Private bankers will need to adopt and learn as new challenges emerge, says industry veteran

SINGAPORE – Singapore is a leading Asian financial centre with assets under management (AUM) standing at over $5.5 trillion. Within this, wealth management has seen huge growth, especially over the last four years, with AUM projected to reach $265 billion in 2024.

But the industry is facing seismic changes which will require private bankers to raise their game considerably.

They will have to be better trained, more knowledgeable and nimble to navigate the challenges, according to Mr Tee Fong Seng, veteran banker and former chief executive for Asia at Swiss private banking group Pictet Wealth Management.

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