CORRECTING and REPLACING Private Banker International: Assets Under Management Up 89% In Top 20 Asia-Pacific Banks

UBS is still the leading high net worth wealth manager in Asia-Pacific with Citi close behind and HSBC ranked third according to a new report by Private Banker International

LONDON--(BUSINESS WIRE)--Please replace the release dated 5 October 2011 with the following corrected version due to multiple revisions.

The corrected release reads:

PRIVATE BANKER INTERNATIONAL: ASSETS UNDER MANAGEMENT UP 89% IN TOP 20 ASIA-PACIFIC BANKS

UBS is still the leading high net worth wealth manager in Asia-Pacific with Citi close behind and HSBC ranked third according to a new report by Private Banker International

Private Banker International’s Top 20 Asia-Pacific Benchmark, a survey of the region’s leading private banks released today reveals that assets under management (AuM) held by the Top 20 Asia-Pacific banks has increased by 89% to over $1trillion since the last survey of its kind in 2007.

The study, which ranked banks by AuM for HNW clients with investable assets of more than $1m, shows that global banks dominate the top spots. UBS was ranked as the leading HNW wealth manager in the region followed by Citi, and HSBC comes a close third creating a three horse race for the claim of the Asia-Pacific region’s leading private bank. Local banks too are making progress with DBS, OCBC’s Bank of Singapore and Hang Seng Bank claiming market positions of 10^th, 11^th and 14^th respectively.

Nicholas Moody, editor of Private Banker International comments: “This latest survey shows how dramatically the industry’s landscape has shifted in the post-financial crisis years. One of the most interesting aspects is the success retail banks have had in nurturing a pipeline of wealthy clients through their affluent banking channels. Private banks without a steady stream of clients from retail banking franchises are focusing on increasing market share through hiring initiatives and improving their share of wallet among existing customers.”

Top 20 Asia-Pacific Benchmark identifies and examines in detail the core strategies for sustainable private banking growth in the region including:

• Private banks, especially foreign private banks, are shifting their wealth thresholds down and designing new product offerings to chase the region’s future wealthy clients focused on the $1-$5m band
• Hiring initiatives and intensive training programmes are being used to attract and train new relationship managers as well as retain existing talent
• More integrated services between wealth management and corporate investment banking are being created to improve client share-of-wallet, particularly in the $5m-plus entrepreneur-business owner segment.

For further details on the Top 20 Asia-Pacific Benchmark Survey please contact Allan Sahbani on [e-mail] or call :[phone]