China-driven Asia’s assets managed at private banks top US$2 trillion for the first time in history last year

Assets under management in Asia Pacific show sustained growth trends
By Carmina Angelica Olano
In general, industry assets under management in selected Asia Pacific countries shows sustained growth trends up to 2018. However, the shares of top banks in total assets under management differ widely, wherein top banks in emerging markets have higher market shares compared to top banks in mature markets.
> Banks have recognised their wealth management business as an important source of revenue, as consumers become more financially and technology-savvy
> In 2016, top banks in emerging markets have higher market shares in their industry as compared to top banks in mature markets
> The demand for wealth management products and services will continue to grow
Wealth management activities have increased in Asia Pacific. In selected countries, combined industry assets under management (AUM) have reached about $11 trillion in 2016. This figure has grown at an average 18% annually for the past three years, and will sustain its upward trend to approximately $15 trillion by 2018 (Figure 1). However, despite growth trends in industryAUMs, some banks fall short in expanding their market share and customer base … for more, go to 

China-driven Asia’s assets managed at private banks top US$2 trillion for the first time in history last year

KUALA LUMPUR (April 2018): The ongoing and troubling US-China trade war may be a damper but there was encouraging news for Asia.

The Asian Private Banker has announced that assets under management at private banks in Asia surged 29% last year to top US$2 trillion for the first time.

And it attributed the growth to strong flows from China and buoyant financial markets.

The global market may appeared to have been sluggish last year but the China-driven Asia market has bucked the world economic order.

This was what Bloomberg reported as posted by The Star Online posted:

"Wealth assets at private banks in Asia surge above US$2 trillion

Thursday, 12 Apr 2018
4:59 PM MYT

SINGAPORE: Assets under management at private banks in Asia surged 29% last year to top US$2 trillion for the first time, driven by strong flows from China and buoyant financial markets, according to Asian Private Banker.

“Asia’s private banks benefited from a sustained market rally and robust client activity to deliver strong AUM growth and, in many cases, post record revenues,” said Sebastian Enberg, editor of the Hong Kong-based publication. It was the fastest annual growth in wealth assets in the region since Asian Private Banker started collecting data in 2012.

UBS Group AG topped the ranking of the biggest 20 firms by managed assets, followed by Citigroup Inc. and Credit Suisse Group AG, according to the survey released Thursday. The top six spots were unchanged from a year earlier, according to the data, which exclude mainland China.

Companies are increasing their Asian wealth presence in pursuit of fees from millionaires who are getting richer quicker than those in North America and Europe, thanks to booming economies in the region. DBS Group Holdings Ltd. and Bank of Singapore have built up through takeovers, while firms including Morgan Stanley and Julius Baer Group Ltd. took to hiring instead.

Takeovers helped smaller players expand. LGT Group, based in Liechtenstein, advanced 3 places to 12th after more than doubling its assets to US$63bil. The bank completed its purchase of ABN Amro Group NV’s private banking business in Asia and the Middle East last year.

Report Highlights

• UBS’s headcount rose 2%; its AUM jumped 34% to US$382.7bil

• Morgan Stanley’s staff numbers jumped about a fifth to 298; assets climbed 44% to US$102bil

• Julius Baer and China Merchants Bank Co. saw AUM growth of around 40%, without making acquisitions - Bloomberg

Alibaba Group Chairman Jack Ma.
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APRIL 11, 2018 8:40 AM PDT
Amidst a trade dispute between the US and China, Alibaba co-founder and Chairman Jack Ma said in an online statement Wednesday that a trade war would kill "jobs, opportunity and hope" for small business and farmers in the US. "The US has been a consistent defender of free and open markets, but this time it is resorting to protectionism that will not improve American competitiveness," Ma said. "Any country seeking to increase exports would do better to focus on developing good products and channels to access foreign markets rather than putting up trade barriers." Alibaba is a Chinese e-commerce giant that more than 500 million Chinese customers use as China shifts its economy from the world's largest exporter to the world's largest consumer, Ma said. "It is therefore ironic that the US administration is waging a trade war at a time when the largest potential consumer market in the world is open for business," he said. "Is America going to forfeit this opportunity?"… for more, go to
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