Private Banking and Wealth Management

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1 The 2012 guide to September 2012 Private Banking and Wealth Management covers.indd 1 Published in conjunction with: Akbank Private Banking ICBC Private Banking UBS 05/09/ :19

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3 Contents The global emergence of ICBC 2 Private Banking ICBC Private Banking Meeting the highest expectations 6 Akbank Capitalizing on UBS 8 investment intelligence UBS This guide is for the use of professionals only. It states the position of the market as at the time of going to press and is not a substitute for detailed local knowledge. Euromoney Trading Limited Nestor House Playhouse Yard London EC4V 5EX Telephone: Facsimile: / 8345 Directors: Padraic Fallon (chairman and editor-in-chief), Sir Patrick Sergeant, The Viscount Rothermere, Richard Ensor (managing director), Neil Osborn, Dan Cohen, John Botts, Colin Jones, Diane Alfano, Christopher Fordham, Jaime Gonzalez, Jane Wilkinson, Martin Morgan, David Pritchard, Bashar Al-Rehany Editor: Philip Ayres Director of research guides: Soledad Contreras Cover illustration: Ray Heath Printed in the United Kingdom by Wyndeham Group Euromoney Trading Limited 2012 Euromoney is registered as a trademark in the United States and the United Kingdom. 210x286Contents.indd 1 05/09/ :20

4 The global emergence of ICBC Private Banking Steadfast in its commitment to providing a full range of customized financial services for its growing client base, China s leading private bank is turning its sights on the global market ICBC Private Banking (ICBCPB), established on 27 March 2008, is the first private banking institution authorized by the China Banking Regulatory Commission. The bank offers a full range of financial services to highnet-worth individuals (HNWIs) with financial assets above RMB8 million. Its integrated, professional and innovative financial services combine individuals and corporates, investing and financing, both onshore and offshore. Chosen as the best private bank in China by Euromoney, Financeasia and The Asian Banker, ICBCPB has solidified its reputation with the industry and clients for its excellent performance. Solid strength that leads the industry Given recent global and domestic financial fluctuations the spread of the debt crisis in Europe and the tendency towards economic downturn in Mainland China, leading to tighter regulation of the real estate market and recession in the stock market ICBCPB faces a number of significant challenges from the overseas market. However, these uncertainties have led to private banking clients, nearly six times more than when it opened just four years ago. Its assets under management (AUM) exceeded RMB470 billion as of the first quarter of 2012, over six times larger than when the business was launched. In terms of its client network and AUM, it remains the leading private bank in China. Extensive local and global network Headquartered in Shanghai, ICBCPB has an extensive network throughout Mainland China, including 10 branches in major cities such as Beijing, Shanghai, Guangzhou and Shenzhen, which are directly managed by headquarters. In addition, it also has almost two dozen private banking centres set up in other regions to cater to its growing client base. By the end of this year, ICBCPB will have set up private banking centres in all major areas of Mainland China. Having established a strong presence throughout China, ICBCPB has its sights on even greater growth ahead. Last December, ICBCPB established its private banking centre in Hong Kong under ICBC Asia. Now, the bank Despite its short history, China s private banking industry has experienced astonishing development the fact that a great amount of money is flowing back to the giant banks, like ICBC. By investing their money in a professional institution, clients maintain and add to their wealth. has plans to launch its business in Europe, the Middle East and Singapore, endeavouring to forge its overseas business. Overseas centres will serve three types of clients: clients from Mainland China with foreign assets who Despite its short history, China s private banking industry has experienced astonishing development. Even if there is fierce competition and similarity in the products and services provided by different private banks, ICBCPB, as a frontrunner in the industry, endeavours to cater for its clients personalized demands by consolidating all the privileged resources of the ICBC Group. Client numbers and Assets under Management Q AuM (rhs) Clients (lhs) The bank has continued to excel by following a series of strategic measures. Firstly, aided by the global outreach of ICBC, its private banking wing can skillfully allocate clients assets at a worldwide level. Secondly, by cooperating with institutions inside and outside of the ICBC Group, such as ICBC Credit Suisse, ICBC Asia, investment banks and trust companies, ICBCPB designs solutions that cover both investing and financing. Thirdly, along with selected third-party financial partners, ICBCPB offers exclusive private banking products as an agent or advisor. Number of clients Q AuM (bn RMB) By the end of the first quarter of 2012, ICBCPB had amassed over 25,000 Source: ICBC Private Banking ICBCI_PB_v3.indd 2 05/09/ :21

