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Wealth Management Competitor Tracker: June 2011
Consumer

  • Publication Date:August 2011
  • Publisher:Datamonitor
  • Product Type: Brief
  • Pages:40

Wealth Management Competitor Tracker: June 2011 Consumer

Introduction

The Wealth Management Competitor Tracker follows the developments of 100 wealth managers and their associated brands globally. Produced monthly, it covers product innovation, customer targeting, M&A, partnerships, organic growth, and staffing. Competitors tracked include Barclays Wealth, BNP Paribas and Clariden Leu.

Features and benefits

  • Gain invaluable information on competitors in one concise document; identify long-term trends using the Excel database.
  • Sharpen your strategy by implementing the best market, product, competitor and strategic developments of leading global players.
  • Learn the Datamonitor Wealth & Investments Team's view on the most important competitor developments in the month.

Highlights

Activity in the wealth management industry stepped up significantly in June, with a total of 63 competitor developments recorded among the 100 wealth managers tracked. This is well above the 12-month average of 30, and places June as the busiest month tracked over the last year.

Product innovation and customer targeting accounted for the highest proportion of activity in June, with 27 developments out of the total of 63. There were a number of notable developments recorded during the month, particularly in customer targeting.

The largest proportion of competitor activity in June originated from Western Europe, which accounted for 22 of the 63 developments. Stories from Western Europe included the completion of the Commerzbank-Dresdner integration and the rebranding and reorganization at Rensburg Sheppards and Clariden Leu.

