Private banks and RMs joining EAMs lock horns

The rapid trend of private bankers spinning out to start their own external asset managers (EAM) or to join an existing one is leaving private banks in Asia in a conundrum, experts tell Citywire Asia.

Many wealth players in the region keen to cater to the segment have also found themselves looking for ways to protect their business interests.

“Some banks are concerned that they may be cannibalising their business by allowing bankers to leave, set up an EAM, and then come back as an EAM client of the bank and start taking a retrocession” said James Dellborg, senior director at consulting firm Synpulse.

By Cheryl Heng | Sep 12, 2024

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