5 are willing to invest overseas; overseas Chinese clients who recognize the ICBCPB brand, and foreigners who hope to share in China s growth dividends by investing in the country. The new strategy will cover four integral sections of overseas private banking services, including commercial banking, asset management, investment banking and value-added services. Core strategy that focuses on the clients In terms of delivering financial services to its clients, it is well known that ICBC is an expert in researching economic trends and market strategies. The bank s prediction of the market is based on its profound knowledge of national policy and economic trends. Experts at ICBCPB have seized almost every market opportunity and have innovatively launched investment products of great market competitiveness. ICBCPB delivers five categories of services - financial management services, asset management services, advisory services, value-added services and overseas financial services - to cater to the different needs of private banking clients such as private entrepreneurs, corporate top management, professional investors and celebrities. A series of innovative investment products with steady and comparatively higher profitability attract more clients. This explains how, in 2011, ICBCPB experienced an increase of nearly 158% in investment portfolio growth compared to that of the previous year. Powerful IT infrastructure that supports the system In terms of IT, ICBCPB has an extensive IT infrastructure in place to stay ahead of its competitors. With the aid of powerful group resources, ICBC has developed an exclusive CRM system, sales system and asset management system for the private banking division. The bank has allocated a large amount of resources to maintain and upgrade its innovative IT systems, empowering staff to keep better track of client information at all times. ICBCPB intends to open up an exclusive sector on ICBC e-banking, allowing clients to enjoy self-service. At the same time, it is dedicated to the management of the communication model between the bank and clients, by promoting interactive functions among the call centre, SMS platform and ipad apps. Unified professional team As the world s biggest bank in terms of market value and China s largest commercial bank, ICBC is equipped to attract talents from everywhere with its qualities as a giant financial institution. Meanwhile, private banking, unlike commercial banking, is a fledging industry in China, from which staff can experience and learn a lot. ICBCPB has recruited professional staff both inside and outside the bank. Their expertise include banking, securities, funds, insurance, currency Having established a strong presence throughout China, ICBCPB has its sights on even greater growth ahead Besides, ICBCPB endeavours to offer a wide range of exclusive valueadded services that help to build clients high-quality personal life. Examples include private health care arrangements, high-end forums, golf tournaments, arts and fashion activities, wealth management courses for children, philanthropic events and bespoke magazines. Business transformation that accords with the times Along with the growing client base, ICBCPB is now actively exploring approaches to business transformation. Its focus not only lies in the expansion of scale, but also client structure and segmentation. The bank is determined to attract core private banking clients by its outstanding expertise, brand and market influence. More specifically, the bank tailor-makes services to ultra-hnwis (with AUM above RMB20 million) by integrating ICBC Group s channels, products and services. It is exploring a new approach of becoming a comprehensive solution provider of financial services, by shifting its role from selling products to providing solutions that combine both investing and financing for ultra-hnwis. Such foresight has enabled ICBCPB to achieve 45% growth in the number of super-hnwis (clients whose AUM is above RMB100 million) in exchange, trusts and law. Several relationship managers and investment advisors have been awarded the Forbes Excellent Chinese Fortune Concierge and Outstanding Financial Planner over the past several years. To some extent, as the biggest private bank in China, ICBCPB offers its staff a stage to show themselves, a vision to grow together with their company and an opportunity to work with outstanding colleagues. For further information, please contact Private Banking Dept. Industrial and Commercial Bank of China Tel: (8621) Fax: (8621) F, No.24, Zhongshan Dong Yi Road, Shanghai, P.R. China ICBC The global emergence of ICBCPB 3 ICBCI_PB_v3.indd 3 05/09/ :21

