Reuters: Odds Shift For Global Banks' Asia Wealth Bets In China's Slower-Growth Reality
April 28, 2022
Wealth managers at the big global banks are tempering their expectations for Asia, their fastest growing market, after China's regulatory crackdown and COVID-driven slowdown helped to push clients to the sidelines, bankers and analysts said.
"We hear from the banks clients tend to be very conservative with trades and less likely to commit anything more structured, and are really keeping themselves pretty light," Jasper Yip, Hong Kong-based Partner at consultancy Oliver Wyman, said.
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