I recently reviewed the websites of independent wealth managers across Asia. I looked beyond design and marketing language and focused on what their presence actually signals.
Several Asian independent wealth managers are now materially larger than the biggest independent firms in Switzerland. This stands out, especially as many of these players only established themselves around ten years ago. Scale came quickly. Ambition followed.
Their geographic footprint tells the real story. Singapore, Hong Kong, Dubai, Abu Dhabi, Tokyo, Bangkok, Beijing, Shanghai, Taipei. The pattern is consistent. Europe is absent. Switzerland is absent. At the same time, Swiss banks and wealth managers have been present in Asia for years and continue to pursue growth there. The direction is clearly one-way.
Europe is complex
Regulation explains part of this. Europe remains complex, fragmented, and expensive to enter. Market access requires substantial investment in compliance and ongoing operational costs. For many Asian firms, the return does not justify the effort.
The strategic perspective matters even more. Growth follows new wealth creation. Today, that wealth emerges primarily in Asia and the Middle East. Entrepreneurial fortunes grow fast. Liquidity events accelerate. Generational transitions create demand for international structures. Europe, by contrast, is a mature market. Capital is abundant, yet new wealth grows slowly.
Positioning reinforces the logic. Switzerland is firmly established as a global wealth management hub. Any new entrant competes directly with deeply rooted brands, long-standing client relationships, and strong reputations. In Asia and the Middle East, firms actively shape markets and define standards. Consequently, they move early, build momentum, and position themselves as regional leaders.
The message is not hidden in words or visuals. It sits on the map. That map shows clearly where the future of global wealth management is being built 🌍