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8 Meeting the highest expectations Private banking is more than simply the management of individual portfolios. High-net-worth clients have exceptional and sophisticated requirements that Akbank Private Banking is well equipped to satisfy Akbank Private Banking is the leading provider of private banking and wealth management services in Turkey, focusing on asset management and investment advisory for high-net-worth individuals and institutional investors. A strong team works closely with investment advisers, lawyers, business consultants and tax advisers. Akbank Private Banking currently manages total assets worth $15.5 billion in its nine specially located branches throughout Turkey. and personalizing customers portfolios. This group also assists customers on a daily basis for their asset management, with investment ideas and direct execution of their orders regarding FX, bonds and derivatives. At Akbank Private Banking we also deliver tailor-made portfolio management services for institutional and HNW clients in discretionary portfolio management business in collaboration with Ak Asset Management. Based on Akbank s decades of accumulated financial expertise, our vision is to become the most admired company, with the best people, constantly delivering outstanding results and our mission to provide the best private banking experience in Turkey, offering outstanding value for its stakeholders. A strong code of ethics and customer-based services are the key elements of our corporate culture. Our main objectives are to provide the best service quality to customers and to create optimal customer satisfaction, enabling clients to create a fortune, manage it, preserve it and pass it on. Sophisticated requirements Private banking is more than simply the management of individual portfolios. We serve investors who expect customized private or corporate investment alternatives beyond standard banking products and offer them integrated expertise and innovative financial services that range across multiple products, multiple institutional providers and multiple markets. The starting point for tailor-made investment is a careful analysis of each client s current needs and expectations for the future. We believe in the significance of understanding before advising and planning strategy before investing in delivery of services. To facilitate this, clients, before beginning a relationship with Akbank Private Banking, undergo a thorough assessment of their risk tolerance. Thorough understanding Following this process, investment strategies are based on a thorough understanding of clients investment needs. Customized portfolios that are created reflect clients risk and return preferences to compute their optimal portfolio strategy, based on the distinct principles of diversification, optimization and control. To maximize the efficiency of the investment process we have established a special group, the in-house Strategy and Investment Division, consisting solely of dealers, investment managers and investment researchers, which focuses exclusively on assisting the relationship managers in managing client accounts. This creates far more flexibility in constructing, enhancing Private banking customers who collect art works are supported by one of the biggest international auction institutions in the world, visiting important collections, patricipating in auctions and providing consultancy for their collections. Private sales of their pieces, rather than through auctions, is also offered. We focus on contemporary art - paying due attention to tradition - and on the educational aspects of the activities. Istanbul, as the crossroads of civilizations, acts as a bridge, with its special soul, bringing a common creative process to all aspects. Contemporary Istanbul, the modern and contemporary art event with the widest scope in Turkey, introduces the country s cultural and artistic life to the world. Akbank Private Banking, as the sponsor of Contemporary Istanbul since 2007, is recognized by the international art community for its contribution to one of the most important modern art events in Turkey. Besides the art fair facility, Contemporary Istanbul presents many side events and art projects throughout the year, from discussion panels to exhibitions. Our new growth strategy for 2013 is assessing the Middle East and Turkic republics as the new potential area for expansion abroad. Private banking marketing will be carried out in this region mainly through Akbank s Dubai representative office to serve high-net-worth Arab clients. For further information, please contact Saltık Galatalı Executive Vice President Akbank Private Banking [email protected] Akbank_PB_v3.indd 6 05/09/ :22

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10 Capitalizing on UBS investment intelligence It has never been more important for banks to offer high-quality advice and to deliver superior investment performance Clients expect clear investment information and guidance in volatile markets. At UBS, one of our key differentiators is that we are on the ground in locations all over the world, capitalizing on the full scope of our capabilities to find the best global investment opportunities for clients. Through our integrated and systematic investment process, we establish a house view that utilizes all of the critical content and know-how of experts across all divisions of UBS. In addition, we incorporate opinions of select external experts and leading investment managers. Once we have established the house view, we deliver appropriate products to match it. Product teams work closely with research specialists to incorporate the house view into our discretionary mandates, strategy funds and our advisory offering. And as the house view evolves, our investment specialists adapt the product shelf accordingly. Investment process Our investment process effectively leverages UBS s market insights, expertise, global reach and partner networks and is based on intellectual rigour, reliability and speed. Having a clear and concise investment strategy allows client advisers to have well founded and market-based advisory discussions with their clients. With the appointment of five regional chief investment officers, we strengthened our investment competencies with specific regional insights. The regional chief investment officers ensure local market consistency with the house view and oversee the local application of the global investment process. Based on the house view, UBS s Investment Products and Services unit also provides solutions for individual markets. Alexander Friedman, Global Chief Investment Officer, UBS Wealth Management deliver our investment ideas and our global firm to each client through a focused house view on the markets, tailored to each client s needs. The price and value of investments and income derived from them can go down as well as up. You may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. In the UK, UBS AG is authorised and regulated by the Financial Services Authority. We further enhanced and expanded our capabilities when we combined the research units and investment teams in UBS Wealth Management and Wealth Management Americas. With all the investment and research competencies of our business integrated into a globally coordinated unit, we are better able to produce strong investment insights and provide a more comprehensive offering for our clients. Quality of advice Clients can be confident in the quality of our advice because of our local insights into global markets. The fact that we are present in every major market means that we see financial developments around the globe real-time. We can give a clear picture of developments in Europe because of our strong presence there. Equally, we can highlight investment opportunities in China or Singapore or Mexico, where our local experts have a thorough knowledge of these regional economies. Our robust and proprietary investment process means we are able to For further information, please scan the QR code with your smartphone. For further information, please contact ab UBS AG UBS AG Postfach 1 Finsbury Avenue 8098 Zurich London EC2M 2AN Switzerland United Kingdom Tel Tel UBS_PB_v5.indd 8 05/09/ :22

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