Aug
19
Credit Suisse Sees Asia Wealth Race Shifting From Offshore Hubs
By-
Seeking at least $10 billion of assets in each Asia market
- Credit Suisse APAC wealth head de Ferrari speaks in interview
After years of racing to accumulate assets in the key offshore centers of Singapore and Hong Kong, the challenge for wealth managers in Asia is shifting to cities such as Manila, Jakarta and Shanghai.
Private banks that want to tap into Asia’s growing onshore wealth need to think less about regional asset totals and more about accumulating a critical mass of wealth in the individual Asian countries, according to Francesco de Ferrari, head of Asia-Pacific private banking at Credit Suisse Group AG. For the Zurich-based bank, the target is at least $10 billion in each of its 11 key markets across Asia, de Ferrari said in an interview earlier this month…
Credit Suisse Sees Asia Wealth Race Shifting From Offshore Hubs
