Wealth Management Competitor Monitor : June 2011

• Publication date: August 2011

About This Report 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, Merger and Acquisition, partnerships, organic growth, and staffing. Competitors tracked include Barclays Wealth, BNP Paribas and Clariden Leu. What's Included in This Report? * Gain invaluable inf...

About This Report

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, Merger and Acquisition, partnerships, organic growth, and staffing. Competitors tracked include Barclays Wealth, BNP Paribas and Clariden Leu.

What's Included in This Report?


* Gain invaluable information on competitors in one concise document; identify long-term trends using the Excel database.

* Sharpen your strategy by implementing the best industry, 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.

Key Market Facts

Activity in the wealth management market 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.

Why Should You Buy This Report?


* Where is the competition grow ing 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?

Private Banking Industry in North America

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 market in June
Product innovation and customer targeting: BNP Paribas, Fidelity, and Adam & Co. all hosted philanthropy initiatives
Merger and Acquisition, partnerships, and organic growth: Clariden Leu reorganizes to separate mature business from growth business
Staffing: Barclays Wealth is grow ing 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 EUR pe
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 distribution industry
BNP Paribas
International: BNP Paribas holds fourth annual personal philanthropy awards
Charles Schwab (Schwab Private Client)
US: Charles Schwab launches Clients Speak, June 2011
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 Firms 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 2011
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 take over 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 distribution business and refocuses on wealth management and capital industry s
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 take over of private client investment management from Barings
STAFFING
Banque Privée Edmond de Rothschild
Switzerland: Rothschild further grow s 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 grow ing its Americas business with six new investment representatives
UK: Barclays appoints new head of business services to reinforce focus on Scottish wealth industry
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 industry ing
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