News > Wealth Management

Uber turns to Morgan Stanley for money
Morgan Stanley's high-net-worth clients are the latest backers of Uber. The investors could pledge a $250,000 minimum per client, or $48.72 a share, to the ride share service, reports CNBC. The latest funding will be part of Uber's current fundraising round that values the company at $62.5 billion, as reported by the New York Times in December. This round, which
People Moves: BNP Paribas appoints new advisory boss; Pictet Asia senior moves to VP Bank
BNP Paribas names new advisory chief. Sharon Loh has been named head of advisory, Southeast Asia by BNP Paribas Wealth Management. Loh joins French firm from UBS Wealth Management, where she held a similar role. She will be based in Singapore. WealthBriefingAsia Former Pictet senior moves to VP Bank. Sylvain Gysler, Pictet Asia’s former Singapore and Hong Kong independent asset
Why advisors avoid succession planning
Anyone who has attended an advisor conference in the last few years has noticed the increasingly graying hair on attendees’ heads. With so many of our cohort nearing retirement, it is striking how few have taken the appropriate steps to ensure that their practice survives and thrives as they wind down their personal roles in their firms. For David Maurice,
Wealth managers must listen to succeed
Wealth management is undergoing a fundamental change in Asia Pacific, and advisors are being forced to adapt. A generational shift in expectations, clients’ insistence on transparency and greater autonomy, and rapid improvements in digital technology mean private bankers need to shut up and listen. “The old model was an “inside-out” process, where advisors delivered wealth management services to often passive
Julius Baer snaps up stake in China’s Jupai
Julius Baer has already blazed a pretty impressive trail in the Asia-Pacific, but from the looks of things, the Swiss private banking firm isn’t even done yet. According to an announcement, the private bank reportedly purchased 9,591,000 ordinary shares from Jupai Holdings at $1.83 per share, effectively taking a 4.99% stake in the Shanghai-based wealth manager for just $5.3 million. Julius
The next generation in philanthropy: from the Rockefeller Foundation to the Zuckerberg Chan initiative
When $45 billion dollars is pledged to charity, it’s bound to start a lot of conversations. Facebook founder Mark Zuckerberg and his wife Dr. Priscilla Chan recently shared they intend to move 99% of their Facebook shares into a Limited Liability Company (LLC) for charitable purposes. Justifiably, this announcement has received lot of attention and has started a conversation about
Key role of family offices to help US billionaires dodge taxes
Multinational companies are routinely pilloried for juggling their revenues, lobbying politicians or even shifting their headquarters to cut their tax bills. But in the U.S., corporate maneuvering to dodge payments looks amateurish compared with the lengths parvenu financiers go to protect their vast personal fortunes. It's great news for the wealth management industry as well as lawyers and accountants skilled in identifying
Tough choices for billionaires
There are 1,825 billionaires in the world, according to calculations by Forbes magazine, and their aggregate wealth is $7 trillion. Many of them have made their riches in Silicon Valley or as entrepreneurs in China, others by getting lucky in the traditional way, making money from money in the finance industry. Yet, they are all troubled by a similar problem: how best
Wanted: staff for growing wealth management industry
Thinking of a job in banking and need to know where the opportunities lie? Or maybe it's time for a mid-career shift from the increasingly insecure world of sales and trading. Wealth management could be a good choice: Talent scarcity is pronounced in the wealth management industry, Mignonne Cheng, CEO of BNP Paribas Wealth Management, Asia Pacific tells Asian Private Banker. (paywall)
People Moves: StanChart names global WM boss; Credit Suisse makes two senior appointments
StanChart names Didier von Daeniken global head of PB and WM. Von Daeniken joins Standard Chartered from Barclays, where he ran the British firm’s Asia-Pacific and EMEA private banking division since 2007. In his new role, von Daeniken will handle both private banking and wealth management, divisions previously been ran by separate people. Deal Street Asia Credit Suisse makes two