A Qualitative Study on the Challenges of Private Banking in Asia

Publication Type

Journal Article

Publication Date

2010

Abstract

This study examines the factors that have been commonly cited by relevant literature as the key drivers of success in private banking. With finite resources to address a highly attractive but increasingly competitive market, it is imperative that management ascertains the most critical success factors as they attempt to build solid and sustainable businesses in Asia. A total of nine private bankers, representing a cross-section of bankers with varying experiences and organization platforms, were interviewed. The study highlights the need for management to address strategic issues in Asia, including the adoption of a clear strategy of the segment of the target market to address in a highly fragmented market; espousing an attitude that the recruitment, training, motivation and retention of high quality human resource is a key competitive tool; and addressing the demands of a rapidly changing environment.

Keywords

Private Banking Asia

Discipline

Finance and Financial Management

Research Areas

Finance

Publication

Journal of Wealth Management

Volume

12

Issue

4

First Page

68

Last Page

77

ISSN

1534-7524

Identifier

10.3905/JWM.2010.12.4.068

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