RBS Seeks to Double Asia Wealth Assets to $30 Billion by 2015
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Royal Bank of Scotland Group Plc, which manages $15 billion in private wealth in Asia, plans to double its private banking assets there within five years, the lender’s co-head of global wealth management investing said.
“We wish to increase our presence in all international markets,” Nick Cringle, the division’s co-chief investment officer, said in an interview in Mumbai yesterday. “From a profitability perspective, 60 percent of our profits come from the U.K. and 40 percent from international businesses. Part of our five-year strategic plan is to reverse that.”