The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Editorial: Emerging market illusions

According to the heads of the world’s largest and most successful global private banks, the main driver of revenue growth for 2011, and for several years to come, will be rich individuals in Asia and Latin America. So adamant are they that this is where growth lies that the top-10 global private banks aim to add a combined 1,000 or so employees in those regions over the next 12 months.

It’s an obvious strategy to counteract the pressure on overall revenues. Those banks that were disgraced in the crisis are regaining clients and therefore increasing competition. Client risk appetite is still subdued so more lucrative investment products remain on the shelf. Cross-border tax issues and compliance are increasing costs.

The emerging markets, if they can still be so-called, therefore offer some relief to private bankers as they gaze into an uncertain economic future for Europe and the US. Emerging markets, particularly Asia, boast the fastest growth rate of high-net-worth individuals, and that is unlikely to change.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree