Citi analyst Craig Williams noted that the banks' wealth arms, largely acquired in the early 2000s, had not become "the fast growing, low capital intensive earnings stream" the lenders had expected.
Christo Wiese is third on South Africa’s rich list, with an estimated worth of £4.2bn, and is buying up assets in the UK
The bank bought back 300,750 bearer shares and 114,080 registered shares under the scheme announced on June 18.
Andrew Cohen, head of the Asian private bank, finds the region’s wealthy are more open to taking advice.
DBS Private Bank, which snapped up Société Générale's Asia private banking business for $220 million last year, is still on the look-out for acquisitions as it seeks to burnish its regional ambitions.
Rothschild Group, the well-known family controlled banking firm based in London, has joined forces with CID Group, a private equity firm from Taiwan, to invest $50 million in Chinese online retailer