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Private banking: Asian clients return to risk cautiously

Eager to move out of the low-yielding cash they sheltered in during the crisis, clients of Asia’s private banks are moving to riskier assets, with a renewed interest in diversification. Will that also mean diversifying their choice of banks? Lawrence White reports.

Monica Wong, chief executive of HSBC’s private bank in Asia

"Exposures to high-quality investments were generally retained for eventual recovery, which was more vigorous than many expected"

Monica Wong, HSBC

Having survived the worst of the crisis in perhaps better shape than their counterparts in the west, Asia’s top private banking franchises and their clients are looking forward to 2010 with a mixture of relief that the worst is apparently behind them and apprehension about what the year ahead holds.

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