ABN AMRO is planning to expand its private investor products division, which structures derivatives-based investment products for retail and high-net-worth investors, into Tokyo early next year. Miles Ashton, head of sales for Asian private investor products in Hong Kong, said after two years building up coverage of Asia ex-Japan the bank felt it has established itself and is ready to expand.
"Tokyo is a market that cannot be ignored," Ashton said, adding there is increasing demand there for international products and a large base of potential clients. He said the firm will be hiring, declining to elaborate.
ABN currently has an Asian PIP presence in Hong Kong, Taiwan, China, Korea and Singapore--which also covers Indonesia and Malaysia.
ABN also has its eyes on India for further expansion, where there is a strong consumer banking presence. "India will be [another] key new market for PIP in 2007," he said. "There are significant regulatory hurdles...but the consensus is that they will ease over the next couple of years."
