Private Wealth Management: Successful Strategies for Asia and Beyond

In today's challenging markets, private clients are demanding more from wealth managers than ever before. Do you have the skills to keep their trust and expertly guide them through the changes ahead?

Presented in partnership with CFA Institute, CFA Singapore and the Wealth Management Institute, Private Wealth Management: Successful Strategies for Asia and Beyond brings together industry experts to review best practices, examine critical issues, and discuss how wealth managers can continue to understand and meet the complex needs of their global clients.

Participants will explore:

The latest wealth management industry trends with industry leaders and experts
New techniques for assessing risk tolerance and applying behavioral finance
How to use trusts to manage cross-border planning
Post-modern portfolio management techniques and asset-liability management
Key needs of private clients and organizational design ideas
Family governance, succession planning, and family business issues
Methods for managing concentrated wealth
China capital markets development and implications for wealth owners
The global economic, capital markets, and geopolitical outlook

View the brochure (PDF)

Wednesday, 29 September 2010

8:00 a.m.
Registration and Continental Breakfast

9:00 a.m.
Conference Welcome

9:05 a.m.
Opening Remarks
Ng Kok Song
Group Chief Investment Officer
Government of Singapore Investment Corporation Pte. Ltd.

9:20 a.m.
The Wealth Management Industry and Today's Wealth-Owning Families: New Opportunities after the Global Financial Crisis and the Issues and Opportunities for Singapore-Based Wealth Managers
Philip Marcovici
CEO and Chairman
LawInContext Pte. Ltd.

Bank secrecy and tax information exchange agreements: Impact on the needs of global wealth owners and on the wealth managers that serve them and why a defensive strategy is a failing strategy
How will post-crisis regulatory, legal, and client preference changes affect the private banking industry?
Recent developments in Asia

10:30 a.m.
Refreshment Break with Exhibitors

10:50 a.m.
Panel Discussion
The Wealth Management Industry and Today's Wealth-Owning Families: Perspectives and Outlook from Industry Leaders
Carlo A. Grigioni
Vice Chairman, Wealth Management and Swiss Bank
UBS AG

Deepak Sharma
Chairman
Citi Private Bank

Douglas Wurth
CEO, International Private Bank
JPMorgan

How private banks and wealth managers are responding to increasing transparency and global trends
How wealth managers will meet the needs of wealth owners now and in the future
Implications for organizational design, training, and resources to be successful in today's wealth management environment

11:50 a.m.
What Private Clients Want from Their Wealth Managers and How to Provide It: Implications for Managing a Wealth Management Business
Speaker to be announced

12:50 p.m.
Lunch followed by Dessert with Exhibitors

2:00 p.m.
Asset Allocaton for Private Clients: Life after Modern Portfolio Theory
Jean L.P. Brunel, CFA
Managing Principal
Brunel Associates LLC

Four fundamental challenges for wealth managers: taxes, mental accounting, multiple goals, and extreme events
Best practices for solving these problems, and how to communicate them to your clients
Reconciling these solutions with traditional investment management models

3:00 p.m.
Asset-Liability Management for the Private Client
Dan DiBartelomeo
President
Northfield Information Services

What are private client liabilities in the ALM framework? How are they valued?
Unique private client risk characteristics in the ALM framework
Portfolio construction, immunization, and risk management for private clients

3:45 p.m.
Refreshment Break with Exhibitors

4:05 p.m.
Keynote Address
Behavioral Finance across Cultures
Meir Statman
Glenn Klimek Professor of Finance, Santa Clara University
Visiting Professor, Tilburg University

The goals, cognitive errors, and emotions affecting investor behavior
The effects of culture on investor behavior
How financial advisers can guide investors towards their goals, overcoming cognitive errors and emotions

5:05 p.m.
Networking Reception Hosted by Exhibitors

Thursday, 30 September 2010

8:00 a.m.
Continental Breakfast

9:00 a.m.
Welcome and Opening Remarks

9:10 a.m.
The Global Economic Landscape and Capital Markets Outlook
Richard Duncan
Author and Chief Economist
Blackhorse Asset Management

The secular decline of developed economies
The deflation/inflaton debate and relative currency valuations
Prospects for gold, oil, and other commodity sectors

