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; Wealth; Succession; Family; Next generation; Asian Studies; Business Administration, Management, and Operations
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/5391
• Institution: Singapore Management University

This study examines thefactors that have been commonly cited by relevant literatures as the keydrivers of success in private banking. With finite resourcesto address a highly attractive but increasingly competitive market, it isimperative that management ascertains the most critical success factors as theyattempt to build solid and sustainable businesses in Asia. A total of nine private bankers, representing across-section of bankers with varying experiences and organization platforms,were interviewed. The study highlights the need for management to addressstrategic issues in Asia, including the adoption of a clear strategy of thesegment of the target market to address in a highly fragmented market;espousing an attitude that the recruitment, training, motivation and retentionof high quality human resource is a key competitive tool; and addressing thedemands of a rapidly changing environment