アジア太平洋地域における資産管理のベストプラクティス

Introduction

The global economy is well on the road to recovery and private banks are moving once again to strengthen their positions in a profitable landscape. Gone are the days of consolidation to secure a core position and wealth managers want to know how to expand what they have in the best possible way.

Scope of this report

• This report covers best practice in wealth management around the globe, with a focus on the Asia-Pacific region
• Competitors covered in this report include Merrill Lynch, HSBC, Barclays, Coutts, Citigroup, St. George, DBS, UOB, OCBC, Sand Aire and Credit Suisse
• This report incorporates primary research sources including private banks and wealth managers
• Secondary research sources include central banks, census and statistics departments and internet research

Research and analysis highlights

Citigroup is ensuring that it is always at the forefront of the clients thoughts on investing. Indeed, by targeting the children of wealthy clients, the bank is likely to be the first point of contact when the time comes to take financial responsibility.

In many cases competitors stand out more because of the deficiencies of the market than through being particularly innovative or far-reaching. In an industry that is built on elevated service levels this is a sad prognosis.

What makes Coutts segmentation strategy so robust is that the bank has chosen to take many different factors into account in breaking the client base down. It is difficult and costly to split down a client base at all, so doing things in this way makes Coutts an example of best practice in segmentation.

Key reasons to read this report

• Marketing managers: Find out how your competitors are presenting themselves to the market and leveraging distribution and information channels
• Strategy managers: Benchmark yourself against your competitors through analysis of their initiatives
• Private banking directors: Find out what is best practice in client centricity and what your competitors are doing to get ahead

TABLE OF CONTENTS

CHAPTER 1 EXECUTIVE SUMMARY

• Introduction
• Who is the target reader?
• Setting the scene
• Why is best practice important?
• The basic measures of success
• The key qualifying criterion for best practice
• Key finding
• Customer orientation
• Key findings
• Expansion
• Key findings
• Use of service channel
• Key findings

CHAPTER 2 INTRODUCTION

• Who is the target reader?
• How to use this report
• Report Methodology

CHAPTER 3 SETTING THE SCENE

• Why is best practice important?
• The increasing focus on best practice
• The opacity of the market makes best practice difficult to determine
• Despite this wealth managers still strive for industry excellence
• How can best practice be measured?
• The basic measures of success
• The key qualifying criterion for best practice

CHAPTER 4 CUSTOMER ORIENTATION

• Customer involvement
• Citigoup has been investing in relationships
• The co-investment concept has been offered by CPB to its clients
• Targeted seminars are also offered to selected client groups
• Citibank NRI is sponsoring key events
• The verdict
• ICICI has been focusing on domestic clients
• ICICIs regional seminar circuit
• The verdict
• Service focus
• Sand Aire keeping it in the family
• The verdict
• Customer segmentation
• Coutts multi-criteria segmentation strategy
• How does this compare to other offerings?
• The verdict
• Data

CHAPTER 5 EXPANSION

• Domestic expansion
• Coutts has looked to the provinces for clientele
• 2003 marked the turnaround in strategy...
• ...and the West Midlands was the first area to be expanded...
• ...followed by the North-West
• ...then Cumbria in the North-East and Oxford in 2004
• 2005 has already seen growth in the South-East and North East
• The fruits of expansion
• And what about the future?
• The verdict
• Barclays takes on the UK market
• Organizational structure was a hindrance
• The first move was to make an acquisition
• Then came the restructure
• The verdict
• International expansion
• UBS taking over the world
• Starting with organic European growth
• Then European acquisition
• The results in Europe
• Reflecting on success
• Expansion outside of Europe
• The verdict
• DBS has become a regional private banking force
• The Hong Kong/Singapore advantage
• Scoping out opportunities
• Leveraging group resources
• Partnerships
• Verdict

CHAPTER 6 USE OF SERVICE CHANNEL

• Branch-based services
• The Singaporean domestic banks have recognized the power of premier branches
• UOB was a slow starter
• DBS is gaining ground
• And OCBC is ambitious
• Competition has been a driver of innovation
• Singapore is ahead of other countries
• The verdict
• Technology propositions
• Credit Suisse Private Banks cutting edge technology
• Its all about enabling your clients
• What about the future?
• How does this compare to other offerings?
• The verdict
• Direct interaction
• St. George has shown progressiveness in front line service
• Through use of relationship teams
• By switching from fees to commission
• And by reviewing staff remuneration
• The verdict

CHAPTER 7 APPENDIX

• Definitions
• AAGR
• CAGR
• Gini index
• Liquid assets
• Liquid asset bands
• Research methodology
• The Global Wealth Model
• The UK sub model
• Asia-Pacific sub model
• Forecasting methodology
• Datamonitors wealth numbers compared with others numbers
• Bespoke Wealth Market Sizing
• Further reading
• Datamonitor Asia-Pacific Wealth Reports
• Datamonitor Asia-Pacific Insight Reports
• Asia-Pacific contacts

List of Tables

• Table 1: The motivations for setting up a family office differ greatly by family office model
• Table 2: Key indicators of success for the global private banks
• Table 3: Premier banking branches in Singapore
• Table 4: Wealth markets that have been modeled using the Global Wealth Model
• List of Figures
• Figure 1: Methodology diagram and report structure
• Figure 2: Compared to its peers, Citigroup Private Bank has performed well over the last few years, both in client acquisition and revenue growth
• Figure 3: Citigroup Private Banks regional advertising highlights commitment to relationships in the Asia-Pacific region
• Figure 4: Coutts segmentation strategy allows the bank to cater for almost any client
• Figure 5: Coutts regional office network in England and Wales
• Figure 6: The problems facing Barclays were of disparity and service gaps
• Figure 7: The Barclays model is now much more comprehensive and allows for the easy feed-through of clients
• Figure 8: UBS Wealth Management offices in Europe, March 2005
• Figure 9: UBS acquisition strategy over the last two years has seen a significant inflow of client assets for its European Wealth Management business
• Figure 10: Almost every international private client brand has a presence in Hong Kong and Singapore
• Figure 11: UOBs Wealth Management Centres have lounge style seating and private meeting rooms
• Figure 12: Singapore is one of the most competitive premier markets in the world, with just 19,000 potential clients per competitive offering
• Figure 13: Credit Suisses wealth management business model
• Figure 14: Credit Suisse Private Banking Website
• Figure 15: Credit Suisse Private Bank has improved revenues and profits since the market downturn, but it is far from being the best performing wealth manager
• Figure 16: There are several different ways in which wealth managers are choosing to manage their clients