Be a Private Banker in Asia

If you ever fancy private banking be your investment banking career, you might want to consider relocating to Hong Kong. One more senior banker has moved his desk here.

After moving its CEO to Hong Kong in January 2010, HSBC is in advanced discussions to move Chris Meares, the global head of its private bank, from London to Hong Kong.

Apart from HSBC’s senior moves, JPMorgan has just relocated its head of international private banking unit, Douglas Wurth, from New York to Hong Kong in February. “Asia is seeing greater growth in the ultra-high-net-worth space than any other region.” said Douglas.

There are more than 2.4m dollar millionaires in Asia Pacific with a combined wealth of $7,400bn, according to the latest data from Merrill Lynch and Capgemini. The region is forecast to overtake North America as the world’s largest pool of wealth by 2013.


You might want to review my previous post of ‘how to become a private banker’


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Doug Wurth - Bio
JPMorgan Private Bank
Doug Wurth is a managing director of JPMorgan Securities Inc and global head of alternatives of JPMorgan Private Bank’s alternative investments group, which supervises over $33 billion in alternative investments including hedge funds, private equity and real estate. Doug is also a director and president of JPMorgan Private Investments Inc, which oversees private investment funds with $5 billion under management. Doug has been with JPMorgan since 1997, when he joined the Bank’s mergers and acquisitions group. He has helped lead the Private Bank’s global alternative investments business while based in San Francisco, London and New York. Prior to joining JPMorgan, he practiced law at the New York firm Skadden, Arps, Slate, Meagher, & Flom, and served as General Counsel to former Senator Robert Dole’s 1996 presidential campaign. Doug holds a B.A. from the University of Notre Dame and a J.D. from the University of Virginia School of Law.



Investment Bankin Career - How to become a private banker

HSBC CEO Makes Hong Kong Homecoming

Have you ever considered working in Hong Kong? The fast-growing Asian market has not only attracted top-notch bankers from the Wall Street, but also the HSBC CEO.

The 144-year-old HSBC has relocated its CEO Michael Geoghegan from London back to Hong Kong after 16 years. In a welcome ceremony today, Mike said he's going to enjoy a cup of Chinese tea as the first thing to do in his Hong Kong office.

Photo source: Reuters

Michael Geoghegan - Bio
Group chief executive, HSBC Holdings PLC
Mr Geoghegan is a career banker with over 35 years' international experience with HSBC. He has worked in the Americas, Asia, the Middle East and Europe. He established the Group's operations in Brazil in 1997 following the creation of Banco HSBC Bamerindus S.A and in 2003 he was honoured with a CBE in recognition of his contribution to British business interests in Brazil.
Source: HSBC

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Investment Banking Career Overview

My free ebook has generated encouraging responds. Some readers asked me for additional reading material.

Here is a link for you to access WetFeet’s Investment Banking Overview.

WetFeet has also published a book called Careers in Investment Banking. If you are keen to start an IB career, might get this book for more indepth reading.

Product Description from Amazon

Careers in Investment Banking - In this Insider Guide, you’ll find plenty of research from WetFeet's experts to help you launch your I-banking career. Turn to this popular WetFeet Insider Guide to explore what investment banks really do-forget all the corporate PR. Industry trends and what they mean for today's job seekers. Industry performance and how the major players have fared in recent rankings. Profiles of the leading firms, including financial highlights. Opportunities in corporate finance, public finance, M&A, sales and trading, and research... ...and what people working in each of these areas actually do everyday, in plain English. What insiders consider the pluses and the minuses of an investment banking career, from lifestyle and culture to travel and hours (oh, the hours!). Interviewing tips from industry insiders and recruiters.

Investment Banking Career Overview