Hot money, hot problem
Article Abstract:
Private bankers increasingly play the role of detective in determining whether money arriving in suitcases is legitimate especially when it comes from countries including Russia, China and Indonesia. In many cases, it is difficult to ascertain whether the money belongs to a country or to the depositor. The problem is particular acute in Hong Kong where money from the People's Republic of China is likely to appear. Many private bankers are suspicious about these types of funds since legitimate businessmen usually invest their money back into their businesses.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Asia sets a new challenge; knowledge and technology are making clients far more demanding
Article Abstract:
Private banking is growing in Asia, fueled by dynamic economies growing in a region where political risk remains pervasive. Modern private banking has become high tech while sharing the traditional characteristics of secrecy and personal service. The size of the Asian private banking market is enormous. Chase Manhattan estimated it at $650 billion in 1993 but many private bankers place today's estimate at two or three times that figure.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Questions of trust
Article Abstract:
The impending transfer of political power from Britain to China in 1997 has sparked interest in trusts among wealthy Hong Kong residents seeking to protect their assets. Trusts offer a means of minimizing taxes which may pose a burden for Hong Kong residents under Chinese rule. Private bankers note that many clients are inquiring about transferring assets out of Hong Kong through trusts as a means of political protection.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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