Wealth Management Competitor Tracker, November 2008

Published by: Datamonitor

Published: Feb. 12, 2009 - 27 Pages

Table of Contents

Overview

Catalyst

Summary

Methodology

Table of Contents

Introduction

The Wealth Management Competitor Tracker provides both one month and 12 month views of developments

Each month, Datamonitor tracks the most relevant announcements from 57 competitors

Datamonitor's Wealth Management Team provides analysis of the key developments at both the one month and 12 month level

A fully searchable database of the past 12 months of developments is also delivered alongside the report

Key Trends and Developments in November

There were some notable developments within the wealth management industry during November

Bank of America receives Federal Reserve approval for Merrill Lynch purchase

Banca Monte Dei Paschi board approves guidelines for Banca Toscana merger

Merger between Westpac and St.George approved

International companies are expanding their operations into emerging markets

In November, activity in the wealth management market rebounded slightly

There were a total of 22 competitor developments in November

M&A and staffing activity dominated the wealth market in November

Europe and Asia continued to be the main regional hubs for the wealth market

Product innovation and customer targeting

Citigroup

Citibank Singapore launches innovative global home financing solution for affluent clients

M&A, Partnerships and Organic Growth

Bank of America

Bank of America to exercise remainder of China Construction Bank option

Bank of America receives Federal Reserve approval for Merrill Lynch purchase

Citigroup

DBS

DBS has extended presence in China's private banking market

Deutsche Bank

Deutsche Bank announces planned opening of a new representative office in Switzerland

Monte Paschi di Sienna (MPS)

Banca Monte Dei Paschi board approves guidelines for Banca Toscana merger

OCBC

OCBC Bank establishes a Malaysian Islamic subsidiary, OCBC Al-Amin

Pictet & Cie

Pictet & Cie has announced plans to grow its business in GCC countries

St.George Bank (SGB)

Merger between Westpac and St.George approved

Standard Chartered

Standard Chartered to acquire Lehman Brothers team and fixed assets in Brazil

Unicredit

UniCredit finalises the disposal of 183 branches to 13 banks

Staffing

Credit Suisse

Christophe Racine named new head of private banking for Northern Switzerland

Clariden Leu appoints two new executive board members

Deutsche Bank

Ari Makela joins Deutsche Bank as managing director for Nordic coverage in global banking

Deutsche Bank appoints new head of Private Wealth Management UK

Deutsche Bank appoints Hanspeter Danuser to help establish new office in Switzerland

Mellon Financial Corp.

BNY Mellon Wealth Management hires head of private lending

Northern Trust

Northern Trust appoints President of San Diego Region

RBC Financial Group

RBC Wealth Management announces leadership changes

Standard Chartered

Standard Chartered to acquire Lehman Brothers team in Brazil

UBS

UBS bolsters wealth management team in Asia with a series of key hires

Appendix

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: The 57 companies covered by Datamonitor's Wealth Management Competitor Tracker

List of Figures

Figure 1: November marked an increase in total developments over the previous month

Figure 2: M&A and staffing developments accounted for the majority of activity for the month

Figure 3: Europe and Asia continued to see the majority of wealth management activity

Abstract

• Track the strategies announced by 50+ of your key competitors.
• Assess which geographies and strategic areas are seeing the most activity

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