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Wealth Management Competitor Tracker: March 2012

This publication has been discontinued on June 20, 2012.


The Wealth Management Competitor Tracker follows the developments of 100 wealth managers and their associated brands globally. Produced monthly, it covers product innovation, customer targeting, M&A, partnerships, organic growth, and staffing.



The Wealth Management Competitor Tracker follows the developments of 100 wealth managers and their associated brands globally. Produced monthly, the tracker is based on press releases and reported news stories. It covers product innovation, customer targeting, M&A, partnerships, organic growth, and staffing. Competitors tracked include: Barclays Wealth, J.P. Morgan, and Bank of Montreal.


  • Gain invaluable information on competitors in one concise document; identify long-term trends using the Excel database.
  • Sharpen your strategy by implementing the best market, product, competitor and strategic developments of leading players from around the world.
  • Learn the Datamonitor Wealth & Investments Team's view on the most important competitor developments in the month.


  • There were a total of 69 developments in March, much higher than the 45 in February, making it the third most active month in the last 12 months.
  • Staffing developments contributed 45% of activity in March, while product innovation and customer targeting contributed 43%. M&A, partnerships, and organic growth had a muted month, contributing only 12%. Notable staffing developments during the month included a number of senior management changes at Societe Generale Private Banking.
  • The most active region for developments in March 2012 was Western Europe, which accounted for 38% of all activity. Key stories from the region included the launch of a kick-out fund by Banif, the Spanish private banking subsidiary of Santander, and the sale of EFG International's remaining stake in Marble Bar Asset Management in the UK.


  • What product and customer servicing innovations are wealth managers launching around the world?
  • Where is the competition expanding and opening new offices and branches?
  • Which companies are recruiting new wealth management staff and where?
  • What are the levels of M&A and organic growth activity by region?



  • Catalyst
  • Summary
  • Methodology


  • The Wealth Management Competitor Tracker provides both one-month and 12-month views of developments
  • As of January 2011, Datamonitor tracks the most relevant announcements from 100 competitors
  • As of January 2012, Datamonitor also tracks a selection of wealth management technology companies
  • Datamonitor's Wealth and Investments Team provides analysis of the key developments at one-month and 12-month intervals
  • A fully searchable database covering the past 12 months of developments is also delivered alongside the report


  • Notable developments within the wealth management industry in March
  • Product innovation and customer targeting: Banif Banca Privada has further expanded its product offering to Spanish high net worth (HNW) individuals
  • M&A, partnerships, and organic growth: Julius Baer has opened an office in Tel Aviv, joining UBS in the growth market
  • Staffing: Societe Generale Private Banking has made a number of senior appointments
  • After a lull in February, competitor activity picked up in March
  • There were a total of 69 developments in March
  • Developments in staffing, product innovation, and customer targeting dominated activity in March
  • Western Europe accounted for 38% of the competitor developments in March
  • Deutsche Bank, RBS, and Citigroup were the three most active companies in March


  • Agricultural Bank of China (ABC)
  • China: ABC provides new research to HNW clients on asset allocation, March 2012


  • Australia: ANZ Private and ANZ Trustees launch Wealth Presence, a lifelike video meeting tool, March 2012
  • China: ANZ becomes the first Australian bank to receive a retail renminbi license in China, March 2012
  • Bank of America
  • US: Bank of America and Vital Voices Global Partnership launch global ambassadors program for rising women in emerging markets, March 2012
  • US: Merrill Lynch Wealth Management announces new mobile features, March 2012
  • Bank of East Asia (BEA)
  • Hong Kong: BEA announces exclusive offers for new SupremeGold customers, March 2012
  • Barclays
  • UK: Barclays Wealth launches intermediary discretionary fund management service, March 2012
  • BMO Financial
  • Canada: Bank of Montreal releases book on succession planning, March 2012
  • Citigroup
  • India: Citibank is targeting growth among the emerging affluent with Citibanking, March 2012
  • South Korea: Citibank targets middle income earners, March 2012
  • Commonwealth Bank
  • Australia: Colonial First State launches its Investment Specialist Series, March 2012
  • Deutsche Bank
  • Germany: Sal. Oppenheim promotes exhibition at modern art museum in Duisburg, March 2012
  • Fidelity
  • Global: Fidelity launches fund to tap population trends, March 2012
  • US: Fidelity introduces mobile check deposit for its iPad app, March 2012
  • Investec
  • UK: Investec launches the FTSE 100 6 Year Kick-Out Plan 1, March 2012
  • Lazard
  • US: Lazard Asset Management launches a global fixed income fund, March 2012
  • Maybank
  • Asia Pacific: Maybank launches regional Diamante program for HNW clients, March 2012
  • Morgan Stanley
  • US: American Express and Morgan Stanley announce co-brand cards created exclusively for Morgan Stanley Smith Barney clients, March 2012
  • US: Morgan Stanley Smith Barney to provide financial advisors with expanded information on US municipal bonds, March 2012


  • Australia: MLC launches interactive contribution cap calculator, March 2012
  • Old Mutual
  • UK: Fairbairn Private Bank has widened access to discretionary investment management, March 2012
  • Pictet
  • Global: Pictet launches Pictet-Global Flexible Allocation fund, March 2012
  • Switzerland: Pictet introduces free mutual funds iPad application, March 2012
  • Western Europe: Pictet & Cie rolls out the Avaloq Banking System in four of its European subsidiaries, March 2012
  • Precision Capital
  • UK: Brown Shipley sponsors Prince's Scottish Youth Business Trust (PSYBT), March 2012


