Wealth Management Competitor Tracker, May 2009

Published by: Datamonitor

Published: Jul. 9, 2009 - 16 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 May

There were a few notable developments within the wealth management industry during May

BNP Paribas acquiring Fortis Bank

Insinger de Beaufort merging with BNP Paribas Wealth Management

HSBC acquiring Bank Ekonomi

Dresdner Bank merging into Commerzbank

In May, activity in the wealth management market continued to grow

There were a total of 30 competitor developments in May

Staffing continued to account for the majority of developments in the month

Wealth managers were most active in European markets

Product innovation and customer targeting

BNP Paribas

BNP Paribas launches BNP Paribas Personal Investors' services for affluent investors in Asia and Europe

Commerzbank

Commerzbank announces strategic and operational structure for the bank's future

DBS Bank

The Islamic Bank of Asia targets Islamic investors with Sharia-compliant products

NAB

NAB private bank creates new wealth division to target high net worth and ultra high net worth clients

UBS

UBS launches internal crossing platform in Hong Kong to enhance client liquidity

Wells Fargo

Wachovia Securities changes name to Wells Fargo Advisors

M&A, Partnerships and Organic Growth

BBVA

Private banking and financing agreements signed between BBVA and CITIC

Bessemer Trust

Bessemer Trust opens a new office to serve wealthy families

BNP Paribas

BNP Paribas acquires Fortis Bank

Insinger de Beaufort merges with BNP Paribas Wealth Management

Commerzbank

Dresdner Bank merges into Commerzbank

Credit Suisse

Credit Suisse launches Private Banking operation in Japan

Credit Suisse and Woori Financial Group terminate their Korean alliance

HSBC

HSBC acquires an 88.89% stake in Bank Ekonomi

Julius Baer

Julius Baer announces the acquisition of Alpha SIM

Julius Baer divides its Private Banking and Asset Management businesses into two independent listed companies

Vontobel

Bank Vontobel Europe commences operations in Germany

Staffing

Barclays

Barclays Wealth appoints head of investment advisory

Bessemer Trust

Tiffany Barbara appointed as senior client account manager and principal

Bessemer restructures management responsibilities to accommodate client requirements

BNP Paribas

Herman Daems to be proposed as chairman of the new board of Fortis Bank

Commerzbank

Personnel restructuring on the board of management of Commerzbank

Deutsche Bank

Deutsche Bank appoints Robert Rankin as CEO of Asia Pacific

HSBC Bank

Dorothy Sit appointed head of Hang Seng China

Morgan Stanley

Gary Lynch appointed vice chairman of Morgan Stanley

Northern Trust

Northern Trust restructures leadership positions in US southwest region

RBS

RBS Group announces senior management changes

SEB

Jan Sinclair joins SEB as country manager of Germany

Standard Chartered

Standard Chartered Private Bank plans to hire 100 relationship managers

UBS

UBS names Andreas Höfert new chief economist in Switzerland

UniCredit Group

UniCredit makes changes in top management

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: Activity in the wealth management industry continued to increased in May

Figure 2: Staffing changes continued to be the most dominate category for wealth activity in May

Figure 3: European markets saw the majority of wealth management activity for the month

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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