The once staid arena of dapper Swiss and well-groomed Luxembourgois, is now host to all the biggest banks in the world. Attracted by the low costs and high revenues, the competition is fierce, and nowhere more so than in Singapore - the private banking hub of Asia.
CSPB has taken off its metaphorical gloves and announced that it has poached eight private bankers from JPMorgan Private Bank. Of these eight, three are senior relationship managers, two are relationship managers and another three are assistant relationship managers.
Yet none of the bankers have been named, and sources at JPMorgan say that the number that are going is much less than eight. Whatever...
