在几家新近加入亚洲私人银行圈的银行看来，小即是美。
Within Asia's private banking scene, several new entrants in the region argue that small is better.
在亚洲，一批小型私人银行、顾问公司和创业企业正在设立，它们希望从大型投资银行的虎口中夺取市场份额。富裕客户对他们在金融危机期间得到的理 财建议不满意，正好成了这些小公司努力利用的机会。
A handful of small private banks, advisers and start-ups, are setting up here in a bid to grab market share from mammoth investment-banking competitors. They are trying to benefit from dissatisfaction among wealthy clients with advice they received during the financial downturn.
Hoffman & Partners Wealth Management (Singapore) Pte. Ltd.的创办人布鲁奇(Urs Brutsch)表示，从来没有比现在更好的时机。布鲁奇和几位同事从瑞士信贷(Credit Suisse)旗下Clariden Leu Ltd.离职后，于去年创办了这家专注于亚洲的公司。在此之前，布鲁奇负责Clariden的亚太区业务。他拒绝透露有多少客户投资了他的新公司，或目前 公司管理了多少资产。
'The timing has never been better,' says Urs Brutsch, founder of Hoffman & Partners Wealth Management (Singapore) Pte. Ltd., which started up last year after Mr. Bratsch and several colleagues defected from Clariden Leu Ltd., a unit of Swiss Banking Giant Credit Suisse. Before starting his Asia-focused firm, Mr. Brutsch headed Clariden's business in the Asian-Pacific region. He declined to disclose how many clients have joined him at his new firm, or its current assets under management.
布鲁奇说，银行在过去几年做得相当差，独立性已经比以往任何时候都更显价值。
'The banks have screwed up quite a bit in the last few years, and independence has never had more value,' Mr. Brutsch says.
虽然亚洲部分地区逃过了经济滑坡的最严重时期，但该地区一些高资产净值的个人遭受重挫，特别是在香港，很多客户被难于摆脱的高杠杆结构性产品套 牢，大量储蓄打了水漂。据美林全球财富管理(Merrill Lynch Global Wealth Management)和咨询公司凯捷(Capgemini)2009年联合发布的一份报告，2008年年底，香港高资产净值个人的资产缩水大约65%， 一共剩下1,810亿美元。
Although some parts of Asia escaped the worst of the economic downturn, some high-net-worth individuals in Asia were hard hit, especially in Hong Kong, where many clients got caught in highly leveraged structured products that were difficult to exit from and wiped up huge chunks of savings. At the end of 2008, assets of high-net-worth individuals in Hong Kong had plunged around 65%, to $181 billion total, according to a 2009 report released by Merrill Lynch Global Wealth Management and consulting firm Capgemini.
规模较小的公司认为，作为小型公司，它们与大公司内部投资银行部门制作的复杂产品无涉。它们表示，由于具备独立性，其私人银行家不会只管兜售那 些可能与某一客户整体风险水平或投资目标不相匹配的产品。
Smaller firms argue that as boutiques, they aren't tied to complex products cooked up by in-house investment-banking divisions. Their independence, they say, keeps their private bankers from simply trying to peddle products that may not mesh with a particular client's overall risk levels or goals.
今天的亚洲也是财富管理界最大的成长型市场。例如根据美林/凯捷的一项研究，在截止到2018年的10年内，中国和印度的高资产净值人群将接近 期初的三倍，个人财富总额将增加约4万亿美元。
Asia today also represents the biggest growth market for wealth managers. The high-net-worth populations in China and India, for example, will nearly triple in the decade ending in 2018, adding about $4 trillion in individual wealth, according to the Merrill Lynch/Capgemini study.
大公司对此并没有无动于衷。瑞士信贷与摩根大通(J.P. Morgan)仍然认为亚洲是全球范围内资产增长最快的地区。摩根大通国际私人银行部门的负责人伍斯(Douglas Wurth)刚从纽约搬到香港，在新的岗位上负责北美地区以外的所有私人银行市场。
The big firms aren't sitting on their hands. Credit Suisse and J.P. Morgan still say the region stands out as the fastest growing globally in terms of assets. The head of J.P. Morgan's international private bank, Douglas Wurth, just moved to Hong Kong from New York to take a new position heading all private banking markets outside of North America.
有批评说，大银行在2006年到2007年大举招聘时，对人脉广泛的私人银行家是不看其他条件一锅揽。对此瑞士信贷亚洲私人银行业务负责人克赖 斯(Marcel Kreis)反驳说，大银行也是以客户为导向的，并且和自营交易与投资无涉。
Marcel Kreis, head of private banking in Asia at Credit Suisse, counters criticism that big banks added well-connected private bankers indiscriminately during the boom hiring years of 2006 and 2007. The big banks are also client-oriented, and not tied to proprietary trading and investments, he says.
他说，我们现在更加着重于招聘有更多经验的银行家。
'We now have much more of a focus on hiring bankers with more experience,' he says.