10:00 a.m.
Using Trusts Effectively to Achieve Client Goals in a Cross-Border Context
Philip Marcovici
CEO and Chairman
LawInContext Pte. Ltd

Problems and issues that call for trust solutions - the massive need for succession planning in Asia and around the world, and what this means for the future
Use of revocable, irrevocable, discretionary, and non-discretionary trusts in the context of the specific needs of wealth owners in Asia given the tax, legal, and other dynamics of their home countries and of the countries in which they invest
Recent developments in key Asian markets and strategies for success in marketing trust services
How trust services fit into a wealth management business and models for success for independent trust companies, integrated trust operations within global banks, and others

11:00 a.m.
Refreshment Break with Exhibitors

11:20 a.m.
China Capital Markets Development and Implicatons for Wealth Owners
Aaron Low, CFA
Principal
Lumen Advisors

Recent developments and outlook for the A-shares, B-shares, H-shares, REIT, and related markets
Recent developments and outlook for the fixed income and currency markets
Institutional issues: QFII, QDII, non-tradable shares, privatization of SOEs, development of derivatives markets, etc.

12:30 p.m.
Lunch followed by Dessert with Exhibitors

1:45 p.m.
Managing Concentrated Wealth and Other Family Business Issues in Asia
Sam Yang, CFA
Chief Financial Officer
CHC Healthcare Group Limited

Behavioral barriers to diversifying concentrated stock holdings and how to address them
An analysis of hedging and monetization strategies
Country-specific exit and hedging strategies

2:45 p.m.
Family Governance and Succession Planning in Asia and Beyond: Trends and Issues
Roger King
Professor
Hong Kong University of Science and Technology

The importance of family governance to preserving family relationships in Asia and other regions
Global best practices in family governance and succession planning
Implications for the wealth manager and how to add value to the client relationship

3:45 p.m.
Refreshment Break with Exhibitors

4:05 p.m.
What Wealth Managers Need to Know about Geopolitics
David Gordon
Head of Research
Eurasia Group

The destabilizing potential of economic stress
Global political trends investors should be following
Potential areas of concern

5:05 p.m.
Closing Remarks

Jean L.P. Brunel, CFA

Jean L.P. Brunel, CFA, is managing principal of Brunel Associates, a firm offering wealth management consulting services to ultra-affluent individuals. Previously, he worked at U.S. Bankcorp as chief investment officer of private asset management and at J. P. Morgan. Mr. Brunel is the editor of the Journal of Wealth Management and has served as a trustee of the Research Foundation of CFA Institute. He also authored the book Integrated Wealth Management: The New Direction for Portfolio Managers . A graduate of École des Hautes Études Commerciales, Mr. Brunel holds an MBA from the Kellogg Graduate School of Management at Northwestern University.

Dan diBartolomeo

Dan diBartolomeo is president and founder of Northfield Information Services, Inc. He has authored numerous articles and papers in a variety of journals, contributed chapters to several finance textbooks, written extensively for the Research Foundation of CFA Institute, and is co-author of the book Investment Management for Private, Taxable Wealth . Mr. diBartolomeo serves on the board of the Chicago Quantitative Alliance and is director of the American Computer Foundation. He is an active member of the Financial Management Association and formerly served on the industry liaison committee of the Department of Statistics and Actuarial Sciences at New Jersey Institute of Technology.

Richard Duncan

Richard Duncan is chief economist at Blackhorse Asset Management. Previously, he headed equity research departments at James Capel Securities and Salomon Brothers in Bangkok, served as global head of investment strategy at ABN AMRO Asset Management in London, and worked as a financial sector specialist for the World Bank in Washington, D.C. Mr. Duncan has published articles in the Financial Times , Far Eastern Economic Review , and FinanceAsia , and his latest book is The Corruption of Capitalism: A strategy to rebalance the global economy and restore sustainable growth . He has appeared frequently on CNBC, CNN, BBC, and Bloomberg Television.

