Lack of trust in banks in Asia is “no surprise”

The widespread lack of trust in banks as providers of investment advice and products – as indicated by a new report – is to be expected in Asia, says Jimmy Ng, Singapore-based director of investments at Swiss private bank Bordier & Cie. The EY 2016 Global Consumer Banking Survey, which polled 55,000 retail consumers from 32 markets, found that investors did not trust banks to provide unbiased advice. In Hong Kong, for example, only one-third of respondents trusted banks to kee…