of wealth management in the region. However, wealth managers must overcome challenges in the regulatory environment to accommodate their expansion.

Scope

GlobalData's 'Insight Report: Business Strategies for Targeting HNWIs in Asia-Pacific' report covers the following areas:

• A global snapshot of the Asia-Pacific wealth industry

• Higher-income countries including Australia, Singapore, Hong Kong and Japan

• Lower-income countries including China, India, Malaysia, Indonesia

• Strategies to target mobile entrepreneurs, expatriates and non-domicile individuals

Key Highlights

• HNWI asset allocations in higher-income countries such as Japan, Australia, Hong Kong and Singapore are being driven by a growth in demand for real estate and equity products.

• Wealth managers are looking to capitalize on HNWI interest in venture capital and angel investments.

• A rise of philanthropy in lower-income countries is facilitating the growth of wealth management in emerging countries such as India, China, Indonesia and Malaysia.

• The regulatory environment poses a challenge for wealth managers in Asia-Pacific.

Reasons to buy

• Understand the needs of HNWIs in Asia-Pacific and know how best to serve them.

• Make business decisions and build better business strategies in key areas such as expansion, client and marketing strategies to target HNWIs in Asia-Pacific.

• Be informed of the key market trends of financial products and services offerings in developed and emerging markets, and address each trend accordingly.

• Be aware of the attitudes of wealth managers and private bankers towards the future outlook of business strategies to target HNWIs in the Asia-Pacific.

Companies mentioned

Westpac Private Bank, Mitsubishi UFJ Trust and Banking, Hang Seng

Standard Chartered

Credit Suisse

Ascalon

RV Capital Management

DBS Bank Singapore

Citi Bank

Citi Private Bank

ING Private Banking Asia

ICICI Bank

NAB

Wesfarmers

BHP Billiton and Telstra

Singapore Diamond Exchange Private Ltd (SDX)

