In 1994, Aditya Puri left Citibank to launch a new institution in a rapidly changing India. As he prepares to retire after 26 years, HDFC Bank stands apart as the strongest and most successful private-sector bank in the country.
The greatest wealth transfer in history is taking place, as baby boomers pass the mantle – and their money – to a lucky few millennials, but the process is strewn with obstacles. Inheriting a lot of money is one thing, knowing what to do with it quite another. This is where good relationship managers come in.
As Spain prepares to digest the €17 billion merger of CaixaBank and Bankia, Andalucían lender Unicaja has revived merger talks with rival Liberbank as it faces a threat to its regional dominance. While its community roots are an advantage, it also needs an answer to the calls for change
It seems odd that a good soldier like Mike Corbat should hand to one of his colleagues the tough task of leading Citi through the Covid battlefield.
Joseph Poon is group head of DBS Private Bank, one of Asia’s leading wealth managers. But the event that drives him today, informing his values and his views on investing and risk management, was stepping aboard a rickety raft in 1976 to flee an impoverished and divided Vietnam.
Edelweiss has grown over 25 years into an independent and successful diversified financial services group, but it needs capital. Its decision to sell a controlling stake in its wealth management business spotlights the institution and the potential of the sector.