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

Pages: 72 Published: December 09, 2014 Report Code: WI0016FR

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.

Key Players

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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