Although Asia remains in the vanguard of private banking growth, a new survey from Boston Consulting Group highlights key challenges ahead.
According to the BCG report, the market is slowing, with wealth in Asia forecast to grow by 6.8% annually through to 2009. That compares with a compound annual growth rate of 11.8% between 2003 and 2004.
With staff costs on the rise because of a serious shortage of talented bankers, and competition increasingly fierce, Asia’s private bankers need to fight to retain clients and to increase wallet share of fees, says BCG.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
