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Why is Private Banking so Different?
29 September, 2020Euromoney, September 24, 2020
There is no shortage of European private banks hitching their futures to Asia. But it has largely been a one-way street: most Asian banks find there is plenty to occupy them at home without pitching Europe for new work.
But Bank of Singapore chief executive Bahren Shaari tells Euromoney that the private bank saw double digit year-on-year growth out of Europe in the year to June 30, 2020.
Despite Covid-19 and a deeply entrenched competitive environment, it appears that traditional European markets, with their multi-generational history of wealth, can still provide growth for businesses headquartered in places with much greater momentum at home.
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Chris Wright
Chris is a journalist specialising in business and financial journalism across Asia, Australia and the Middle East. He is Asia editor for Euromoney magazine and has written for publications including the Financial Times, Institutional Investor, Forbes, Asiamoney, the Australian Financial Review, Discovery Channel Magazine, Qantas: The Australian Way and BRW. He is the author of No More Worlds to Conquer, published by HarperCollins.