PrivateBanking News & Analysis
4 articles
Market Mood
Barclays Appoints Yee-Yeong as Private Bank Head in Asia
Barclays has appointed Wee Yee-Yeong as the head of its private bank for Singapore and Asia, effective later this year. Yee-Yeong will oversee private banking operations in Singapore and implement a regional strategy for international Asian clients. He has over 20 years of experience in wealth management and previously served as CEO of Morgan Stanley's Singapore wealth management business. This appointment follows the recent launch of Barclays' Singapore booking center and aims to strengthen the bank's growth ambitions in Asia Pacific (BARC).
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Deutsche Bank Plans Closer Asset and Private Banking Alignment
Deutsche Bank is exploring options for closer cooperation between its asset management and private banking divisions. This potential move may follow the discretionary portfolio management partnership announced in February 2023. Discussions took place at DWS Group's annual strategy meeting held in London. Deutsche Bank owns about 80% of DWS, and no decisions have been finalized yet as talks are still in early stages. This matters for investors as it may signal future organizational changes that could impact operational efficiency and profitability.
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HSBC (HSBC) Launches Access Platform for UHNW Clients in Singapore
HSBC Private Bank has launched the HSBC Access platform in Singapore, providing institutional-style investment options for ultra-high net worth (UHNW) individuals and family offices. This marks the second location for the offering after Hong Kong. The platform allows qualifying clients to access venture capital funds, private market products, and direct investments, which were previously available only to institutional investors. HSBC aims to connect clients with opportunities linked to high-growth innovation businesses. This matters for investors as it expands access to private investment opportunities in Singapore's growing market.
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Vontobel (VON) to Open Düsseldorf Branch in 2026 for Wealthy Clients
Vontobel (VON) has announced plans to open a new office in Düsseldorf in 2026, aimed at serving wealthy private clients and family offices in North Rhine-Westphalia. Currently, private banking services in Germany are provided from Munich and Hamburg, with the firm operating for over 70 years. The office will complement Vontobel’s existing network, supported by over 300 investment professionals globally, and follows the previous acquisition of IHAG Privatbank’s client book to enhance its presence in the DACH region. As of 2025, Vontobel reported more than €130 billion ($150.2 billion) in assets under management for private clients.
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