Andy Sieg is back again from Merrill Lynch, and has big plans for Citi’s new global wealth franchise.

The great and the good have assembled again for the Global Financial Leaders investment summit in Hong Kong.

Private banking clients have begun exploring alternative asset allocation strategies in Brazil. Euromoney talks to the founders of a startup that is tapping into this demand with a strategy focused on special situations.

Continuity is likely to be the theme as incoming leader inherits a well-performing franchise, but competition in wealth management and the markets businesses, as well as a still-lacklustre environment for investment banking, will be among Pick’s challenges.

Bidding $2.5 billion for the bulk of Credit Suisse’s sub-Saharan Africa ultra-high net-worth private bank book 18 months ago has been a ‘game changer’ for Barclays in the region, the UK bank’s Africa market head Amol Prabhu tells Euromoney.

The relaxation of visa rules has turbocharged the recent flow of wealth into Dubai. The nature of these flows can, however, make them a mixed opportunity for the UAE’s private bankers.

Private foundations were once the preserve of a narrow group of the monied elite. Today, they are the fastest-growing source of private-sector philanthropy in the US and across the developed world.

BlackRock joins Allfunds initiative to distribute new variants of private equity and credit funds to wealthy individuals.

A Citi survey of family offices finds some unsurprising things to say about the worries of the wealthy – inflation, interest rates and geopolitics – but discovers a shocking lack of preparation for succession planning.

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.