With high-net-worth individuals (HNWIs) and ultra-high-net worth individuals (UHNWIs) across Asian developed nations already under the umbrella of multiple banks, global and regional financial institutions are shifting resources towards banking the emerging wealthy class across Southeast Asia, the next multi-trillion dollar goldmine.
Southeast Asia presents unique opportunities for private banks and other wealth focused financial institutions. First of all, Southeast Asia has an emerging demographic trend indicating growth potential, in addition to a rising class of family businesses that dominate local industries that are in need of higher level wealth management services, especially in Thailand, Indonesia, Malaysia, the Philippines and Vietnam.
As growth opportunities globally become narrower, Southeast Asia with its mix of mature, emerging and frontier markets could be of interest to global private banks and wealth managers. It will be imperative for wealth managers to augment their business models through innovation to take into account the shifts expected in this region, to achieve sustainable growth and to position for market leadership.
The 2018 Wealth Management in Southeast Asia Report: Competitive Landscape & Strategic Opportunities
Our analysts across London, New York, Singapore and Hong Kong survey the globe's top bankers to acquire detailed insights for our reports.