decoding the new dynamics of Asia’s UHNW population.

In light of the unprecedented disruption and changes in 2020, Lombard Odier took the opportunity to reflect upon and rethink the needs of the Ultra High Net-Worth Individuals (UHNWI) in Asia, consisting of leading families and entrepreneurs in the region, and the roles private banks play in this changing environment.

Join the conversation

How has 2020 changed your life – in the way you work, live, and bank? We are keen to hear how your needs and values have evolved in this New Normal. Take part in the survey and receive the insights to our study, and put your views into perspective against the backdrop of the global pandemic.
 

Click here to complete the survey

 

The goal of this initiative was to invite participants to

  1. Identify what impacts the crisis had on their reality
  2. Reflect on potential implications and priorities’ change
  3. Define the actions that they should take to implement this new reality and priorities


Our commitment to participants was to

  • provide our feedback and analysis driven from both the quantitative and qualitative elements of our interactions with participants
  • deduce trends concerning UHNWIs in Asia and the roles
  • rethink the roles of private banks in this new reality

The results of these efforts are elucidated in a whitepaper: Connection, transition, transformation: engaging Asia’s UHNW in the New Normal.


Methodology

The study was conducted together with some of the Lombard Odier’s Strategic Alliances in Asia.

The study consisted of a quantitative questionnaire and an in-depth personalised interview that covered a wide range of topics including investing, sustainability, technology and inequality

The study consisted of a quantitative questionnaire that covered a wide range of topics including investing, sustainability, technology and inequality, complemented with an in-depth personalised interview for a deeper dive into the topics covered in the questionnaire as well as other points the participants wanted to raise.

More than 150 UHNWIs, based on assets under management and overall wealth, were selected. These participants were domiciled in Hong Kong, Indonesia, Japan, Singapore, the Philippines, Taiwan, and Thailand.

The study was conducted between July and October 2020.

In a low interest rate and more complex environment, where sustainability will be a key trend, UHNWIs’ need for guidance and advice has increased, with a clear interest in discretionary mandates

Executive Summary

  • 81% of the UHNWIs surveyed said “more digital less physical” interactions will become the norm
  • 87% of respondents said a bank’s degree of digitalization will matter going forward
  • 83% of UHNWIs expect an increase in inequalities will be the new norm once the COVID-19 crisis has ended
  • 78% of UHNWIs think lasting low interest rates globally will be part of the new normal
  • Areas such as private equity and private debt, IT and healthcare sectors raise interest among UHNWIs
  • An overwhelming 89% of respondents said that the sustainability trend is no longer a trend and is here to stay

Our ambition is not so much to establish the facts of a New Normal, nor is to set the rules of the playground. Rather, we hope to foster a discussion on the future, the forces and trends poised to shape the industry for the years ahead. Let’s engage on this further.

Vincent Magnenat, Limited Partner and Chief Executive Officer, Asia

Jean-François Aboulker Head of UHNWI Offering, Asia

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