| Abstract | The world's private bankers have polished their brogues and stepped off the thick pile carpet of their European and American head offices and checked into Hong Kong's glass towers in order to compete with each other in catching the eye, and the liquid assets, of this city's millionaires with a loose US$1 million in their pocketbooks which they are willing to entrust to the wealth creation and preservation professionals. With some fifty financial institutions offering private banking services in Hong Kong, the field is crowded and highly competitive. According to Francois Barbe, regional managing director of BNP Private Banking Asia, Hong Kong would be the place where competition is the toughest in the world in terms of marketing and product creation. Everyone is working on a new product, it is a very dynamic market. |
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