TABLE OF CONTENTS
WEALTH MANAGEMENT COMPETITOR TRACKING 8
ABN Amro 8
ABN AMRO Private Banking pulls out of Monaco in order to focus on emerging markets 8
Bank of America 8
Bank of America acquires U.S. Trust from Charles Schwab (M&A) 8
Bank of America expands regional focus in the US to serve high net worth clients (Distribution) 9
Bank of America launches new account for high net worth clients (Product Innovation) 9
Barclays 10
Barclays Wealth to create 500 jobs in Scotland in the next 3 years (Staffing) 10
BNP Paribas 11
Asian markets drive wealth management growth for BNP Paribas 11
Credit Suisse 11
Credit Suisse private banking reports financial results for Q3 2006 11
Deutsche Bank 11
Deutsche Bank reports modest results for the third quarter 2006 11
Deutsche Bank Private Wealth Management sets sight on China (Emerging Markets) 12
Deutsche Bank enters alliance with offshore advisory firm deVere (Partnerships) 13
Investec 13
Investec reports private banking profit boom for first half 2006 13
Investec Private Bank targets British expatriates living in Spain (Client Targeting) 14
Julius Bär 14
Julius Bär officially launches offices in Singapore and Hong Kong (Emerging Markets) 14
JP Morgan 15
JP Morgan is expanding private banking in the USA (Staffing) 15
KBC 16
KBC’s third quarter 2006 results boosted by sale of Banco Urquijo 16
Lehman Brothers 16
Lehman Brothers’ Neuberger Berman acquires H.A. Schupf & Co. (M&A) 16
Mellon 17
Mellon expands Private Wealth Management activities in Florida 17
Morgan Stanley 18
Morgan Stanley taps Lehman Brothers to focus on Latin America (Staffing) 18
Morgan Stanley Global Wealth Management launches new client website (Product Innovation) 18
Royal Bank of Canada 19
Royal Bank of Canada unveils plans to expand UK presence (Staffing) 19
Royal Bank of Scotland 19
RBS announces joint venture with BOC (Emerging Markets) 19
Santander 20
Santander set to increase private banking presence in the USA 20
Santander acquires Italian private bank KBL Fumagalli Soldan (M&A) 20
Société Générale 21
Private banking boosts Société Générale’s third quarter results 21
UBS 21
UBS reports solid results in European onshore wealth business 21
UBS teams up with IFAs in order to enhance footprint in the UK (Distribution) 22
Other competitors 22
Arbuthnot completes first phase of major restructuring program 22
DBS upbeat on wealth management (Emerging Markets) 23
Bordier set to take controlling interest in Berry Asset Management (M&A) 23
New Portuguese private bank set to enter the market in late 2007 (Emerging Markets) 24
CIMB launches Malaysian fund of funds (Product Innovation) 24
Mirabaud rebrands Basel-based subsidiary Banque Jenni & Cie 25
Matthew Hunt launches new wealth management firm in the UK 26
Prudential targets ‘untapped’ UAE wealth management market (Emerging Markets) 26
Profits soared at Schroders Private Bank in third quarter 2006 26
Struggling Swissfirst continues selloff of private banking business 27
Swiss Union Bancaire Privée receives license to operate in Qatar (Emerging Markets) 27
Market Issues 29
Banks “agree” not to poach from Singaporean rivals (Staffing) 29
University launches wealth management course for the wealthy 29
APPENDIX 30
Further Reading 30
Global Wealth Management SPP 30
Datamonitor Asia Pacific Wealth Management SPP 31
SPP writing team 32
