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Bank Of Singapore Moves Toward A Wider Discretionary Portfolio Management Offering
Vanessa Doctor
4 September 2013
has always had a dedicated team that looks at asset allocation for the discretionary portfolio management service. The DPM team, headed by Hou Wey Fook, chief investment officer, works closely with our relationship managers to market DPM services to clients," said a spokesperson for the company when contacted by WealthBriefingAsia. A study released by McKinsey & Co in June 2013 reveals that Asian private banking clients have less than 5 per cent of their wealth in discretionary mandates, compared to the Western Europeans, who have over 20 per cent in similar accounts.