{"id":9096,"date":"2008-11-11T00:00:00","date_gmt":"2008-11-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"wealth-managers-fret-as-the-rich-turn-away-from-them-after-losses","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2008\/wealth-managers-fret-as-the-rich-turn-away-from-them-after-losses.html","title":{"rendered":"Wealth managers fret as the rich turn away from them after losses"},"content":{"rendered":"<p>Times of India &#8211; Can the wealthy trust their wealth managers any more after losing 30 to 60% of their wealth during the current global financial crisis?<\/p>\n<p>The world&#8217;s top banks including brands like Morgan Stanley, UBS, Barclays and Standard Chartered operating in Asia are desperately struggling to find a suitable answer to this question. <\/p>\n<p>It is interesting to see the usually suave and self-confident community of private bankers looking dazed and fearful of survival. There is already a run on deposits with some of Asia&#8217;s wealthy pulling out money from accounts of private banks. The future looks dismal. Some of the world&#8217;s top banks have either gone bust or merged with others to stave off closure. <\/p>\n<p>&quot;Professional advisers have failed to prove their worth,&quot; Peter Flavel, senior managing director of The Standard Chartered Private Bank told a conference of wealth managers in Singapore on Friday. &quot;The players have changed in a way that was unimaginable a few months back. They will continue to change,&quot; he said. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/timesofindia.indiatimes.com\/Intl_Business\/Wealth_managers_fret_as_the_rich_turn_away_from_them_after_losses_in_financial_crisis\/articleshow\/3699343.cms\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Times of India &#8211; Can the wealthy trust their wealth managers any more after losing 30 to 60% of their wealth during the current global financial crisis? The world&#8217;s top banks including brands like Morgan Stanley, UBS, Barclays and Standard [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[646,649,678,3511,2469,2924,3661,2495,3662,2565,3660,754,1183,885,2275,112,47],"class_list":["post-9096","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-arthur-sulzberger","tag-bridget","tag-domicile","tag-fortune-magazine","tag-fund-managers-in-singapore","tag-henry-m-paulson","tag-independent-database","tag-la-caixa","tag-letter-dated-july","tag-management-meeting","tag-north-america-europe","tag-personal-reasons","tag-private-enterprise","tag-rebound","tag-research-capabilities","tag-summer-intern","tag-third-party"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9096"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9096\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}