Last year was a relatively busy year for the private banking & wealth management market, we saw regional key movements from various banks that have led to team moves, restructuring and firms changing their strategy for 2020. What will the market be this year?
Private Banking & Wealth Management Market Forecast
We believe private banks and external asset managers (EAMs) will continue targeting the increasing wealth growth and investment sophistication across APAC through various strategies including partnerships, and increased emphasis on sustainable & discretionary investments to capture alpha, collectively spurring increasing movement from bankers and senior industry experts across platforms.
With increased client demands and regulatory influence, the EAM business has seen strong growth in Asia. Hong Kong and Singapore are well established financial centres and an excellent destination to build an EAM business and project to increase - by 25% in Singapore and 50% in Hong Kong.
To remain competitive, we recommend hiring managers and HR partners to look at candidates in the market whether they are actively recruiting or not. If you have your eye on a strong candidate, it is very likely that your competitors do so too. One way to distinguish yourself is by providing the candidate with an interview experience centred around trust, communication, and details.
This report provides a forecast for the private banking & wealth management job market in Asia-Pacific.
If you need support in securing private banking & wealth management talent for your team, submit a vacancy and a member of our private banking & wealth management team will be in touch.