HDFC

Axis

HSBC

Barclays

UBS

Lehman Brothers

Prime Value Asset Management Ltd

Tristone Financial Group

AMP Private Wealth Management

Financial Alliances

Henley Group

Meyado

Pacific Asset Management

Prime Partners

Theoria Capital Management

Traditional SingaporeVickers Ballas

BMF Asset Management

The Family Office – Hayes Knight

First Unity

Alta Advisers

Finova

GS Wealth

Hans Rausing

IIFL Asia

Jordans

Makara Capital

Swiss-Asia

NQ International

Oaks Family Office

Tao Trust Group

Morgan Stanley Smith Barney

UBS

Deutsche Bank Private Wealth

ABN Amro

ABSA Asia Ltd

Bank of America (Asia) Ltd

Bank of Taiwan

Banque Pictet

BNP Paribas

Goldman Sachs JP Morgan Private Clients

RBS Coutts

Rothschild

Macquarie Private Bank

ANZ Private Bank

Commonwealth Private

BT Financial Group

Bank of East Asia

Chi Yu Bank

Chong Hing Bank Ltd

Dah Sing Bank Ltd

Mevas Bank Ltd

Westfield, Stockland

GPT

CFS Retail Property Trust

Mirvac

Goodman

SFG Australia Ltd

FMD Group Pty Ltd

Premium Wealth Management Ltd

Flag Capital Management

Bank of Montreal

Hayes Knight Melbourne

Shadforth Financial Group Holdings Ltd

JBWere Pty Ltd

Resi Mortgage Corporation Pty Ltd

The Rohatyn Group

Lachlan Partners

Financial Lifestyle Managers Ptd Ltd

Investwell Financial planning

Pearman Financial Management Pty Ltd

Squadron capital Management Ltd

Lloyd George Management

RV Capital Management

Octis Asset Management Pte Ltd

Clements Dunne & Bell Pty Ltd

SFG Australia Ltd

Lombard Odier

Shartru Wealth Management

Capital Advisors Partners Asia Pte Ltd

Lachlan Partners

Julius Baer

Union Bancaire Privée

UBP SA

Chung Wei Yi Co Ltd

Commonwealth Bank of Australia

Sun Hung Kai Financials

National Bank of Australia

BNP Paribas

Table of Contents

1 Introduction

1.1 What is this Report About?

1.2 Definitions and Scope

2 Executive Summary

3 Snapshot of the Asia-Pacific Wealth Industry

3.1 Overview

3.2 Core Capabilities for Success in the Asia-Pacific Wealth Management Sector

3.3 Market Size of HNWIs and Key Trends

3.3.1 Key findings

3.3.2 Key trends

4 Higher-Income Countries: Australia, Singapore, Hong Kong, Japan

4.1 Financial Products and Services Offerings

4.1.1 Australia

4.1.2 Hong Kong and Singapore

4.1.3 Japan

4.2 Business Strategies to target HNWIs and UHNWIs

4.2.1 Expansion strategy

4.2.2 Client strategy

4.2.3 Marketing strategy

4.3 Attitudes of Wealth Managers and Private Bankers towards Future Outlook of Business Strategies

4.4 Challenges to Growth and Market Regulations

5 Lower-Income Countries: China, India, Malaysia, Indonesia

5.1 Financial Products and Services Offerings

5.1.1 China

5.1.2 India

5.1.3 Indonesia

5.1.4 Malaysia

5.2 Business Strategies to Target HNWIs and UHNWIs in Lower-Income Countries

5.2.1 Expansion strategy

5.2.2 Client strategy

5.2.3 Marketing strategy

5.3 Attitudes of Wealth Managers and Private Bankers towards Future Outlook of Business Strategies

5.4 Challenges to Growth and Market Regulations

6 Strategies to Target Mobile Entrepreneurs, Expatriates and Non-Domicile Individuals

7 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Asia-Pacific – HNWI Environment

Table 3: Market Trends and Outlook for Private Banks in Asia-Pacific

Table 4: Growth of HNWIs in Asia-Pacific by Volume (Thousand), 2009–2018F

Table 5: Growth of HNWI Wealth in Asia-Pacific by Value (US$ Billion), 2009–2018F

Table 6: Private Banks Portals, UK

Table 7: Wealth Management Needs of Female HNWIs

Table 8: Higher-Income Economies of Asia-Pacific: Main Companies in the Wealth Management Sector

Table 9: Private Banks’ Real Estate and Private Equity Product Offering

Table 10: Superannuation Funds Private Banks Australia

Table 11: Higher-Income Economies of the Asia-Pacific Region: Main Deals

Table 12: Higher-Income Countries: Wealth Management DIY Investment Facilities

Table 13: Higher-Income Countries – Retirement Planning Products

Table 14: Higher-Income Countries – Online Portals for Wealth Managers and Private Bankers

Table 15: Commercial Bank Branches (per 100,000 Adults) in Higher-Income Countries, 2009–2012

Table 16: Online Population Using Social Media in Higher-Income Countries in Asia-Pacific, 2012

Table 17: Higher-Income Countries – Social Networking Platforms and Their Usage

Table 18: Online Games From the Banking industry in Asia-Pacific

Table 19: Key Regulatory and Operational Challenges

Table 20: Lower-Income Economies of Asia-Pacific: Main Companies in the Wealth management Sector

Table 21: Private Banks, Real Estate and Private Equity Product Offering

Table 22: Lower-Income Asia-Pacific Economies: Recent Main Deals in the Wealth Management Sector

Table 23: Smartphone and Tablet Applications in Lower-Income Countries

Table 24: Online Population Using Social Networking Across Lower-Income Countries in Asia-Pacific, 2012

Table 25: Social Media Marketing Initiatives by Banks in Emerging Economies

Table 26: Best Practices followed by Wealth Managers in Lower-Income Asia-Pacific Countries

Table 27: Philanthropic Wealth Management Services in Emerging Economies

Table 28: Lower-income Countries in Asia-Pacific – Islamic Banks in Malaysia and Indonesia

Table 29: Expatriate Services for HNWIs in Asia-Pacific

List of Figures

Figure 1: Snapshot of Asian HNWI Wealth and Population, 2013

Figure 2: HNWI Population and Wealth by Wealth Band, 2013

Figure 3: Higher-Income Countries – HNWI Asset Allocation

Figure 4: Lower-Income Countries – HNWI Asset Allocation

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