Wealth Management Competitor Tracker, March 2008

Published by: Datamonitor

Published: May. 7, 2008 - 359 Pages

Table of Contents

Overview

Catalyst

Summary

Table of Contents

The Roundup

M&A, partnerships, organic growth and staffing

M&A activity supported expansionary aims, mainly in the US and Asia-Pacific markets

Wealth appointments continued to be concentrated in the US market, with limited activity noted in European and emerging markets

Product innovation and customer targeting

Product innovation was driven by capital protected investments and indices

Wealth managers in Europe and the US focused on specific wealthy customer segments

M&A, Partnerships, organic growth and staffing: The developments

ANZ

Australia: ANZ opens private banking branch in Canberra (Organic Growth) - March 2008

Banca del Gottardo

Switzerland: Banca del Gottardo acquired by BSI (M&A) - March 2008

Bank of America

US: Bank of America announes leadership changes in premier banking annd investments (Staffing) - March 2008

Barclays

Russia: Barclays to acquire Russian bank Expobank (M&A) - March 2008

Bessemer Trust (whole business)

US: Bessemer Trust appoints head of Latin American and international business development (Staffing) - March 2008

Citigroup

China: Citibank China opens new Beijing headquarters (Organic Growth) - March 2008

DBS

India: DBS expands operations in India (Organic Growth) - March 2008

Vietnam: DBS receives approval for Vietnam office (Organic Growth) - March 2008

Deutsche Bank

China: Deutsche Bank increases equity stake in Hua Xia Bank (M&A) - March 2008

US: Deutsche Bank names managing director and client advisor in Boston (Staffing) - March 2008

HSBC

China: HSBC China launches private banking business (Organic Growth) - March 2008

Taiwan: HSBC completes acquisition of the Chinese Bank in Taiwan (M&A) - March 2008

Vietnam: HSBC one of the first to incorporate in Vietnam (Organci Growth) - March 2008

UK: HSBC Private Bank appoints new chief executive (Staffing) - March 2008

JPMorgan Chase

US: JPMorgan Chase purchases Bear Stearns (M&A) - March 2008

Mellon Financial Corp.

US: The Bank of New York Mellon to sell Mellon Business Bank and focus more on wealth management (Divestment) - March 2008

US: The Bank of New York Mellon to add wealth management positions in Pittsburgh (Staffing) - March 2008

Northern Trust

US: Northern trust appoints president of global investments (Staffing) - March 2008

PNC

US: PNC completes conversion of Yardville National Bank (M&A) - March 2008

US: PNC completes the sale of Hillards Lyons (Divestment) - March 2008

RBC Financial Group

US: RBC Dain Rauscher to become RBC Wealth Management (Re-branding) - March 2008

SEB

India: SEB opens representative office in New Delhi, India (Organic Growth) - March 2008

Standard Chartered

Vietnam: Standard Chartered receives approval to incorporate in Vietnam (Organic Growth) - March 2008

UBS

US: UBS opens private wealth management office in Houston, Texas (Organic Growth) - March 2008

Switzerland: UBS makes staff proposal to Board of Directors (Staffing) - March 2008

Product innovation and customer targeting: the developments

Citigroup

India: Citibank launches Citigold Select for high net worth clients (Customer targeting) - March 2008

Deutsche Bank

Hong Kong: Deutsche Bank targets entrepreneurs and business leaders through the hire of six senior Hong Kong private bankers (Customer targeting) - March 2008

RBC Financial Group

Canada: Royal Bank of Canada launches Canada's first Visa Infinite card (Product innovation) - March 2008

Sarasin

Switzerland : Sarasin introduces Sustainable Water Fund (Product innovation) - March 2008

Société Générale

France : Société Générale launches SGI-orbeo Carbon Credit Index (Product innovation) - March 2008

St George

Australia: St George increases deposit rates for Pensioner account (Customer targeting) - March 2008

UBS

Switzerland: UBS launches CMCI Food Index (Product innovation) - March 2008

Vontobel

Switzerland: Vontobel launches Exchange Traded Structured Funds with conditional or full capital protection (Product innovation) - March 2008

Other companies:

Legal & General

UK: Legal & General launches international index trust (Product innovation) - March 2008

APPENDIX

Methodology

Index of strategies by company

ANZ

Banca del Gottardo

Bank of America

Bank of New York Mellon

Barclays

Bessemer Trust

BNP Paribas

Citigroup

Commerzbank

Credit Suisse

DBS

Deutsche Bank

HSBC

JP Morgan Chase

Julius Baer

KBC

Merrill Lynch

Morgan Stanley

Northern Trust

PNC

RBC Financial Group

Sarasin

Schroders

SEB

Société Générale

St George

Standard Chartered

UBS

Unicredit

Vontobel

Wachovia

Westpac

Index of strategies by geography

Western Europe

France

Germany

Spain

UK

Russia

North America

US

Africa

Middle East

Asia

Australia

India

China

Index of strategies by trend

M&A

Partnerships

Organic Growth

Staffing

Product innovation

Property investment

Ethical investments

Exchange traded funds

Customer targeting

Entrepreneurs

Mass Affluent

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

Abstract

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