Wealth Management Competitor Tracker, March 2008

Publication Date	May 2008
Publisher	Datamonitor
Product Type	Report
Pages	35
ISBN Number	not applicable
Product Code	DAT11507

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Summary

Introduction

This monthly tracker covers product innovation, customer targeting, M&A, partnerships, organic growth, and staffing activity globally in the wealth management space.

Reasons to Purchase

View the analysis of wealth management M&A activity and other trends over the quarter.
Track the strategies announced by 50+ of your key competitors
Assess which geographies and strategic areas are seeing the most activity

Content

Overview
Catalyst
Summary
The Roundup
- M&A, partnerships, organic growth and staffing
- M&A activity supported expansionary aims, mainly in the US and Asia-Pacific markets
- Wealth appointments continued to be concentrated in the US market, with limited activity noted in European and emerging markets
- Product innovation and customer targeting
- Product innovation was driven by capital protected investments and indices
- Wealth managers in Europe and the US focused on specific wealthy customer segments
- M&A, Partnerships, organic growth and staffing: The developments
- ANZ
- Australia: ANZ opens private banking branch in Canberra (Organic Growth) - March 2008
- Banca del Gottardo
- Switzerland: Banca del Gottardo acquired by BSI (M&A) - March 2008
- Bank of America
- US: Bank of America announes leadership changes in premier banking annd investments (Staffing) - March 2008
- Barclays
- Russia: Barclays to acquire Russian bank Expobank (M&A) - March 2008
- Bessemer Trust (whole business)
- US: Bessemer Trust appoints head of Latin American and international business development (Staffing) - March 2008
- Citigroup
- China: Citibank China opens new Beijing headquarters (Organic Growth) - March 2008
- DBS
- India: DBS expands operations in India (Organic Growth) - March 2008
- Vietnam: DBS receives approval for Vietnam office (Organic Growth) - March 2008
- Deutsche Bank
- China: Deutsche Bank increases equity stake in Hua Xia Bank (M&A) - March 2008
- US: Deutsche Bank names managing director and client advisor in Boston (Staffing) - March 2008
- HSBC
- China: HSBC China launches private banking business (Organic Growth) - March 2008
- Taiwan: HSBC completes acquisition of the Chinese Bank in Taiwan (M&A) - March 2008
- Vietnam: HSBC one of the first to incorporate in Vietnam (Organci Growth) - March 2008
- UK: HSBC Private Bank appoints new chief executive (Staffing) - March 2008
- JPMorgan Chase
- US: JPMorgan Chase purchases Bear Stearns (M&A) - March 2008
- Mellon Financial Corp
- US: The Bank of New York Mellon to sell Mellon Business Bank and focus more on wealth management (Divestment) - March 2008
- US: The Bank of New York Mellon to add wealth management positions in Pittsburgh (Staffing) - March 2008
- Northern Trust
- US: Northern trust appoints president of global investments (Staffing) - March 2008
- PNC
- US: PNC completes conversion of Yardville National Bank (M&A) - March 2008
- US: PNC completes the sale of Hillards Lyons (Divestment) - March 2008
- RBC Financial Group
- US: RBC Dain Rauscher to become RBC Wealth Management (Re-branding) - March 2008
- SEB
- India: SEB opens representative office in New Delhi, India (Organic Growth) - March 2008
- Standard Chartered
- Vietnam: Standard Chartered receives approval to incorporate in Vietnam (Organic Growth) - March 2008
- UBS
- US: UBS opens private wealth management office in Houston, Texas (Organic Growth) - March 2008
- Switzerland: UBS makes staff proposal to Board of Directors (Staffing) - March 2008
- Product innovation and customer targeting: the developments
- Citigroup
- India: Citibank launches Citigold Select for high net worth clients (Customer targeting) - March 2008
- Deutsche Bank
- Hong Kong: Deutsche Bank targets entrepreneurs and business leaders through the hire of six senior Hong Kong private bankers (Customer targeting) - March 2008
- RBC Financial Group
- Canada: Royal Bank of Canada launches Canada's first Visa Infinite card (Product innovation) - March 2008
- Sarasin
- Switzerland : Sarasin introduces Sustainable Water Fund (Product innovation) - March 2008
- Socit Gnrale
- France : Socit Gnrale launches SGI-orbeo Carbon Credit Index (Product innovation) - March 2008
- St George
- Australia: St George increases deposit rates for Pensioner account (Customer targeting) - March 2008
- UBS
- Switzerland: UBS launches CMCI Food Index (Product innovation) - March 2008
- Vontobel
- Switzerland: Vontobel launches Exchange Traded Structured Funds with conditional or full capital protection (Product innovation) - March 2008
- Other companies:
- Legal & General
- UK: Legal & General launches international index trust (Product innovation) - March 2008
Appendix
- Methodology
Index of Strategies by Company
- ANZ
- Banca del Gottardo
- Bank of America
- Bank of New York Mellon
- Barclays
- Bessemer Trust
- BNP Paribas
- Citigroup
- Commerzbank
- Credit Suisse
- DBS
- Deutsche Bank
- HSBC
- JP Morgan Chase
- Julius Baer
- KBC
- Merrill Lynch
- Morgan Stanley
- Northern Trust
- PNC
- RBC Financial Group
- Sarasin
- Schroders
- SEB
- Socit Gnrale
- St George
- Standard Chartered
- UBS
- Unicredit
- Vontobel
- Wachovia
- Westpac
Index of Strategies by Geography
- Western Europe
- France
- Germany
- Spain
- UK
- Russia
- North America
- US
- Africa
- Middle East
- Asia
- Australia
- India
- China
Index of Strategies by Trend
- M&A
- Partnerships
- Organic Growth
- Staffing
- Product innovation
- Property investment
- Ethical investments
- Exchange traded funds
- Customer targeting
- Entrepreneurs
- Mass Affluent
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer