ABN Amro is seeking 30% to 50% growth in assets at its Taiwan wealth management division by the end of 2009, from T$100 billion (2.1 billion) this year, according to a Reuters report.
However, Emerald Shih, ABN Amro’s country business manager of consumer clients, told Reuters the bank expects its fee income to fall this year.
“Good banks could see their fee income falling 10% to 20% this year, while weak lenders see declines of 50% to 60%, says Shih. “ABN Amro also plans to hire 150 financial planners this year, bringing its total to 409.”