Wealth Management Competitor Tracker: December 2010

Introduction

The Wealth Management Competitor Tracker provides expert analysis and opinion on the strategic moves of leading competitors in the wealth management space. Produced on a monthly basis, the Tracker is a global product and covers over 50 players, including Barclays, Credit Suisse, Citigroup, DBS, Julius Baer and Vontobel.

Features and benefits

* Gain invaluable information on your key competitors in one concise document, and track long-term trends using the interactive news 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

Activity in the wealth management industry maintained a steady pace in December, with a total of 25 competitor developments recorded. This represented a decline on numbers for November, but was still in line with the 12 month average of 25, despite an anticipated Christmas-related lull in some parts of the world.
A high level of staffing developments accounted for 14 out of the total of 25 stories, which was well above the 12 month average for this category. Many of these were accounted for by a series of senior management changes following on from end of year board meetings.
Examples of competitor developments from December include the news that Deutsche Bank has found a buyer for BHF Bank in the form of LGT, while on the customer targeting side, Credit Suisse announced the creation of a family office hub out of Singapore.

Your key questions answered

* Which competitors have experienced the most staffing changes over the last year?
* Where is the competition expanding their presence and opening new branches?
* Which geographies have experienced the most competitive activity over the last month and year?
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TABLE OF CONTENTS
Overview 1
Catalyst 1
Summary 1
Methodology 1
introduction 5
The Wealth Management Competitor Tracker provides both one month and 12 month views of developments 5
Each month, Datamonitor tracks the most relevant announcements from 53 competitors 5
Datamonitor’s Wealth and Investments Team provides analysis of the key developments at one month and 12 month levels 5
A fully searchable database covering the past 12 months of developments is also delivered alongside the report 6
Key Developments in December 7
Notable developments within the wealth management industry in December 7
Singapore: Credit Suisse announces plans to open a family office hub in Singapore 7
Germany: Deutsche Bank agrees to sell BHF Bank 7
France: Crédit Agricole announces new head of private banking 7
Wealth activity was down in December compared to November, but was still in line with the 12 month average 8
There were a total of 25 developments in December 8
Staffing developments accounted for the majority of developments 9
32% of competitor developments took place in Western Europe 10
Products, Innovation, and Customer Targeting 12
Credit Suisse 12
Singapore: Credit Suisse announces plans to open a family office hub in Singapore 12
Deutsche Bank 12
UK: Deutsche Bank Private Wealth Management announces the launch of a Global Private Markets team 12
Morgan Stanley 12
US: Morgan Stanley Smith Barney announces 2010–11 philanthropy gift catalogue 12
M&A, Partnerships, and Organic Growth 14
Citigroup 14
China: Citibank opens a new branch in Shenzhen 14
US: Citibank opens smart-banking branch in Union Square 15
Crédit Agricole 15
Belgium: Crédit Agricole Luxembourg announces creation of Credit Agricole Van Moer Courtens 15
DBS 16
Asia: DBS announces plans to strengthen its brand in Asia 16
China: DBS to acquire retail and commercial banking portfolios of RBS 16
Deutsche Bank 17
Germany: Deutsche Bank agrees to sell BHF Bank 17
Julius Baer 17
Italy: Julius Baer opens office in Rome 17
Northern Trust 17
US: Northern Trust announces the acquisition of Waterline Partners 17
Staffing 18
Barclays 18
US: Barclays Wealth announces the appointment of a director and regional manager for its Palm Beach office 18
US: Barclays Wealth announces regional expansion by appointing seven investment representatives 18
UK: Barclays Wealth announces appointment of senior private bankers 19
BNP Paribas 20
Belgium: BNP Paribas Fortis announces appointment of CEO 20
Crédit Agricole 20
France: Crédit Agricole announces new head of private banking 20
Deutsche Bank 21
Netherlands: Deutsche Bank announces new chief country officer for the Netherlands 21
HSBC 21
International: HSBC announces top management appointments 21
Julius Baer 21
Switzerland and Egypt: Julius Baer announces changes in the Middle East 21
OCBC 21
Hong Kong and Singapore: Bank of Singapore announces senior appointments 21
RBS 22
UK: Coutts & Co has recruited a new private banker to its team in Devon 22
UK: Coutts & Co announces the appointment of head of shipping wealth 22
Santander 22
US: Santander proposes new chief executive for US business 22
Sarasin 23
Switzerland: Bank Sarasin announces expansion strategy for Switzerland 23
Vontobel 23
International: Vontobel announces new chief executive officer for the group 23
Appendix 24
Methodology 24
Further reading 24
Ask the analyst 24
Datamonitor consulting 24
Disclaimer 24


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