On The Origin of Wealth

Fong Seng Tee, CEO, Pictet Wealth Management Asia Wealth management business in Asia has changed a lot in the past 15-20 years and is still evolving. There are changes. In the past it was “Don’t ask me where I got my money. The less you know, the better.” The theory of Don’t Ask, Don’t Tell, (more…)

On The Changing Nature of Wealth

Asia X Japan is forecasted to generate around $22 trillion of new financial wealth from 2020 to 2025. This is just slightly below to North America region around $25 trillion. The Chinese middle-class population is today larger than the entire US population. In India, we are seeing a massive expansion of wealth pools. Hong Kong (more…)

AllianzGI setting asset management venture in China

Who: The German insurer’s main asset management arm, Allianz Global Investors (AllianzGI), which has 578 billion euros ($574.5 billion) in assets under management What: Holding discussions with Industrial Bank and China CITIC Bank on setting up a majority-owned asset management venture. The two banks’ wealth management units had 1.8 trillion yuan ($263.20 billion) and 1.4 (more…)