Monday Morning
A private banker is at your service in Singapore, which is fast gaining a reputation as the Switzerland of Asia for the world’s growing ranks of multi-millionaires.
The tropical island-state, Southeast Asia’s most advanced economy, has emerged as a center for the wealth management industry, which caters to an elite breed called high net worth individuals, or HNWIs.
Banks have boosted their wealth management services, taking up luxury offices in the business district as well as recruiting and training staff in the fine art of dealing with this moneyed class.
“Typically, a client should have a financial net worth of between five to 10 million US dollars, excluding the house, car and wine collection -- just money available to invest”, said Marcel Kreis, head of private banking for the Asia Pacific region at Crédit Suisse, the Swiss banking giant.
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