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Private Wealth & Financial Services Market Update Singapore 2020

  • Publish Date: Posted over 3 years ago

The Wealth Management industry has evolved over the years but 2020 has accelerated its transformation. We see a consolidation of the market between the universal banks and the pure-play boutiques to increase efficiency, value-add to clients and reduce costs. With banks merging or realigning certain segments within the bank, this enables clients and relationship managers to find more synergies between the units.

Amidst the Q1 market sell-off, most Private Banks have announced strong performance for H1 2020 with increased transaction-based revenue and net interest income.

Given the travel restrictions, the SEA markets with a focus on Singapore coverage bankers are in the spotlight this year. Banks are dedicating more resources and encouraging bankers to reach out to onshore clients or asset managers...

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