Wealth Management Competitor Tracker: May 2011

Introduction

The Wealth Management Competitor Tracker follows the developments of 100 wealth managers and their associated brands globally. Produced monthly, it covers product innovation, customer targeting, M&A, partnerships, organic growth, and staffing. Competitors tracked include Barclays Wealth, Brewin Dolphin and Société Générale.

Features and benefits

* Gain invaluable information on competitors in one concise document; identify long-term trends using the Excel database.
* Sharpen your strategy by implementing the best market, product, competitor and strategic developments of leading global players.
* Learn the Datamonitor Wealth & Investments Team's view on the most important competitor developments in the month.

Highlights

Wealth management activity picked up signficantly in May with a total of 38 developments. This was the busiest month over the last year, exceeding the 12 month average of 26 developments and beating the previous high of 36 developments in November 2010.
M&A, partnerships and organic growth accounted for the largest proportion of developments in May, with 15 developments out of the total of 38. Key stories of the month include Brewin Dolphin's acquisition of Tilman Asset Management in Ireland and BNY Mellon's acquisition of Talon Asset Management in the US.
Over a third of the developments took place in Europe, where Clariden Leu and Julius Baer announced new structures in parts of their business. There was also a lot of activity in Asia Pacific, with key stories including Barclays Wealth entry into offshore renmimbi products in Hong Kong and UOB redefining it's wealth business.

Your key questions answered

* Where is the competition expanding their presence and opening new branches?
* Which competitors have experienced the most staffing changes over the last month?
* What new products and customer targeting strategies are my competitors using?
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OVERVIEW
Catalyst
Summary
Methodology
INTRODUCTION
The Wealth Management Competitor Tracker provides both one-month and 12-month views of developments
As of January 2011, Datamonitor now tracks the most relevant announcements from 100 competitors
Datamonitor’s Wealth and Investments Team provides analysis of the key developments at one-month and 12-month intervals
A fully searchable database covering the past 12 months of developments is also delivered alongside the report
KEY DEVELOPMENTS IN MAY
Notable developments within the wealth management industry in May
Product Innovation and Customer Targeting: Barclays Wealth to provide renminbi investment products in Hong Kong
M&A, Partnerships, and Organic Growth: Brewin Dolphin to buy Tilman Asset Management
Staffing: Société Générale Private Banking appoints regional chief investment officer for the Middle East
Wealth management activity in May reached new heights
There were a total of 38 developments in May
Developments in M&A, partnerships, and organic growth accounted for the majority of activity in May
37% of competitor developments took place in Europe
PRODUCT INNOVATION AND CUSTOMER TARGETING
Arab Bank
Jordan: Arab Bank launches Titanium credit card for affluent customers, May 2011
Barclays
Hong Kong: Barclays Wealth to provide renminbi investment products, May 2011
Citibank
Egypt: Citibank launches Titanium MasterCard for affluent customers, May 2011
Hungary: Citi provides free life insurance to its Citigold customers, May 2011
Crédit Agricole
France: Banque de Gestion Privée Indosuez launches a wealth management iPhone application, May 2011
Credit Suisse
US: Credit Suisse to provide strategic asset allocation to private banking clients, May 2011
Standard Chartered
Singapore: Standard Chartered Private Bank creates key client solutions unit, May 2011
United Overseas Bank
Singapore: United Overseas Bank redefines its wealth management business, May 2011
US Bank
US: US Bank announces new brand name for ultra high net worth business unit: Ascent Private Capital Management, April 2011
M&A, PARTNERSHIPS, AND ORGANIC GROWTH
Agricultural Bank of China
China: Agricultural Bank of China launches overseas financial services for wealthy customers, May 2011
Bank of Montreal
Hong Kong: BMO Financial Group completes acquisition of Lloyd George Management, April 2011
Bank of New York Mellon
US: BNY Mellon acquires Talon Asset Management’s wealth management operations, April 2011
Brewin Dolphin
Ireland: Brewin Dolphin to buy Tilman Asset Management, May 2011
Citibank
Bahrain: Citibank to provide wealth management services to its clients, May 2011
Credit Suisse
Switzerland: Clariden Leu to have a new structure, May 2011
HSBC
US: HSBC opens an integrated banking center in New York, May 2011
Julius Baer
Brazil: Julius Baer acquires stake in GPS, May 2011
Italy: Julius Baer pulls out of preliminary discussions regarding the acquisition of Banca Esperia, May 2011
Switzerland: Julius Baer restructures its Swiss private client business, May 2011
KBC
Russia: KBC increases its shareholding in Absolut Bank to 99%, April 2011
Maybank
Malaysia: Maybank in talks with RHB Capital Berhad over a likely merger, May 2011
Malaysia: Maybank completes acquisition of 44.6% stake in Kim Eng Holdings, May 2011
Standard Chartered
Singapore: Standard Chartered Consumer Banking establishes new High Value Client Coverage organization, April 2011
Westpac
China: Westpac receives approval from CBRC to open a branch in Beijing, May 2011
STAFFING
Bank of America
US: Bank of America announces a new CTO for global wealth and investment management, May 2011
Barclays
Hong Kong: Barclays Wealth appoints new managing director, May 2011
UK: Barclays Wealth appoints new managing director for its ultra high net worth team, May 2011
US: Barclays Wealth hires five investment representatives, May 2011
BNP Paribas
France: BNP Paribas will appoint a new chairman and CEO in December, May 2011
BNY Mellon
US, UK: BNY Mellon creates a new position of president for investment management, May 2011
Credit Suisse
Australia: Credit Suisse to have a new head for Australian private banking, May 2011
HSBC
France: HSBC Private Bank France appoints a new CEO, May 2011
US: HSBC Private Bank appoints new vice president, May 2011
KBC
UK: Brown Shipley appoints new private banking director, May 2011
Lloyds Banking Group
Latin America and EMEA: Lloyds TSB Private Banking appoints senior analyst, May 2011
Lombard Odier Darier Hentsch
Switzerland: Lombard Odier appoints managing partner, May 2011
Sarasin
Italy: Gianluca Grissini appointed as the new head of private banking, May 2011
Société Générale
Middle East: Société Générale Private Banking appoints regional chief investment officer, May 2011
APPENDIX
Methodology
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer
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