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Monday, February 28, 2011
IFC Review - The rise of the Asian millionaire
According to the Boston Consulting Group's Global Wealth Report 2010, high net worth individuals in the Asia-Pacific tend to keep their wealth close to home. Those who keep their money offshore park it in Singapore and Hong Kong, eschewing the traditional Swiss havens. The emergence of Singapore and Hong Kong as key hubs for the private banking sector is partly a result of the increased wealth in the region, as well as the tightening of regulations in Europe and the US. It is no wonder that global private banking players are tripping over themselves to set up shop here in Asia. Read more... posted by Charles Monat Associates at 10:56 AM
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