Studie - Wealth Management Competitor Tracker: February 2011

Introduction

The Wealth Management Competitor Tracker provides expert analysis and opinion on the strategic moves of leading competitors in the wealth management space. Produced on a monthly basis, the Tracker is a global product and covers 100 players across Asia-Pacific, Europe, the Middle East & Africa, North America and South America. Competitors tracked include Barclays, Scotiabank and Citibank.

Features and benefits

* Gain invaluable information on your key competitors in one concise document, and track long-term trends using the interactive news database.
* Sharpen your strategy by implementing the best market, product, competitor and strategic developments of leading global players.
* Learn the Datamonitor Wealth & Investments Team's view on the most important competitor developments in the month.

Highlights

Activity in the wealth management industry was limited in February, with a total of 34 competitor developments recorded among the 100 wealth managers tracked. This represents a fairly low level of activity compared to the same period last year.
Announcements concerning staff hires and appointments contributed to the majority of activity in February, accounting for 19 developments out of the total 34. Within the staffing category Barclays Wealth was the most active wealth manager accounting for three of the total announcements, reflecting a push to expand in the UK.
Western Europe accounted for 41% of the competitive developments that took place in February, which equates to 14 of the month's total. This is an increase on January's figure and above average for the region. The top category for competitive developments in Europe was staffing announcements.

Your key questions answered

* Where is the competition expanding their presence and opening new branches?
* Which competitors have experienced the most staffing changes over the last year?
* What new products and customer targeting strategies are my competitors using?

OVERVIEW

Catalyst

Summary

Methodology

INTRODUCTION

The Wealth Management Competitor Tracker provides both one-month and 12-month views of developments

As of January 2011, Datamonitor now tracks the most relevant announcements from 100 competitors

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

KEY DEVELOPMENTS IN FEBRUARY

Notable developments within the wealth management industry in February

Scotiabank completes its acquisition of DundeeWealth

Citigroup rolls out more Citigold to Asia Pacific

Barclays Wealth continues its hiring spree, focusing on the UK

Wealth management competitors were more active in February

There were a total of 34 announcements in February, an increase on the dip in January

Staff announcements accounted for the majority of activity in February

Europe was the location for the majority of announcements in February, accounting for 41% of the total

PRODUCT INNOVATION AND CUSTOMER TARGETING

ABN Amro

UK: ABN Amro rebrands private banking operations in Guernsey, January 2011

Bank of America

US: Bank of America partners with Eurasia Group to give global political risk analysis to wealth management clients, February 2011

Citibank

Philippines: Citigold introduces wealth management services to Davao, January 2011

Thailand: Citigold announces a wealth management event for affluent clients in Thailand, January 2011

Lloyds Banking Group

[Missing title]

National Australia Bank

Australia: MLC & NAB Wealth launches a new investment platform, January 2011

Australia: MLC & NAB Wealth announces a new team for retirement products, February 2011

Santander

UK: Cater Allen introduces a new structured product, February 2011

M&A, PARTNERSHIPS, AND ORGANIC GROWTH

ABN Amro

France: Neuflize OBC Bank expands its wealth management presence in Marseille, January 2011

Citibank

US: Citi announces the opening of a new branch in Guam, January 2011

HSBC

US: HSBC opens a new center in San Diego, February 2011

National Bank of Abu Dhabi

US: National Bank of Abu Dhabi opens a new office in Washington, February 2011

Sarasin

Singapore: Sarasin announces the launch of a trust company in Singapore, February 2011

Scotiabank

Canada: Scotiabank acquires DundeeWealth after buying outstanding shares, February 2011

Société Générale

UK: Société Générale announces the acquisition of Baring Asset Management , February 2011

STAFFING

Bank of Queensland

Australia and New Zealand: Bank of Queensland announces the appointment of a new director, February 2011

Barclays Wealth

UK: Barclays Wealth appoints head of strategic solutions, February 2011

UK: Barclays Wealth announces the appointment of the head of its wealth advisory division in Guernsey, February 2011

UK: Barclays Wealth appoints Markus Stadlmann as head of discretionary investing, February 2011

BNY Mellon

US: BNY Mellon wealth management appoints regional president, February 2011

US: BNY Mellon Wealth Management announces the appointment of senior director of portfolio management, February 2011

Deutsche Bank

UK: Deutsche Bank private wealth management announces a new global head of cash products, February 2011

Germany: Sal. Oppenheim appoints advisors and management team at its head office, February 2011

HSBC

US: HSBC appoints new regional president to the West coast, February 2011

JPMorgan Chase

US: JPMorgan Chase appoints Irene Tse as North America chief investment officer, January 2011

Lazard

US: Gerald Rosenfeld rejoins Lazard as vice chairman and strategic advisor, February 2011

Lombard Odier Darier Hentsch

Asia Pacific and Japan: Lombard Odier appoints regional head of Asia Pacific and Japan, February 2011

Morgan Stanley

US: Harold Ford joins Morgan Stanley as managing director, February 2011

RBS

UK: Coutts & Co announces expansion in Birmingham with its new client partner, February 2011

Reyl

Switzerland: Reyl appoints two new directors to its board, February 2011

Switzerland: Reyl & Cie Group announces its expansion in Singapore with appointments for the Asian market, February 2011

Société Générale

France: Société Générale Private Banking announces a new chief executive officer for Monaco, February 2011

UBS

Switzerland: UBS Wealth Management announces William Kennedy as head of investment products and Services, February 2011

Union Bancaire Privée

Asia: Union Bancaire Privée announces Stephan Repkow as head of private banking in Asia, February 2011

APPENDIX

[Missing title]

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

• 2020 Foresight Report: No Safe Havens – Changes in Offshore Private Banking
• Mexico 2013 Wealth Book: Trends in Millionaire Wealth
• 2020 Foresight Report: No Magic Bullet - Wealth Management Models
• Challenges and Opportunities for the Wealth Sector in Israel 2013
• High Net Worth Trends in Israel 2013
• HNWI Asset Allocation in Israel 2013
• Israel 2013 Wealth Book: Trends in Millionaire Wealth
• Ultra HNWIs in Israel 2013
• 2020 Foresight Report: Branding and Segmentation in Wealth Management
• 2020 Foresight Report: Social Media in Wealth Management
• The Family Office Report 2013
• Canada 2013 Wealth Book: Land of the Tar Sands
• Challenges and Opportunities for the Wealth Sector in Canada 2013
• Challenges and Opportunities for the Wealth Sector in Turkey 2013
• High Net Worth Trends in Canada 2013
• High Net Worth Trends in Turkey 2013
• HNWI Asset Allocation in Canada 2013
• HNWI Asset Allocation in Turkey 2013
• Turkey 2013 Wealth Book: The Jewel of Asia
• Ultra HNWIs in Canada 2013