A Qualitative Study on the Challenges of Private Banking in Asia

• Main Author: ANG, Ser Keng
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2010
• Subjects: Private Banking Asia; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/3065; https://doi.org/10.3905/JWM.2010.12.4.068
• Institution: Singapore Management University

This study examines the factors that have been commonly cited by relevant literature as the key drivers of success in private banking. With finite resources to address a highly attractive but increasingly competitive market, it is imperative that management ascertains the most critical success factors as they attempt to build solid and sustainable businesses in Asia. A total of nine private bankers, representing a cross-section of bankers with varying experiences and organization platforms, were interviewed. The study highlights the need for management to address strategic issues in Asia, including the adoption of a clear strategy of the segment of the target market to address in a highly fragmented market; espousing an attitude that the recruitment, training, motivation and retention of high quality human resource is a key competitive tool; and addressing the demands of a rapidly changing environment.