Wealth Management Competitor Tracker, May 2009

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.

Overview 1
Catalyst 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 57 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 delivered alongside the report 4
Key Trends and Developments in May 5
There were a few notable developments within the wealth management industry during May 5
BNP Paribas acquiring Fortis Bank 5
Insinger de Beaufort merging with BNP Paribas Wealth Management 6
HSBC acquiring Bank Ekonomi 6
Dresdner Bank merging into Commerzbank 6
In May, activity in the wealth management market continued to grow 7
There were a total of 30 competitor developments in May 7
Staffing continued to account for the majority of developments in the month 8
Wealth managers were most active in European markets 9
Product innovation and customer targeting 9
BNP Paribas 10
BNP Paribas launches BNP Paribas Personal Investors' services for affluent investors in Asia and Europe 10
Commerzbank 10
Commerzbank announces strategic and operational structure for the bank's future 10
DBS Bank 10
The Islamic Bank of Asia targets Islamic investors with Sharia-compliant products 10
NAB 11
NAB private bank creates new wealth division to target high net worth and ultra high net worth clients 11
UBS 11
UBS launches internal crossing platform in Hong Kong to enhance client liquidity 11
Wells Fargo 12
Wachovia Securities changes name to Wells Fargo Advisors 12
M&A, Partnerships and Organic Growth 13
BBVA 13
Private banking and financing agreements signed between BBVA and CITIC 13
Bessemer Trust 13
Bessemer Trust opens a new office to serve wealthy families 13
BNP Paribas 13
BNP Paribas acquires Fortis Bank 13
Insinger de Beaufort merges with BNP Paribas Wealth Management 14
Commerzbank 15
Dresdner Bank merges into Commerzbank 15
Credit Suisse 15
Credit Suisse launches Private Banking operation in Japan 15
Credit Suisse and Woori Financial Group terminate their Korean alliance 15
HSBC 15
HSBC acquires an 88.89% stake in Bank Ekonomi 15
Julius Baer 16
Julius Baer announces the acquisition of Alpha SIM 16
Julius Baer divides its Private Banking and Asset Management businesses into two independent listed companies 16
Vontobel 17
Bank Vontobel Europe commences operations in Germany 17
Staffing 18
Barclays 18
Barclays Wealth appoints head of investment advisory 18
Bessemer Trust 18
Tiffany Barbara appointed as senior client account manager and principal 18
Bessemer restructures management responsibilities to accommodate client requirements 18
BNP Paribas 19
Herman Daems to be proposed as chairman of the new board of Fortis Bank 19
Commerzbank 20
Personnel restructuring on the board of management of Commerzbank 20
Deutsche Bank 20
Deutsche Bank appoints Robert Rankin as CEO of Asia Pacific 20
HSBC Bank 20
Dorothy Sit appointed head of Hang Seng China 20
Morgan Stanley 20
Gary Lynch appointed vice chairman of Morgan Stanley 20
Northern Trust 21
Northern Trust restructures leadership positions in US southwest region 21
RBS 21
RBS Group announces senior management changes 21
SEB 21
Jan Sinclair joins SEB as country manager of Germany 21
Standard Chartered 22
Standard Chartered Private Bank plans to hire 100 relationship managers 22
UBS 22
UBS names Andreas Höfert new chief economist in Switzerland 22
UniCredit Group 22
UniCredit makes changes in top management 22
 

Appendix 23
Methodology 23
Further reading 23
Ask the analyst 23
Datamonitor consulting 23
Disclaimer 23
 

List of Tables
Table 1: The 57 companies covered by Datamonitor's Wealth Management Competitor Tracker 3
 

List of Figures
Figure 1: Activity in the wealth management industry continued to increased in May 7
Figure 2: Staffing changes continued to be the most dominate category for wealth activity in May 8
Figure 3: European markets saw the majority of wealth management activity for the month 9