What a year this has been! As the world waits for the next evolution of the global pandemic, and prays for effective vaccines to allow some semblance of normality to return, Hubbis will on October 8 assemble an outstanding panel of private bank CEOs to offer their insights on the year to date and on the outlook for the foreseeable future.
We will aim to structure this discussion in three elements – The Big Picture Today (Where are we Now?), Building the USP & Expanding Revenues, and Technology & Accessibility.
The Big Picture: The panel of experts will discuss what has happened in 2020 to date, and how the events have changed, or perhaps confirmed and reinforced, the directions their businesses and operations had already been taking. This section will cover the demands of regulation and compliance, the need to develop skills and talent, the drive to become more relevant and responsive, the search for the right business model, the need to boost digitisation and the user experience, and the curation of the optimal products and solutions. Are the private banks on track, and which of these areas has the pandemic driven to greater prominence, or possible side-lined?
Building the USP & Expanding Revenues: The wealth management industry has been shifting its mindset, its products, solutions and talent towards a far more client-centric model than had been the norm. Banks and the independent wealth management community had been broadening their proposition far beyond investments, deep into wealth and estate planning. They had been driving their business models to become truly the trusted advisers to their clients by offering higher value-added advice, insights and solutions, all delivered by RMs who are gradually becoming freed up by digital tools and solutions to become more client-relevant and responsive. They have been aiming to build their own platforms, or to work with specialist digital platforms to enhance their offering and build true open architecture. The banks have been driving towards greater predictability of revenues as they refocus talent and effort on their advisory and DPM propositions. How many of these objectives are being achieved, which will have been derailed by the pandemic and which missions have become ever more important today?
Technology & Accessibility: We all know how central digitisation has been to the development of the wealth model in Asia. The panel will review where digitisation has been succeeding, whether the investments have been wise and timely, and discuss if digital solutions are achieving any of the key goals of reducing costs, boosting efficiency and productivity, enhancing relevance, improving client experience and boosting revenue generation.
A community of leading organisations within Asian Wealth Management
Senior figures in Asian Wealth Management are speaking at this event
Bordier & Cie
Private Banking Heads discuss the visions of the Future of Wealth Management in Asia
- What impact has the pandemic had on the direction and speed of evolution for the wealth industry in Asia?
- Will the private banks or the IAMs/EAMS be the winners in the years ahead in Asia?
- Will there be an acceleration of consolidation in the industry?
- What role will the RM play in the post-pandemic world and how will his/her relevance and productivity be enhanced?
- Are the private banks enslaved and hamstrung by compliance, or is the regulatory proliferation worldwide an opportunity to drive for professionalism in the industry, rather than an impediment?
- Are Asia’s clients evolving in terms of their outlook, their professionalism, and their outlook, and if so how?
- Are the banks managing to boost their advisory and DPM income, thereby reducing the weighting of the ad hoc, product-selling type revenues?
- Are the banks truly embracing open architecture, or are they simply virtue signalling?
- What markets, products, and solutions are in favour, or are likely to be in the foreseeable future?
- In which areas of digital/technology should wealth management providers invest further, and why?
- What is your vision for wealth management in Asia in a (hopefully) Post Covid-19 world?
Chief Executive Officer, North Asia
EFG BankCarolyn Leng
Head, Private Wealth Malaysia, Group Wealth Management, Community Financial Services, Malaysia
Head of Private Banking, Asia
VP BankAlex Ng
Chief Executive Officer, Hong Kong Branch and Head of North Asia
CEO and Managing Partner
Bordier & Cie
Bordier & Cie