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| Tuesday, 19 October 2010, 10:20 HKT/SGT | |
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Source: VRL | |
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SINGAPORE, Oct 19, 2010 - (ACN Newswire) - Private Banker International (PBI) 20th Wealth Summit on 20 - 21 October 2010 in Singapore will survey the private banking landscape and discuss the latest trends in the wealth industry. The credit crisis, the upheaval and turmoil of investment markets and the attacks on offshore banking in general, and Swiss banking secrecy in particular, have all tested the industry. All this has left a legacy of distrust among some clients, who have come to question the value their advisers give them.
-- Leading private banks have all announced major new hiring initiatives
in Asia, now the sizzling hotspot for wealth management clients.
-- However, the rush of private banks recruiting large numbers of staff
in Asia is creating an unsustainable bubble that could burst.
-- The PBI Wealth Summit will address these issues and many others that
affect the wealth industry.
-- The prestigious Private Banker International Awards will continue to
highlight the best and brightest in the industry globally. Winners
will be announced at the Awards Gala Dinner on 20 October 2010.
-- Members of the media are invited to attend both the conference and
Awards Gala Dinner.
Nicholas Moody, Editor of PBI, believes Asia-Pacific private banking holds huge promise as the numbers of the region's high net worth investors continues to swell. "But there are danger signs. This quest for growth, especially in Singapore, is reigniting the war for talent and putting the long-term sustainability of the industry at risk," explains Moody.
"Global private banks are betting heavily on Asia to give them new growth at a time when Europe and North America remain relatively torpid. Asia is creating private wealth at a stellar rate yet any setback, like a plunge in trading volumes, could leave players dangerously exposed to over-manned and over-paid client desks," according to Moody.
The PBI Wealth Summit 2010 will discuss and help shape industry opinion on key trends and developments. Delegates from more than 15 countries will attend the event. Issues that will be highlighted include:
-- How do private banks adapt their fee structures to compensate for
increasing compliance and regulation costs?
-- Ultra high net worth - gaining market share in the industry's most
competitive segment.
-- How to stay on top of regulatory issues with improved processes,
technology and staff education.
-- How to tap the war for talent and maintain long term sustainability.
Moody says, "The PBI Wealth Summit will look to the heart of these issues as private banks around the global re-align their strategies in the new post-crisis era of increased regulation, transparency and shifting client attitudes."
PBI Global Awards 2010
PBI Wealth Summit will also host the prestigious PBI Global Awards for excellence and best practice, in recognition of industry leaders, individuals and organisations that are setting new benchmarks.
Finalists and winners are determined and decided from the worldwide readership of PBI, and submissions from a number of private banks and wealth management institutions across the Americas, Europe, Russia, Middle East and Asia.
Results will be announced and presented at the Awards Gala Dinner on 20 October 2010 during the course of the Wealth Summit which will be held at the Shangri-La Hotel, Singapore.
Members of the media are invited to cover both the Wealth Summit and Awards Gala Dinner. For further information or to interview the speakers and editor of PBI, please RSVP and contact Rosemary Pang at the contact details below.
Contact:
Shubhreet Kochhar
Associate Editor
Tel: +65 6383 4688
HP: +65 8328 2151
shubhreet.kochhar@vrlfinancialnews.com.sg
Rosemary Pang
Media Relations
Tel: +65 6383 4688
HP: +65 9477 1545
rosemary.pang@vrlfinancialnews.com.sg
Topic: Trade Show or Conference
Source: VRL
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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