A group of local and international experts will preside over the Hubbis Digital Dialogue of October 29, to consider some of the critical changes taking place in the global and regional Asian wealth management industry, discussing in particular how the Philippines’ competitive landscape is changing, and how local firms can adapt to secure their future success, and how they will both compete with and/or partner with the international banks and even offshore IAMs/EAMs.

The opportunities are certainly there to grasp – the Philippines has both a huge and a very young and fast-expanding population, the third youngest in Asia. GDP growth is robust, and the country is increasingly international.

However, a key challenge for local private banks in the past has been the lack of products, which drove clients offshore, especially to nearby Hong Kong. Local private banks and the international competitors moving onshore are intent on offering an open platform and as many new products as the regulators might permit. Yet the reality is that regulation continues to lag the market’s needs, and the regulators continue to be rather cautious in opening the market to a wider array of products.

This shortage of onshore investment products and solutions, as well as the shortage of onshore vehicles through which to access offshore assets are core reasons for more international banks moving onshore, either flying their own flags, or partnering with major local banks and institutions, rather than sticking to their old models of flying bankers in and out. The IAMs playing their trade out of Singapore and Hong Kong also see considerable opportunity in the Philippines and have been expanding their presence in tune with the market’s potential.

Talent is another issue that must be addressed, however, before the wealth market can really advance. There is a shortage of wealth management expertise in every market in Asia, and this is especially true in the Philippines. How are the main competitors handling this shortage of talent, and is enough being done by them and by the regulator to encourage the industry’s development?

Aside from investments, the life and health insurance markets are evolving there, and insurance companies diversifying their distribution models, enhancing the diversity of sales through their agents, through bank distributors, and increasingly via online Fintech companies. 

Family planning might be an awkward concept in the devoutly Catholic Philippines, but family wealth planning is both needed and is a key service some private banks are pushing, especially as wealth is growing so fast and the older generations of 70 and above still hold so much of the country’s private wealth.

And finally in the midst of the pandemic and in the hope of a more normalised world ahead, how will the competitive environment unfold and will the wealth management community match and possibly exceed the needs and expectations of the rising tide of private wealth in the country?

Our panel of experts will discuss these and a host of other key matters during what will no doubt prove a stimulating discussion on October 29.

Oct 29

Philippines Wealth Management – Evolution of the Market & Ke...

3.00pm - 4.00pm HKT/SGT

Register
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A community of leading organisations within Asian Wealth Management

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Senior figures in Asian Wealth Management are speaking at this event

Robin Heng

Bank of Singapore

Harold Tan

Mercer

Gerald Bautista

Sun Life Asset Management

Dr. Robert Ramos

RCBC

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Event Agenda
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  • 15.00pm

    Philippines Wealth Management – where does the industry go from here?

    • What are the key developments in the Philippines’ Wealth Management and Asset Management market?
    • What can the wealth industry do to improve the value proposition there?
    • How are the local banks and key players faring in competition with or possibly in partnership with the international banks?
    • What changes are taking place with regard to client expectations and behaviour?
    • Are the investment platforms being built in-house, or is the market gravitating towards the external, digital platforms for product selection, execution and even custody?
    • Is open architecture generally a key priority?
    • Where will the future business and growth come from, and what are the key priorities?
    • Offshore or onshore, or both? Where is the long-term opportunity? And how are the competitors shaping up?
    • How can they get the right people and the right proposition in front of the clients?
    • What are the main investment themes and the products that resonate with clients today?
    • What’s the future of Discretionary and Advisory Portfolio Management in the Philippines?
    • Is enough investment being made in digital technologies and solutions, and in which key areas?

    Moderator

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

    Speakers

    Harold Tan

    Wealth Business Leader, Philippines

    Mercer

    Robin Heng

    Global Market Head Philippines, Australia, Indonesia and Thailand

    Bank of Singapore

    Deanno J. Basas

    President

    ATRAM Trust Corporation

    Dr. Robert Ramos

    Trust Officer and Head of the Trust and Investments Group

    RCBC

    Gerald Bautista

    Head of Agency, Bank & Alternative Distribution Channel

    Sun Life Asset Management

  • 16.00pm

    Webinar Ends

Oct 29

Philippines Wealth Management – Evolution of the Market & Ke...

3.00pm - 4.00pm HKT/SGT

Register
Speakers

Robin Heng

Bank of Singapore

Harold Tan

Mercer

Gerald Bautista

Sun Life Asset Management

Dr. Robert Ramos

RCBC

Deanno J. Basas

ATRAM Trust Corporation

Oct 29

Philippines Wealth Management – Evolution of the Market & Ke...

3.00pm - 4.00pm HKT/SGT

Register
Partners

platinum

Oct 29

Philippines Wealth Management – Evolution of the Market & Ke...

3.00pm - 4.00pm HKT/SGT

Register