HNWIs have just three or four wealth management relationships each, according to data released by consultancy Scorpio Partnership on Wednesday.

Euromoney asks the CEOs of eight of Asia’s leading private banks for their thoughts on where clients in their region will invest this year.

The region is seen as the growth engine for private banks, but it is not without its trials.

The French bank adds more than 80 private bankers and closes the gap with BNP Paribas on asset under management.

Private banks are in danger of losing a grip on what makes them attractive to the wealthy

It is not the only offshore centre, but it is the biggest. As the private banking industry moves to an onshore model, what now for the country?

Banks are targeting the mega-rich private clients of their wealth management arms to help drive their corporate and transaction services businesses by banking more of the companies their wealthy clients own.

Regulatory pressures mean private banking is less and less lucrative; the bigger players will benefit.

Asia’s new wealth is illiquid and no great source of profit; Consolidation inevitable among private banks

Few banks have navigated turbulent times so well, posting record revenues on the back of strong net inflows and rising markets.

JPMorgan Private Bank clients enjoy the best of both worlds: an intimate relationship with a US lender that is allied to the power of a genuinely global financial leader. It is led by Mary Callahan Erdoes.

In the US, JPMorgan has 55 dedicated private banking offices, from Austin to Seattle, and Cincinnati to Fort Lauderdale. Elsewhere, it focuses heavily on serving high and ultra-high net-worth customers in Europe, where it has eight offices, including the UK and Germany, Asia, through Hong Kong and Singapore, and Latin America, with clients served out of Miami, New York and Switzerland.

JPMorgan Private Bank wins this year’s top award, as well as being named the world’s best private bank for ultra-high-net-worth individuals 2023, and the world’s best private bank for investment research 2023.

The global wealth expert has expanded its vision, horizon and profits this year

The great financial innovator shone again in global wealth management.