David F. Gordon

David F. Gordon is head of research and director of global macro analysis for Eurasia Group. Previously, he served as director of policy planning under Secretary of State Condoleezza Rice and held a top management role at the National Intelligence Council. Dr. Gordon's extensive work in the intelligence community has covered issues including global economics and energy, illicit finance, insurgency and counterinsurgency, and global health. He is co-editor of the book Managing Strategic Surprise: Lessons from Risk Management and Risk Assessment . Dr. Gordon holds an undergraduate degree from Bowdoin College and a PhD degree from the University of Michigan.

Carlo Grigioni

Carlo Grigioni is vice chairman and head of ultra-high-net-worth for Asia Pacific of UBS Wealth Management & Swiss Bank. He has held a variety of senior management roles at companies including the former Swiss Bank Corporation, Chase Manhattan Bank, and Citibank. Mr Grigioni was one of the original architects of Asia Pacific's wealth management business and has worked in Zurich, Geneva, New York, Hong Kong, and Singapore. He holds a commercial diploma from the Commercial School in St. Gallen, Switzerland. He also completed the Stanford Graduate School of Business executive program and the Stanford�National University of Singapore executive program.

Roger King

Roger King is an adjunct professor of finance and serves as director of the Center for Asian Family Business and Entrepreneurship Studies and the Center for Business Case Studies at Hong Kong University of Science and Technology. Previously, he held a number of business leadership roles, including president and CEO of Sa Sa International Holdings. Dr. King is a supervisory board member of TNT and holds non-executive director positions at Arrow Electronics, Overseas Orient International and Sincere Watch. He holds a BS degree from the University of Michigan, an MS degree from New York University, and a PhD degree in finance from Hong Kong University of Science and Technology.

Aaron Low, CFA

Aaron Low, CFA, is a principal of Lumen Advisors, where he manages emerging markets macro long�short funds and oversees Lumen's operations in Asia. Previously, he was a senior portfolio manager and head of Asia ex-Japan at PIMCO and head of Asia and senior portfolio manager for RCM Global Investors. Dr. Low has been active in the advocacy area at CFA Institute and is current chair of the Capital Markets Policy Council and past chair of the Asia-Pacific Advocacy Committee. He holds an undergraduate degree in engineering from the National University of Singapore and a PhD degree in international finance from the Anderson School at UCLA.

Philip Marcovici

Philip Marcovici is the chairman and CEO of LawInContext Pte. Ltd., the interactive knowledge venture of Baker & McKenzie. He retired as a partner at Baker & McKenzie, where he was one of the founders of its global wealth management practice. Mr. Marcovici has taught as an honorary lecturer at the law school of Hong Kong University and the University of Zurich. He is a member of a number of professional organizations including the American Bar Association and the Society of Trust and Estate Practitioners. Mr. Marcovici holds a DCS degree from McGill University, an LLB degree from the University of Ottawa, and an LLM degree from Harvard University.

Ng Kok Song

Ng Kok Song is managing director and group chief investment officer of the Government of Singapore Investment Corporation. Previously, he worked at the Ministry of Finance and the Monetary Authority of Singapore, and he was the founding chairman of the Singapore International Monetary Exchange (SIMEX, now incorporated into the Singapore Exchange). Mr. Ng is currently founding chairman of the Wealth Management Institute. He is also a member of the senior advisory council of the International Capital Markets Association (ICMA), and an adviser to Agency France Tresor. Mr. Ng holds a physics degree from the University of Singapore and a management degree from Stanford University.

Deepak Sharma

Deepak Sharma is chairman of Citi Private Bank, based in Singapore. Previously, he was CEO of Citi Global Wealth Management � International. Mr. Sharma is a member of Citi's senior leadership committee, and his career has spanned different functional and geographical areas across the Citi global franchise. He is co-founder and trustee of Indiapore Trust, a fund to benefit children's education across Asia, and a member of the management board of the Middle East Institute at the National University of Singapore. Mr. Sharma holds a graduate degree in chemistry and a master's degree in business administration from the Indian Institute of Management, Ahmedabad.

Meir Statman

Meir Statman is Glenn Klimek Professor of Finance at the Leavey School of Business at Santa Clara University. His widely published research focuses on behavioral finance and has been supported by the National Science Foundation, Research Foundation of CFA Institute, and Dean Witter Foundation. Professor Statman is a member of the Editorial Board of the Financial Analysts Journal , which twice awarded him with the Graham and Dodd Award of Excellence. He holds BA and MBA degrees from Hebrew University and a PhD degree from Columbia University.

