Wealth Management Competitor Tracker, November 2008

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 November
  • There were some notable developments within the wealth management industry during November
    • Bank of America receives Federal Reserve approval for Merrill Lynch purchase
    • Banca Monte Dei Paschi board approves guidelines for Banca Toscana merger
    • Merger between Westpac and St.George approved
    • International companies are expanding their operations into emerging markets
  • In November, activity in the wealth management market rebounded slightly
    • There were a total of 22 competitor developments in November
    • M&A and staffing activity dominated the wealth market in November
    • Europe and Asia continued to be the main regional hubs for the wealth market
• Product innovation and customer targeting
  • Citigroup
    • Citibank Singapore launches innovative global home financing solution for affluent clients
• M&A, Partnerships and Organic Growth
  • Bank of America
    • Bank of America to exercise remainder of China Construction Bank option
    • Bank of America receives Federal Reserve approval for Merrill Lynch purchase
  • Citigroup
  • DBS
    • DBS has extended presence in China' s private banking market
  • Deutsche Bank
    • Deutsche Bank announces planned opening of a new representative office in Switzerland
  • Monte Paschi di Sienna (MPS)
    • Banca Monte Dei Paschi board approves guidelines for Banca Toscana merger
  • OCBC
    • OCBC Bank establishes a Malaysian Islamic subsidiary, OCBC Al-Amin
  • Pictet & Cie
    • Pictet & Cie has announced plans to grow its business in GCC countries
  • St.George Bank (SGB)
    • Merger between Westpac and St.George approved
  • Standard Chartered
    • Standard Chartered to acquire Lehman Brothers team and fixed assets in Brazil
  • Unicredit
    • UniCredit finalises the disposal of 183 branches to 13 banks
• Staffing
  • Credit Suisse
    • Christophe Racine named new head of private banking for Northern Switzerland
    • Clariden Leu appoints two new executive board members
  • Deutsche Bank
    • Ari Makela joins Deutsche Bank as managing director for Nordic coverage in global banking
    • Deutsche Bank appoints new head of Private Wealth Management UK
    • Deutsche Bank appoints Hanspeter Danuser to help establish new office in Switzerland
  • Mellon Financial Corp.
    • BNY Mellon Wealth Management hires head of private lending
  • Northern Trust
    • Northern Trust appoints President of San Diego Region
  • RBC Financial Group
    • RBC Wealth Management announces leadership changes
  • Standard Chartered
    • Standard Chartered to acquire Lehman Brothers team in Brazil
  • UBS
    • UBS bolsters wealth management team in Asia with a series of key hires
• 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: November marked an increase in total developments over the previous month
  • Figure 2: M&A and staffing developments accounted for the majority of activity for the month
  • Figure 3: Europe and Asia continued to see the majority of wealth management activity