Financial Center
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.







5 Shocking Deals that shake-up Private Banking in Asia

Since the global financial crisis of 2008, banks had gone through many mergers, acquisitions, split-ups and some went into oblivion.

We look at  5 deals that had shake-up Private Banking in Asia since 2008.

No. 1  Bank of America acquire Merrill Lynch in 2008

Bank of America Merrill Lynch Building Logo

- Article continues below -
Web links may be disabled on mobile for security.
Please click on desktop.





The 2023 Investment Day | HK & SG
Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023.
Visit | Register here





In 2008, Bank of America acquired global financial giant Merrill Lynch.  The deal was concluded at $50 Billion and almost $2.5 Trillions AUM (Assets Under Management) were gained by Bank of America.  Bank of America took over all of Merrill Lynch business operations including wealth management, capital markets, advisory and shareholdings of BlackRock Inc.

+ AUM $2.5 Trillion

Source: Bank of America Press Release 2008

Deal Facts

  • Acquirer: Bank of America
  • Acquired: Merrill Lynch
  • New Entity: Bank of America Merrill Lynch
  • Deal Size: $50 Billion
  • AUM Acquired: $2.5 Trillion
  • Assets Involved: All of Merrill Lynch businesses including wealth management, capital markets, advisory and shareholdings of BlackRock Inc

Source: Bank of America acquired Merrill Lynch to form Bank of America Merrill Lynch

 

No. 2  OCBC Bank acquire ING Private Banking in 2009

 

Bank of Singapore
Bank of Singapore

In 2009, OCBC Bank acquired ING Asia Private Banking.  The deal was concluded at a cost of $1.46 Billion with OCBC Bank gaining $16 Billion AUM.  OCBC Private Bank and ING Asia Private Banking will merged to form the entity – Bank of Singapore.

+ AUM $16 Billion

Deal Facts

  • Acquirer: OCBC Bank
  • Acquired: ING Private Banking
  • New Entity: Bank of Singapore
  • Deal Size: $1.46 Billion
  • AUM Acquired: $16 Billion
  • Assets Involved: Asia Private Banking

Source: OCBC Bank acquire ING Private Bank to form Bank of Singapore in 2009

 

No. 3  Julius Baer acquire Macquarie Private Bank in 2011

Julius Baer

In 2011, Julius Baer acquired Macquarie Private Banking operations in Asia (Singapore & Hong Kong).  The deal was completed at a nominal cost.  Julius Baer gained $1 Billion AUM from the purchase of Macquarie Private Bank in Asia.

+ AUM $1 Billion

Deal Facts

  • Acquirer: Julius Baer
  • Acquired: Macquarie Private Bank
  • New Entity: Julius Baer
  • Deal Size: Nominal
  • AUM Acquired: $1 Billion
  • Assets Involved: Asia Private Banking (Singapore & Hong Kong)

Source: Julius Baer acquire Macquarie Private Bank in 2011

 

No. 4  DBS Bank acquire Societe Generale Private Banking in 2014

DBS Bank
DBS Bank

In 2014, DBS Bank acquired Societe Generale Private Banking operations in Singapore, Hong Kong and part of it’s trust businesses.  The deal was concluded at a cost of $220 million with DBS Bank gaining $12.6 Billion AUM (Assets Under Management).  Majority of Societe Generale’s 330 staffs will be joining DBS under the brand DBS Private Banking.

+ AUM $12.6 Billion

Deal Facts

  • Acquirer: DBS Bank
  • Acquired: Societe Generale Private Banking
  • New Entity: DBS Private Bank
  • Deal Size: $220 Million
  • AUM Acquired: $12.6 Billion
  • Assets Involved: Singapore & Hong Kong Private Banking, and selected parts of trust business unit

Source: DBS to buy Societe Generale’s Private Banking business

 

No. 5  Union Bancaire Privee acquire Coutts International in 2015

The building of the Union Bancaire Privee is pictured in Geneva

In 2015, Union Bancaire Privee (UBP) acquired Royal Bank’s of Scotland’s Private Bank – Coutts International.  The deal was completed at an undisclosed price (Industry estimates $600 – $800 million).  UBP will gained $31 Billion in AUM.  The acquisition includes all of Coutts International except UK operations.

+ AUM $31 Billion

Deal Facts

  • Acquirer: Union Bancaire Privee
  • Acquired: Coutts International
  • New Entity: Union Bancaire Privee
  • Deal Size: Estimated $600 – $800 Million (Undisclosed)
  • AUM Acquired: $31 Billion
  • Assets Involved: All of Coutts International except UK

Source: Union Bancaire Privee acquire Coutts International in 2015

 

Credits: Wall Street Journal, Bloomberg, Reuters, Straits Times

Related Articles:

Useful Articles:

 




Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below








Caproasia Users

  • Manage $20 million to $3 billion of assets
  • Invest $3 million to $300 million
  • Advise institutions, billionaires, UHNWs & HNWs

Caproasia Platforms | 10,000 Investors & Advisors

Monthly Roundtable & Networking

Family Office Programs

The 2023 Investment Day

  • 28th March 2023 - Hong Kong
  • 4th April 2023 - Singapore
  • April 2023 - Virtual
  • Sept 2023 - Hong Kong
  • Oct 2023 - Singapore
  • Oct 2023 - Hong Kong
  • Visit: The Investment Day | Register: Click here

Caproasia Summits

Contact Us

For Enquiries, Membership
mail@caproasia.com, angel@caproasia.com

For Listing, Subscription
mail@caproasia.com, claire@caproasia.com

For Press Release, send to:
press@caproasia.com

For Events & Webinars
events@caproasia.com

For Media Kit, Advertising, Sponsorships, Partnerships
angel@caproasia.com

For Research, Data, Surveys, Reports
research@caproasia.com

For General Enquiries
mail@caproasia.com





Make Better Business & Investment Decisions



For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Professional InvestorInstitutional InvestorFamily OfficeAdvisorFinancial ProfessionalExecutiveOthers


    Mailing ListFree TrialSubscription YearlySubscription MonthlyMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights











    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014


    Web links may be disabled on mobile for security.
    Please click on desktop.






    Previous articleList of Boutique Private Banks in Singapore
    Next articleWhat is an Insurance Specialist?
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia