2020 Private Banking COO Survey

Succession Planning 2019

The 2020 Private Banking COO Survey provides a snapshot of how regional private banking operations have coped with — and adjusted to — the unprecedented disruption and the digital transformation caused by the global pandemic.

The private banking COOs and their teams that Asian Private Banker surveyed this year represent a combined Asia AUM of US$1.28 trillion — about 65% of total AUM among the top 20 private banks in Asia (excluding onshore China).

A few takeaways:

  • The impact of COVID-19 has been diverse, ranging from little impact for some to severe disruptions for others.
  • The pandemic has accelerated the digital transformation in private banks.
  • Phone calls have remained the most popular method of client-banker communication, with the time spent via the bank’s app and instant messaging tools increasing only moderately.
  • Remote/flexi-working is one of the top three changes likely to become permanent after the pandemic.

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