Private banks facing crunch time in Asia
More wealth industry consolidation looks inevitable in Asia, as firms face higher costs, margin compression and rising competition from independents. They must adapt, but how?
Times are tough for Asia’s wealth management industry, and those firms that cannot adapt to new realities look set to fall by the wayside or be swallowed up by rivals. Facing rising costs, narrowing margins and competition from independent boutiques and family offices, many private banks must change their business models, note industry players.
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