Wealth Management Competitor Tracker, July 2010
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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
- Track the strategies announced by 50+ of your key competitors
- Assess which geographies and strategic areas are seeing the most activity
Table Of Contents
Overview 1
Catalyst 1
Summary 1
Methodology 1
Summary 1
Methodology 1
Table of Contents 2
Introduction 3
The Wealth Management Competitor Tracker provides both one-month and 12-month views of developments 3
Each month, Datamonitor tracks the most relevant announcements from 55 competitors 3
Datamonitor’s Wealth Management Team provides analysis of the key developments at both the one-month and 12-month level 4
A fully searchable database of the past 12 months of developments is also provided alongside the report 4
Key Trends and Developments in July 5
There were some notable developments within the wealth management industry during July 5
Citibank introduces Citigold Private Client 5
Barclays forms a private banking joint venture with Mitsui Banking and Nikko Cordial Securities 6
In July, activity in the wealth management market remained slow 6
There were a total of 18 competitor developments in July 6
Staffing continued to be a strong area in July 7
Competitor activity remained relatively high in Asia and Europe in July 8
Product Innovation and Customer Targeting 10
Citi 10
Citibank introduces Citigold Private Client 10
HSBC 10
HSBC enhances WealthSave plan to include Chinese yuan 10
JPMorgan Chase 10
Chase expands relationships with its affluent customers 10
M&A, Partnerships and Organic Growth 11
ABN Amro 11
ABN Amro completes merger with Fortis Bank Netherlands and decides to close 30 head and regional offices 11
Barclays 11
Barclays forms a private banking joint venture with Mitsui Banking and Nikko Cordial Securities 11
BNP Paribas 12
BNP Paribas Wealth Management to restructure its business’ governance 12
BNY Mellon 12
BNY Mellon awarded banking license in Beijing 12
Commerzbank 13
Commerzbank completes the sale of Kleinwort Benson 13
Vontobel 14
Vontobel Group consolidates its banking services in Germany 14
Staffing 15
Bank of America 15
Bank of America appoints Mark Rosen 15
BNP Paribas 15
BNP Paribas Personal Investors announces a new appointment 15
Credit Suisse 15
Credit Suisse makes senior private banking appointments for ultra-HNWs in Asia 15
Morgan Stanley 16
Morgan Stanley appointed James J. Tracy as chief operating officer of distribution and development in wealth management in the US 16
Douglas J. Ketterer appointed as head of Morgan Stanley Private Wealth Management in the US 16
Société Générale 17
Société Générale appoints Hsiao-Yun Lee as CEO for its private banking division 17
Société Générale announces the appointment of the head of its representative office in Abu Dhabi 17
Société Générale Private Banking targets Latin American clients by creating a new role 17
Union Bancaire Privée 18
Union Bancaire Privée announces the appointment of the managing director of its private banking division 18
Appendix 19
Methodology 19
Further reading 19
Ask the analyst 19
Datamonitor consulting 19
Disclaimer 19
The Wealth Management Competitor Tracker provides both one-month and 12-month views of developments 3
Each month, Datamonitor tracks the most relevant announcements from 55 competitors 3
Datamonitor’s Wealth Management Team provides analysis of the key developments at both the one-month and 12-month level 4
A fully searchable database of the past 12 months of developments is also provided alongside the report 4
Key Trends and Developments in July 5
There were some notable developments within the wealth management industry during July 5
Citibank introduces Citigold Private Client 5
Barclays forms a private banking joint venture with Mitsui Banking and Nikko Cordial Securities 6
In July, activity in the wealth management market remained slow 6
There were a total of 18 competitor developments in July 6
Staffing continued to be a strong area in July 7
Competitor activity remained relatively high in Asia and Europe in July 8
Product Innovation and Customer Targeting 10
Citi 10
Citibank introduces Citigold Private Client 10
HSBC 10
HSBC enhances WealthSave plan to include Chinese yuan 10
JPMorgan Chase 10
Chase expands relationships with its affluent customers 10
M&A, Partnerships and Organic Growth 11
ABN Amro 11
ABN Amro completes merger with Fortis Bank Netherlands and decides to close 30 head and regional offices 11
Barclays 11
Barclays forms a private banking joint venture with Mitsui Banking and Nikko Cordial Securities 11
BNP Paribas 12
BNP Paribas Wealth Management to restructure its business’ governance 12
BNY Mellon 12
BNY Mellon awarded banking license in Beijing 12
Commerzbank 13
Commerzbank completes the sale of Kleinwort Benson 13
Vontobel 14
Vontobel Group consolidates its banking services in Germany 14
Staffing 15
Bank of America 15
Bank of America appoints Mark Rosen 15
BNP Paribas 15
BNP Paribas Personal Investors announces a new appointment 15
Credit Suisse 15
Credit Suisse makes senior private banking appointments for ultra-HNWs in Asia 15
Morgan Stanley 16
Morgan Stanley appointed James J. Tracy as chief operating officer of distribution and development in wealth management in the US 16
Douglas J. Ketterer appointed as head of Morgan Stanley Private Wealth Management in the US 16
Société Générale 17
Société Générale appoints Hsiao-Yun Lee as CEO for its private banking division 17
Société Générale announces the appointment of the head of its representative office in Abu Dhabi 17
Société Générale Private Banking targets Latin American clients by creating a new role 17
Union Bancaire Privée 18
Union Bancaire Privée announces the appointment of the managing director of its private banking division 18
Appendix 19
Methodology 19
Further reading 19
Ask the analyst 19
Datamonitor consulting 19
Disclaimer 19
