The totality of wealth management

Wealth creation in Asia is likely to continue on its fast-paced trajectory well into the future, writes Antony Hung of Merrill Lynch global wealth and investment management, which means banks need to be prepared for the growth.
Antony Hung
Antony Hung

The rate of wealth creation in Asia during the past decade has been unprecedented. The number of high-net-worth individuals -- those with assets of more than $1 million excluding their primary residence -- in Asia has almost doubled.

The combined wealth of Asia's rich has likely risen at an even faster rate during the same period. And this wealth creation theme is likely to continue on its current trajectory well into the future. Rising domestic consumption, growing interregional trade and urbanisation will continue to work together to drive the Asian story, as well as corporate profits and individuals' wealth creation.

Asia's wealth management industry has also seen significant growth and development during the past 10...

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