Your key questions answered

  • Where is the competition expanding their presence and opening new branches?
  • Which competitors have experienced the most staffing changes over the last month?
  • What new products and customer targeting strategies are my competitors using?
  • OVERVIEW
    • Catalyst
    • Summary
    • Methodology
  • INTRODUCTION
    • The Wealth Management Competitor Tracker provides both one-month and 12-month views of developments
    • As of January 2011, Datamonitor now tracks the most relevant announcements from 100 competitors
    • Datamonitor's Wealth and Investments Team provides analysis of the key developments at one-month and 12-month intervals
    • A fully searchable database covering the past 12 months of developments is also delivered alongside the report
  • KEY DEVELOPMENTS IN JUNE
    • Notable developments within the wealth management industry in June
    • Product innovation and customer targeting: BNP Paribas, Fidelity, and Adam & Co. all hosted philanthropy initiatives
    • M&A, partnerships, and organic growth: Clariden Leu reorganizes to separate mature business from growth business
    • Staffing: Barclays Wealth is expanding its Americas business with six new investment representatives
    • Wealth management activity in June reached new heights
    • There were a total of 63 developments in June
    • Developments in product innovation and customer targeting, and staffing accounted for the majority of activity in June
    • 35% of competitor developments took place in Western Europe
  • PRODUCT INNOVATION AND CUSTOMER TARGETING
    • ABN Amro
    • Asia Pacific: ABN Amro Private Banking strengthens NRI team
    • Abu Dhabi Commercial Bank
    • UAE: ADCB sponsors Abu Dhabi Harlequins rugby club
    • Agricultural Bank of China
    • China: ABC launches new "Jin Qu Zeng Li" bond products
    • China: ABC holds "Ji Jin Bao" Wealth Forum in Hangzhou
    • Bank of America Merrill Lynch
    • US: Bank of America to almost double number of financial solutions advisors for mass affluents
    • US: Bank of America and World Bank offering green bonds to Merrill Lynch Wealth Management clients
    • US: Merrill Lynch Wealth Management targeting women concerned about retirement
    • Bank of Queensland
    • Australia: BoQ launches new self managed super options
    • Barclays
    • UK: Barclays Wealth launches trend funds to retail market
    • BNP Paribas
    • International: BNP Paribas holds fourth annual personal philanthropy awards
    • Charles Schwab (Schwab Private Client)
    • US: Charles Schwab launches Clients Speak, June
    • Commonwealth Bank of Australia
    • Australia: CBA's Colonial First State announces changes to FirstChoice and FirstWrap IT platforms for financial advisors
    • Deutsche Bank
    • Dubai: Deutsche Bank hires four senior bankers for its South Asia team
    • Falcon Private Bank
    • Switzerland: Falcon Bank sponsors Emirati-Swiss Friendship Forum
    • Fidelity
    • US: Fidelity Family Office Services partners with Foundation Source for philanthropic services
    • US: Fidelity attracting intermediary business through philanthropy seminars
    • ICBC
    • China: ICBC launches "Link Express ultra-short 7-day RMB profit increase" wealth management product
    • J.P. Morgan Chase
    • US: the Ritz-Carlton Hotel Company and J.P. Morgan have launched the Ritz-Carlton Rewards Credit Card
    • KBC
    • UK: Brown Shipley sponsors Birmingham Law Society
    • Morgan Stanley
    • US: Morgan Stanley Smith Barney launches seminars for lesbian, gay, bisexual, and transgender clients
    • National Australia Bank
    • Australia: MLC enhances MasterKey IT platform
    • Australia: MLC helps advisers identify more client needs
    • RBS
    • UK: Adam & Co. hosted a philanthropy forum in Edinburgh
    • Santander
    • Spain: Banif has launched a new guaranteed fixed income fund, June
    • Standard Bank of South Africa
    • Channel Islands: Standard Bank strengthens Australian expatriate offering
    • UBS
    • Switzerland: UBS launches Swiss Real Estate Bubble Index
    • Westpac
    • Australia: AdviserNETgain has released an in-depth integration with investment platform BT Wrap
    • Australia: BT Wrap has launched a series of improvements to its platform
    • M&A, PARTNERSHIPS, AND ORGANIC GROWTH
    • Abu Dhabi Commercial Bank
    • Malaysia: ADCB sells stake in RHB Capital Berhad to Aabar Investments
    • Agricultural Bank of China
    • Taiwan: ABC signs MOU with Cathay United Bank
    • Bank of East Asia
    • Hong Kong: BEA extends branch service to Shun Tak Centre
    • Bank of Montreal
    • US: BMO Financial Group receives bank regulatory approvals to acquire Marshall & Ilsley
    • Commerzbank
    • Germany: Commerzbank and Dresdner Bank complete their integration
    • Credit Suisse
    • Clariden Leu reorganizes to separate mature business from growth business
    • Industrial and Commercial Bank of China
    • Hong Kong: ICBC opens new Elite Club Wealth Management Centre
    • Investec
    • UK: Rensburg Sheppards being rebranded
    • RBC
    • US: RBC divests US retail business and refocuses on wealth management and capital markets
    • Sarasin
    • Switzerland: Bank Sarasin opens new branch in Lucerne
    • Scotiabank
    • Uruguay: Scotiabank closes transaction to buy Nuevo Banco Comercial
    • Canada: Scotia Private Client Group announces partnership with Tiger 21 Canada
    • Société Générale
    • UK: SGPB Hambros completes acquisition of private client investment management from Barings
  • STAFFING
    • Banque Privée Edmond de Rothschild
    • Switzerland: Rothschild further expands investment team
    • Germany: Rothschild appoints new CEO for its German wealth management business
    • Switzerland: Rothschild appoints new head of UHNW clients
    • Barclays
    • US: Barclays Wealth is expanding its Americas business with six new investment representatives
    • UK: Barclays appoints new head of business services to reinforce focus on Scottish wealth market
    • Latin America: Barclays Wealth makes key Latin America appointment
    • Bendigo and Adelaide Bank
    • Australia: Bendigo Wealth makes multiple new appointments
    • Bessemer Trust
    • US: Bessemer Trust appoints new managing director and head of San Francisco office
    • Credit Suisse
    • Australia: Credit Suisse hires new head of private banking Australia
    • Deutsche Bank
    • Australia: Deutsche Bank hires new head of private wealth management Australia
    • EFG International
    • Switzerland: EFG International appoints new CEO
    • HSBC
    • Hong Kong: HSBC appoints group head of wealth management
    • Julius Baer
    • Singapore: Julius Baer strengthens its Asia Investment Solutions Group
    • Switzerland: Julius Baer appoints new head of Middle East and Eastern Mediterranean
    • National Australia Bank
    • Australia: MLC appoints new general manager of marketing
    • Northern Trust
    • US: Northern Trust appoints wealth strategist in Northern California
    • US: Northern Trust appoints president of New York personal financial services
    • UK and Channel Islands: Northern Trust strengthens wealth management with four new additions
    • Rathbones
    • UK: Rathbones has announced two senior appointments to its investment management team
    • Sarasin
    • Switzerland: Bank Sarasin appoints new head and deputy of Lugano branch
    • Union Bancaire Privée
    • Global: Union Bancaire Privée appoints new chief investment officer of its private banking division
    • Westpac
    • Australia: BT Financial Group appoints head of practice management
  • APPENDIX
    • Methodology
    • Further reading
    • Ask the analyst
    • Datamonitor consulting
    • Disclaimer
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