Singapore, the Asian private banking centre

Business with high net worth individuals, the so-called HNWI segment has always been one of the most lucrative markets for financial services providers. But the increasing difficulty of walking the tightrope between risk and return in recent years has led to sharp growth in competition in the sphere of asset management. As a result, private banking is no longer the fiefdom of Swiss banks alone. Whereas previously it was the providers themselves who fought for market share, there is now a similar global battle going on between the financial centres themselves. Switzerland continues to top the league table for management of offshore funds, according to statistics drawn...