Amid slumping Asian markets and a dimmer outlook for deals this year, bankers in Asia are going back to basics: managing money for wealthy clients.
Global banks from Goldman Sachs to Standard Chartered are deploying new tactics to gather more assets from Asia's wealthy families. Firms are hiring more private bankers and culling clients from other parts of the bank. Bankers want to show clients their advice is needed in turbulent times. They are also pouring on perks, offering clients access to ritzy cars and events around the world.