  • UK: Coutts collaborates with the British Asian Trust and The Funding Network to raise £65,000 for five South Asian charities, March 2012
  • Santander
  • Spain: Banif launches a kick-out fund looking to benefit from the appreciation of the dollar against the euro, March 2012
  • Spain: Banif launches the tax efficient Future Income Annuity, March 2012
  • Societe Generale
  • Global: Societe Generale launches private investment banking, March 2012


  • US: UBS Wealth Management Americas launches the wealth management Research Advisory Board, March 2012



  • Australia: AMP invests in Futuro Financial Services, March 2012
  • Banco Sabadell
  • US: Sabadell to shut former Lydian office in Palm Beach Gardens, March 2012
  • Bank of East Asia (BEA)
  • China: BEA China opens seventh cross-location sub-branch in Guangdong, March 2012
  • EFG International
  • UK: EFG International sells its remaining interest in Marble Bar Asset Management, March 2012
  • Fidelity
  • India: Fidelity sells Indian mutual fund business, March 2012


  • United Arab Emirates (UAE): HSBC confirms it will buy Lloyds's UAE retail banking arms, March 2012
  • Julius Baer
  • Israel: Julius Baer opens a representative office in Tel Aviv, March 2012
  • RBC Financial
  • Global: RBC purchases RBS's African, Latin American, and Caribbean private banking assets, March 2012


  • Global: Coutts announces intended sale of its Latin American, Caribbean, and African Business to RBC Wealth, March 2012


  • Barclays
  • India: Barclays appoints director for wealth management business in India, March 2012
  • UK: Barclays has appointed a new vice president, March 2012
  • BNP Paribas
  • US: Bank of the West hires new recruit to head up investment products offering, March 2012
  • Brewin Dolphin
  • UK: Brewin Dolphin appoints a new investment manager in Cardiff, March 2012
  • Charles Schwab
  • US: Schwab recruits new head for retail branch network, March 2012
  • Citigroup
  • India: Citi India appoints Sameer Kaul as head of Citi Private Bank, March 2012
  • US: Citi Private Bank hires two from Wells Fargo, March 2012
  • US: Citi Private Bank hires private banker for UHNW individuals in Houston, March 2012
  • Credit Agricole
  • Switzerland: Credit Agricole (Suisse) appoints new chief operating officer and head of Credit Agricole private banking services, March 2012


  • Global: DBS Private Bank hires multiple personnel for its international team, March 2012
  • Deutsche Bank
  • Germany: Sal. Oppenheim cuts advisor numbers following the introduction of new performance benchmarks, March 2012
  • Global: Deutsche Bank's head of private wealth management expected to step down in May, March 2012
  • Jersey: Deutsche Bank International hires head of operational risk, March 2012
  • Switzerland: Sal. Oppenheim recruits Central and Eastern European specialist, March 2012
  • UK: Deutsche Bank Private Wealth Management adds five new hires to the Scotland team, March 2012
  • Fidelity
  • US: Fidelity rehires Anthony Rochte from State Street to head up new division, March 2012


  • Honk Kong: HSBC appointed Asia Pacific head of wealth development, March 2012
  • Julius Baer
  • Switzerland: Raymond J. Baer to assume role of honorary chairman of Julius Baer and Daniel J. Sauter nominated as new chairman of the board of directors, March 2012


  • Singapore: Bank of Singapore expands its Indonesia private banking team, March 2012
  • Old Mutual
  • Jersey: Fairbairn Private Bank expands Jersey team, March 2012
  • Rathbones
  • UK: Evangelos Assimakos joins Rathbones Edinburgh office, March 2012
  • UK: Rathbones expands with three new hires, March 2012


  • Singapore: Coutts appoints Asia chairman, March 2012
  • UK: Coutts appoints Jennifer Mathias as chief financial officer, March 2012
  • Singapore: Coutts appoints Errol D'Souza as chief risk officer for Asia, March 2012
  • Rothschild
  • Switzerland: Rothschild further expands its international wealth management business in Zurich, March 2012
  • Guernsey: Rothschild Trust Guernsey cuts staff by third, March 2012
  • Societe Generale
  • Global: Societe Generale appoints new head and deputy head of private banking, March 2012
  • Global: Societe Generale Private Banking appoints new head of commercial and marketing, March 2012


  • US: UBS Wealth Management Americas makes leadership changes, March 2012
  • Vontobel
  • Switzerland: Vontobel appoints Georg Schubiger as the new head of private banking, March 2012


  • Methodology
  • Further reading
  • Bibliography
  • Ask the analyst
  • Disclaimer


  • Table: Datamonitor's Wealth Management Competitor Tracker covers the following 100 companies
  • Table: Datamonitor also tracks seven wealth management technology providers


  • Figure: March was the third most active month for competitor developments in the last 12 months
  • Figure: M&A, partnerships, and organic growth developments were muted in March 2012
  • Figure: Once again March was characterized by a large proportion of developments in Western Europe
  • Figure: Deutsche Bank, RBS, and Citigroup were the most active brands in March 2012
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