Wealth Management Competitor Tracker: December 2010

Introduction

The Wealth Management Competitor Tracker provides expert analysis and opinion on the strategic moves of leading competitors in the wealth management space. Produced on a monthly basis, the Tracker is a global product and covers over 50 players, including Barclays, Credit Suisse, Citigroup, DBS, Julius Baer and Vontobel.

Features and benefits

• Gain invaluable information on your key competitors in one concise document, and track long-term trends using the interactive news database.
• Sharpen your strategy by implementing the best market, 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.

Highlights

Activity in the wealth management industry maintained a steady pace in December, with a total of 25 competitor developments recorded. This represented a decline on numbers for November, but was still in line with the 12 month average of 25, despite an anticipated Christmas-related lull in some parts of the world.

A high level of staffing developments accounted for 14 out of the total of 25 stories, which was well above the 12 month average for this category. Many of these were accounted for by a series of senior management changes following on from end of year board meetings.

Examples of competitor developments from December include the news that Deutsche Bank has found a buyer for BHF Bank in the form of LGT, while on the customer targeting side, Credit Suisse announced the creation of a family office hub out of Singapore.

Your key questions answered

• Which competitors have experienced the most staffing changes over the last year?
• Where is the competition expanding their presence and opening new branches?
• Which geographies have experienced the most competitive activity over the last month and year?

Table Of Contents

OVERVIEW
Catalyst
Summary
Methodology

INTRODUCTION
The Wealth Management Competitor Tracker provides both one month and 12 month views of developments
Each month, Datamonitor tracks the most relevant announcements from 53 competitors
Datamonitor’s Wealth and Investments Team provides analysis of the key developments at one month and 12 month levels
A fully searchable database covering the past 12 months of developments is also delivered alongside the report

KEY DEVELOPMENTS IN DECEMBER
Notable developments within the wealth management industry in December
Singapore: Credit Suisse announces plans to open a family office hub in Singapore
Germany: Deutsche Bank agrees to sell BHF Bank
France: Crédit Agricole announces new head of private banking
Wealth activity was down in December compared to November, but was still in line with the 12 month average
There were a total of 25 developments in December
Staffing developments accounted for the majority of developments
32% of competitor developments took place in Western Europe

PRODUCTS, INNOVATION, AND CUSTOMER TARGETING
Credit Suisse
Singapore: Credit Suisse announces plans to open a family office hub in Singapore
Deutsche Bank
UK: Deutsche Bank Private Wealth Management announces the launch of a Global Private Markets team
Morgan Stanley
US: Morgan Stanley Smith Barney announces 2010–11 philanthropy gift catalogue

M&A, PARTNERSHIPS, AND ORGANIC GROWTH
Citigroup
China: Citibank opens a new branch in Shenzhen
US: Citibank opens smart-banking branch in Union Square
Crédit Agricole
Belgium: Crédit Agricole Luxembourg announces creation of Credit Agricole Van Moer Courtens
DBS
Asia: DBS announces plans to strengthen its brand in Asia
China: DBS to acquire retail and commercial banking portfolios of RBS
Deutsche Bank
Germany: Deutsche Bank agrees to sell BHF Bank
Julius Baer
Italy: Julius Baer opens office in Rome
Northern Trust
US: Northern Trust announces the acquisition of Waterline Partners

STAFFING
Barclays
US: Barclays Wealth announces the appointment of a director and regional manager for its Palm Beach office
US: Barclays Wealth announces regional expansion by appointing seven investment representatives
UK: Barclays Wealth announces appointment of senior private bankers
BNP Paribas
Belgium: BNP Paribas Fortis announces appointment of CEO
Crédit Agricole
France: Crédit Agricole announces new head of private banking
Deutsche Bank
Netherlands: Deutsche Bank announces new chief country officer for the Netherlands
HSBC
International: HSBC announces top management appointments
Julius Baer
Switzerland and Egypt: Julius Baer announces changes in the Middle East
OCBC
Hong Kong and Singapore: Bank of Singapore announces senior appointments
RBS
UK: Coutts & Co has recruited a new private banker to its team in Devon
UK: Coutts & Co announces the appointment of head of shipping wealth
Santander
US: Santander proposes new chief executive for US business
Sarasin
Switzerland: Bank Sarasin announces expansion strategy for Switzerland
Vontobel
International: Vontobel announces new chief executive officer for the group

APPENDIX
Methodology
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer

TABLES
Table: The 55 companies covered by Datamonitor’s Wealth Management Competitor Tracker

FIGURES
Figure: Competitor activity in December was in line with the 12 month average
Figure: There were a higher than average number of staffing developments in December 2010
Figure: Western Europe accounted for the majority of wealth management competitor developments in December