A pilot study conducted by WWF-Singapore predicts that total wealth management revenue in Asia will reach USD90bn by 2025, driven by a surge in the number of ultra-high net worth individuals (UHNWIs) in the region. The study involved seven private banks, including four headquartered in Asia, two in Europe, and one in the US. Notably, almost half of wealthy individuals under 40 showed interest in sustainable investment, suggesting significant opportunities as USD84tr transitions in wealth by 2045. However, the study highlighted areas for improvement in sustainability practices within the banking industry, underscoring the need for measurable targets, enhanced risk management, and dedicated sustainability roles.
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