Chasing Asia's wealth

Private bankers are jumping from shop to shop, hoping to build the right franchise that attracts the most clients. But is there really room for everyone?

Private bankers are playing musical chairs again as they woo Asia’s growing abundance of wealthy families and individuals.

The region’s 3.3 million high-net-worth individuals HNWIs are second in number to North America, and this year they jumped ahead of Europe, according to the Capgemini Merrill Lynch 2011 World Wealth Report released earlier this year.

And the banking business is growing. Assets under management held by the top 20 Asia-Pacific banks has...

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