Table of Contents
OVERVIEW
- Catalyst
- Summary
- Methodology
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 MAY
- There were a few notable developments within the wealth management
industry during May
- BNP Paribas acquiring Fortis Bank
- Insinger de Beaufort merging with BNP Paribas Wealth Management
- HSBC acquiring Bank Ekonomi
- Dresdner Bank merging into Commerzbank
- In May, activity in the wealth management market continued to grow
- There were a total of 30 competitor developments in May
- Staffing continued to account for the majority of developments in the
month
- Wealth managers were most active in European markets
PRODUCT INNOVATION AND CUSTOMER TARGETING
- BNP Paribas
- BNP Paribas launches BNP Paribas Personal Investors' services for
affluent investors in Asia and Europe
- Commerzbank
- Commerzbank announces strategic and operational structure for the bank' s
future
- DBS Bank
- The Islamic Bank of Asia targets Islamic investors with Sharia-compliant
products
- NAB
- NAB private bank creates new wealth division to target high net worth
and ultra high net worth clients
- UBS
- UBS launches internal crossing platform in Hong Kong to enhance client
liquidity
- Wells Fargo
- Wachovia Securities changes name to Wells Fargo Advisors
M&A, PARTNERSHIPS AND ORGANIC GROWTH
- BBVA
- Private banking and financing agreements signed between BBVA and CITIC
- Bessemer Trust
- Bessemer Trust opens a new office to serve wealthy families
- BNP Paribas
- BNP Paribas acquires Fortis Bank
- Insinger de Beaufort merges with BNP Paribas Wealth Management
- Commerzbank
- Dresdner Bank merges into Commerzbank
- Credit Suisse
- Credit Suisse launches Private Banking operation in Japan
- Credit Suisse and Woori Financial Group terminate their Korean alliance
- HSBC
- HSBC acquires an 88.89% stake in Bank Ekonomi
- Julius Baer
- Julius Baer announces the acquisition of Alpha SIM
- Julius Baer divides its Private Banking and Asset Management businesses
into two independent listed companies
- Vontobel
- Bank Vontobel Europe commences operations in Germany
STAFFING
- Barclays
- Barclays Wealth appoints head of investment advisory
- Bessemer Trust
- Tiffany Barbara appointed as senior client account manager and principal
- Bessemer restructures management responsibilities to accommodate client
requirements
- BNP Paribas
- Herman Daems to be proposed as chairman of the new board of Fortis Bank
- Commerzbank
- Personnel restructuring on the board of management of Commerzbank
- Deutsche Bank
- Deutsche Bank appoints Robert Rankin as CEO of Asia Pacific
- HSBC Bank
- Dorothy Sit appointed head of Hang Seng China
- Morgan Stanley
- Gary Lynch appointed vice chairman of Morgan Stanley
- Northern Trust
- Northern Trust restructures leadership positions in US southwest region
- RBS
- RBS Group announces senior management changes
- SEB
- Jan Sinclair joins SEB as country manager of Germany
- Standard Chartered
- Standard Chartered Private Bank plans to hire 100 relationship managers
- UBS
- UBS names Andreas Hofert new chief economist in Switzerland
- UniCredit Group
- UniCredit makes changes in top management
APPENDIX
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: The 57 companies covered by Datamonitor' s Wealth Management
Competitor Tracker
FIGURES
- Figure: Activity in the wealth management industry continued to increased
in May
- Figure: Staffing changes continued to be the most dominate category for
wealth activity in May
- Figure: European markets saw the majority of wealth management activity
for the month
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