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Home > Market Research > Financial Services > Wealth Management Competitor Tracker, November 2008
Introduction
This monthly tracker covers product innovation, customer targeting, M&A, partnerships, organic growth, and staffing activity globally in the wealth management space.
Reasons to Purchase
*Track the strategies announced by 50+ of your key competitors.
*Assess which geographies and strategic areas are seeing the most activity
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Table of Contents
Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Introduction 3
The Wealth Management Competitor Tracker provides both one month and 12 month views of developments 3
Each month, Datamonitor tracks the most relevant announcements from 57 competitors 3
Datamonitor's Wealth Management Team provides analysis of the key developments at both the one month and 12 month level 4
A fully searchable database of the past 12 months of developments is also delivered alongside the report 4
Key Trends and Developments in November 5
There were some notable developments within the wealth management industry during November 5
Bank of America receives Federal Reserve approval for Merrill Lynch purchase 5
Banca Monte Dei Paschi board approves guidelines for Banca Toscana merger 6
Merger between Westpac and St.George approved 6
International companies are expanding their operations into emerging markets 6
In November, activity in the wealth management market rebounded slightly 7
There were a total of 22 competitor developments in November 7
M&A and staffing activity dominated the wealth market in November 8
Europe and Asia continued to be the main regional hubs for the wealth market 9
Product innovation and customer targeting 10
Citigroup 10
Citibank Singapore launches innovative global home financing solution for affluent clients 10
M&A, Partnerships and Organic Growth 11
Bank of America 11
Bank of America to exercise remainder of China Construction Bank option 11
Bank of America receives Federal Reserve approval for Merrill Lynch purchase 11
Citigroup 11
DBS 12
DBS has extended presence in China's private banking market 12
Deutsche Bank 12
Deutsche Bank announces planned opening of a new representative office in Switzerland 12
Monte Paschi di Sienna (MPS) 12
Banca Monte Dei Paschi board approves guidelines for Banca Toscana merger 12
OCBC 13
OCBC Bank establishes a Malaysian Islamic subsidiary, OCBC Al-Amin 13
Pictet & Cie 13
Pictet & Cie has announced plans to grow its business in GCC countries 13
St.George Bank (SGB) 14
Merger between Westpac and St.George approved 14
Standard Chartered 14
Standard Chartered to acquire Lehman Brothers team and fixed assets in Brazil 14
Unicredit 14
UniCredit finalises the disposal of 183 branches to 13 banks 14
Staffing 15
Credit Suisse 15
Christophe Racine named new head of private banking for Northern Switzerland 15
Clariden Leu appoints two new executive board members 15
Deutsche Bank 15
Ari Makela joins Deutsche Bank as managing director for Nordic coverage in global banking 15
Deutsche Bank appoints new head of Private Wealth Management UK 16
Deutsche Bank appoints Hanspeter Danuser to help establish new office in Switzerland 16
Mellon Financial Corp. 16
BNY Mellon Wealth Management hires head of private lending 16
Northern Trust 17
Northern Trust appoints President of San Diego Region 17
RBC Financial Group 17
RBC Wealth Management announces leadership changes 17
Standard Chartered 17
Standard Chartered to acquire Lehman Brothers team in Brazil 17
UBS 17
UBS bolsters wealth management team in Asia with a series of key hires 17
Appendix 19
Methodology 19
Further reading 19
Ask the analyst 19
Datamonitor consulting 19
Disclaimer 19
List of Tables
Table 1: The 57 companies covered by Datamonitor's Wealth Management Competitor Tracker 3
List of Figures
Figure 1: November marked an increase in total developments over the previous month 7
Figure 2: M&A and staffing developments accounted for the majority of activity for the month 8
Figure 3: Europe and Asia continued to see the majority of wealth management activity 9
For full details, please email keithw@cmsinfo.com
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