但一些私人银行家表示，由于很多亚洲人的财富都是自己挣的，而不是继承的遗产，他们与外部顾问的关系都是在现在形成，不是以往的遗留。对于新加 入者和特定目标市场的追求者来说，这种情况意味着他们面前的领地是一片开阔。小型私人银行热衷于把大银行描绘为没有人情味的产品推销机构。
But some private bankers say that because many Asian fortunes are self-made, rather than inherited, relationships with outside advisers are being forged now, rather than handed down. For newcomers and niche players, that means the field is wide open. Small private banks are eager to characterize the big banks as impersonal, product-pushers.
意大利保险公司忠利集团(Generali Group)旗下总部位于瑞士的私人银行BSI，已经大步往前迈进。去年年底，它从苏格兰皇家银行(RBS)旗下私人银行RBS Coutts Bank的新加坡部门挖过来70名私人银行家。下个月，原来在RBS任职的Hanspeter Brunner将接任BSI亚洲地区的首席执行长，仍在新加坡办公。
BSI, a Switzerland-based private bank that is part of Italian insurer Generali Group, has moved aggressively. Late last year, it hired 70 private bankers from RBS Coutts Bank in Singapore. Next month, Hanspeter Brunner, formerly of RBS, will take over as BSI's chief executive in Asia, also based in Singapore.
瑞士的嘉盛莱宝(Bank Sarasin & Co.)是另一个在亚洲大举扩张的特定目标市场追求者。一位发言人表示，2007年12月到2009年6月，嘉盛莱宝的在亚洲和中东的私人财富资产增长近 三成，达到108亿瑞士法郎（合101亿美元）。为进一步吸引亚洲的资金，嘉盛莱宝下个月将在香港开设一家私人银行分支机构。为扩大影响，该公司曾在地处 香港繁华地带中环、两条主干道相交之处的一幢写字楼上悬挂广告条幅。
Switzerland's Bank Sarasin & Co. is another niche player aggressively seeking expansion in the region. Between December 2007 and June 2009, Bank Sarasin's private wealth assets in Asia and the Middle East rose nearly 30% to 10.8 billion Swiss francs (US$10.1 billion), a spokeswoman said. In its effort to pursue Asian money with even more vigor, Sarasin is opening a private banking branch in Hong Kong next month. To get the word out, the firm had draped a banner across an office building at the corner of two major thoroughfares in the city's busy Central district.
这家拥有169年历史的私人银行也在向新加坡监管机构申请接受本币存款的执照。预计将在2011年获批，其本土客户基础可能因此而扩大。
The 169-year-old private bank is also applying for approval from Singaporean regulators, expected to be granted in 2011, for a license allowing it to accept deposits in the local currency, which could increase its base of local clients.
另外，嘉盛莱宝还在通过从规模更大的竞争对手手中挖来经验丰富的私人银行家，来扩大它在亚洲的客户数量。最为引人注目的是，它聘请原来在瑞士银 行(UBS)工作的巴尔基(Grace Barki)掌管它的东南亚业务。在瑞士银行期间，巴尔基负责的是印度尼西亚和菲律宾的业务。同样来自瑞银的Febby Avianto负责嘉盛莱宝的印尼团队，印尼是他在老东家工作时就关注的一个市场。
As well, the Swiss bank is boosting headcount in Asia by poaching experienced private bankers from bigger rivals. Most notably, it hired Grace Barki to head its Southeast Asia business from UBS, where she led efforts in Indonesia and the Philippines. Another UBS recruit, Febby Avianto, joined to head Sarasin's Indonesia team, a market he focused on while at his previous employer.
甚至是非金融企业也看到了入场机会。英国律师事务所Herbert Smith LLC最近决定将其私人客户业务扩展到亚洲。到目前为止，它在亚洲的服务还严格限制在企业客户范围内。
Even nonfinancial firms see an opportunity to step in. U.K. law firm Herbert Smith LLC recently decided to expand its private client business to Asia, where, until now, it has offered its services strictly to corporate clients.
该公司驻伦敦合伙人泰斯赫斯特(Rupert Ticehurst)将负责这一行动。他说，亚洲企业主正在越来越多地要求在个人事务上获得帮助，比如接班规划、纳税、信托服务和慈善。此外一位发言人 说，衰退之中，事务所在欧洲的业务减少了。泰斯赫斯特表示，我对亚洲的私人银行做了一次巡访，发现这里并没有多少服务于私人客户的律师。
Rupert Ticehurst, a London-based partner at the firm who will lead the effort, says Asian business owners were increasingly asking for help with personal matters, such as succession planning, taxes, trust services and charities. In addition, a spokesman said, the law firm's practice in Europe had less to do there amid the recession. 'I did a tour of private banks in Asia, and discovered there aren't many private client lawyers here,' Mr. Ticehurst says.