Asia fastest growing, says Merrill

Merrill Lynch said on Monday that Asia will be the fastest growing region for its private client wealth management business, due to higher economic growth and a surge in offshore Chinese wealth.

8216;8216;I8217;m expecting business here to grow at twice the rate of our non-Asian businesses around the world,8217;8217; James Gorman, head of Merrill8217;s Global Private Client Group, told a news conference. The financial services giant manages 1.3 trillion in assets of individuals and small businesses, mostly in the US.

-Reuters