Thailand's billionaires set to increase by 30%

The number of rich people in Thailand will continue to grow at a higher rate, boosting the private banking business, according to wealth managers. Lombard Odier is seeing a growth of private banking business-wealth management for high net worth individuals in the country. "If you take HNWIs today in Thailand, they are growing more than 10% a year. If you take people with wealth over $50m they are growing by 20% to 25% and billionaires are growing 30% a year," Vincent Magnenat, Lombard Odier's chief executive officer for Asia Pacific, said. He added that the top private bankers in A...