Citi's Tay challenges Edhec's private wealth report

Private banks have taken fierce criticism in the past couple of years for alleged mis-selling of investment products. The latest negative comments come from French research organisation Edhec-Risk, but Jennifer Tay, Asia-Pacific head of investment advisory at Citi Private Bank, says some of the organisation's views are off the mark. The central finding of a late-September Edhec report* is that portfolio-optimisation techniques used by institutional investors can be transposed to priv…