Douglas Wurth

Douglas Wurth is CEO of J.P. Morgan's International Private Bank, where he oversees an international platform focused on serving ultra-high-net-worth families. Previously, he served as global head of the private bank's alternative investments group and began his career at J.P. Morgan in the firm's mergers and acquisitions group. Mr. Wurth is a member of J.P. Morgan Chase & Co.'s executive committee and serves on the board of Highbridge Capital Management. He holds a BA degree from the University of Notre Dame and a JD degree from the University of Virginia School of Law.

Samuel Yang, CFA

Samuel Yang, CFA, is CFO of CHC Healthcare Group Limited, which is a distributor of medical equipment, products, and systems in the Asia Pacific region. Previously, he worked as a vice president at Morgan Stanley Asia Limited, serving the bank's key corporate and family clients in Taiwan, and as an associate director at Merrill Lynch's Private Investment Banking Group, providing integrated investment banking, corporate banking, private equity, and private banking services to the firm's major corporate and family clients throughout the Greater China region. Mr. Yang was co-founder of the Taipei CFA Society. He holds a finance degree from City University, London.

Fees :
Fees on or before 31 August 2010:
CFA Institute Member/Candidate Rate: US$1,017.73 (approximately S$1,400)
CIPM Member/Candidate Rate: US$1,017.73 (approximately S$1,400)
IBF Member Rate: US$1,017.73 (approximately S$1,400)
WMI Associates and Alumni Rate: US$1,017.73 (approximately S$1,400)
Non-Member Rate: US$1,272.17 (approximately S$1,750)

Fees after 31 August 2010:
CFA Institute Member/Candidate Rate: US$1,235.82 (approximately S$1,700)
CIPM Member/Candidate Rate: US$1,235.82 (approximately S$1,700)
IBF Member Rate: US$1,235.82 (approximately S$1,700)
WMI Associates and Alumni Rate: US$1,235.82 (approximately S$1,700)
Non-Member Rate: US$1,490.26 (approximately S$2,050)

Note: Fees will be collected in U.S. dollars. Singapore dollar fees above are subject to currency fluctuations.

Delegate Sponsorship: Firms that send five or more delegates receive special rates as a delegate sponsor.

Funding: The Monetary Authority of Singapore (MAS) administers grants to financial sector organizations based in Singapore that sponsor eligible participants to training programmes that meet qualifying criteria. For enquiries, please contact the MAS at +65 6229-9396 or via e-mail at fsdf@mas.gov.sg .

Payment is due at time of registration. Forms received without payment will be confirmed on a space-available basis when payment is received. All fees are payable in Singapore dollars. Confirmation e-mails will be sent within two weeks of receipt of your paid registration. Attendance is limited. Please register early.

Your Registration Fee Includes: Continental breakfasts, refreshment breaks, lunches, a networking reception, the opportunity to meet with investment colleagues and speakers from around the world, post-conference access to presentation materials online, and a notebook containing extensive conference materials.

Cancellation Policy: A cancellation fee of US$145.39 (approximately S$200) applies for all cancellations made after 22 September 2010. No refunds will be issued for any cancellations received within 24 hours of program start. Substitutions from the same company are accepted with fee adjustment, if appropriate. Sharing of registrations is not permitted.

For firms participating in a delegate sponsorship and receiving a group discount rate, if a cancellation brings the group's delegate count below five and a substitute is not available, regular rates will apply to the remaining delegates, and all fees and deadlines above will be applicable.

Hotel Information: CFA Institute has arranged for a special group rate at the Swissôtel The Stamford. Reservations should be made directly with the hotel. You must refer to the �CFA Institute group� when contacting the hotel, and reservations should be made by 28 August 2010 to take advantage of our discounted rate. The CFA Institute rate at the Swissôtel The Stamford is S$320 for single/double occupancy, subject to availability.

Swissôtel The Stamford
2 Stamford Road
Singapore 178882
Telephone: +65 6338 8585

Special Needs: Please contact CFA Institute for services to accommodate a disability or to inform CFA Institute of any dietary restrictions. (Please include this information when you register for the conference.)

Attire: Business casual attire is appropriate for this conference.

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