Things are in limbo in Asia.

Retail banking post-mini bonds and with FATCA have all but come to a standstill for fund distribution.

Wealth is booming, but not for traditional mutual funds. Institutions are looking to alternatives to satisfy the demand for protection and yield. Private banking and wealth management, thus, is what many in the industry are focusing on.

Pictet, for example, is one of the few firms in the last few years able to successfully realign and alter their brand – including their blockbuster product range.

Multi-brand chameleon: Pictet in Switzerland is one of the oldest and most prestigious private banking brands worldwide, an asset to be leveraged worldwide by Swiss banks as their domestic business is facing significant challenges (see also Julius Baer, Sarasin, et al).

In Japan, Pictet has been able to build a retail brand around monthly income distribution as well as thematic products.

Pictetfunds internationally has established a series of diverse blockbusters sold cross order and locally, ranging from alternatives to themes, global multi-asset, and EM debt with a focus on local currencies. Now Asian Investor in an interview with partner Renaud de Planta announced greater expansion in Asia both for EMD and HK equities.

I am currently working on a white paper co-authored by Brown Brothers Harriman and Strategic Insight on private banking trends in Asia, with a few highlights recently shared in a column for Ignites Asia.

With the massive opportunities for Asia private banking, the challenges are to create more uniform and efficient standards between private banks and investment funds in a multi-fragmented, multi-lingual, multi-cultural and multi-regulatory region of diverse approaches and infrastructures.

The paper discusses the challenges faced by private banks in Asia to select and administer funds in an open architecture environment with appropriate infrastructure as they monitor a greater number of managers and funds, but choose to work with fewer strategic partners.

As business and investment complexities increase, a myriad of factors impact private banking relationships and success in Asia: on the ground presence for ever more sophisticated and demanding clients, local commitment and specialist support, margin and cost pressures, changing operating models, regulatory overhaul, globalization of business models, multiple gatekeeper relationships, economies of scale and tailored information delivery.

Many firms are willing to take the plunge, either for the first time or to renew their vows.

A few examples:

– Interview with Jaime de la Barra on Asia-LatAm links and opportunities.

– Julius Baer seeing Singapore as second home market and bulking up assets with Merrill deal.

– Aberdeen emphasizing Asia investment and business opportunities during their Annual UK Investment Conference in Scotland,