Foreign Correspondents Association of Singapore

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Lunch with SG Private Banking and LGT Bank (Liechtenstein)

  • 13 Jul 2004
  • Conrad Hotel
  • 12:30pm

This event is for Members only.

I�m pleased to announce that Daniel Truchi, CEO of SG Private Banking, Asia Pacific and Rolf Gerber, CEO of LGT Bank (Liechtenstein) have agreed to join us to discuss the state of private banking in Asia. According to the recent 2004 World Wealth Report published by Merrill Lynch and Capgemin, the number of High Net Worth Individuals (HNWIs) rose 30% last year in Hong Kong, while India and Korea each saw a 22% and 18% jump respectively in the number of US dollar millionaires. And according to a recent Pricewaterhousecoopers survey, private banking in Asia is expected to rake in revenue growth of 10% a year on average, with some bankers even predicting 20-30% expansion annually. The rapid growth in private banking is leading to a scramble for talent, while the market remains very fragmented. Mr Truchi and Mr Gerber will discuss their perspective on how the Asian market currently changing.

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