Wealth management fees more than doubled between 2010 and 2015 at Singapore’s three banks, as Asia Pacific surpassed North America as home to the largest number of high net worth individuals. Fees and commission income from wealth management services increased four-fold at DBS Group Holdings and more than doubled at Oversea-Chinese Banking Corporation and United Overseas
The population of millionaires in Singapore is expected to grow by more than 18.3% by 2020, compared with 15.6% in Hong Kong.There were 154,189 high-net worth individuals (HNWIs) in Singapore in 2014 holding $806.3bn (£530.5bn, €756.1bn) in wealth, according to a report from WealthInsight. This compares with 193,553 HNWIs in Hong Kong, collectively holding $1.1trn in
2014 is now upon us and already furious debate rages over the “fragile five” and the effects of reduced global liquidity on the emerging markets. In this latest quarterly newsletter, we also evaluate the “New New Normal” and interest rate normalisation effects on the developing world, particularly South Africa. We have our regular International and
