Private Banking and Wealth Management Futures 2030: Greater China Perspectives (SpringerBriefs in Finance) by Jorn H Buhring

1. Introduction
Jörn H Bühring
Hong Kong Polytechnic University, Hongkong, China
Jörn H Bühring
Email: Joern.buehring@polyu.edu.hk
Abstract
In this chapter, the main arguments are put forward as to why leaders in
design and business innovation must not only adapt to the current
circumstances, but to think of, and prepare for the future. With the emphasis
placed on multi-disciplinary teams having to work together to identify with
macro and micro trends from which user engagement opportunities and
possibilities for consumer-directed value creation, the emergence of new
approaches toward imagining preferable futures are highlighted. The
chapter puts forward the notion that developing a deeper understanding of
the forward-looking perspectives which are relevant to Private Banking and
Wealth Management futures (greater China) to the year 2030. Here, the
Delphi method is introduced, which was used as a process to engage with a
cohort of business and academic experts with specific knowledge in the
field to arrive at a set of preferable wealth management futures scenarios.
Statements of the study objectives are presented, and the chapter concludes
with an outline of the research report outline and its contents.
Keywords Uncertainty – Visioning – Learning-based collaboration –
Delphi method – Action-oriented foresight
We are living in times of rapid change and transformation where
organizations and individuals are being challenged not only to adapt to
current circumstances, but to think of, and prepare for the future. Taking
steps toward gaining a deeper understanding of current and future
opportunities and possibilities, requires—foremost, vision and leadership
that enables organizational collaboration both internally and externally. To
this end, The Polytechnic University—School of Design in partnership with
a global industry leader, have set out to develop a shared understanding that
Design (principles, methods, and processes) can indeed play a significant
role in organizational leadership, innovation, and new value creation. This
applied research and design led innovation program operates under the
identity of “Ignite Innovation”.
In August 2015, the first project of this unique University-Industry
partnership program took place: “Project 1” involved a selected group of
Master and Bachelor degree students from various Design disciplines.
Supported and coached by academia, multi-disciplinary design
professionals engaged full-time over a period of four consecutive months
with stakeholders from the partner organization and their selected client
representations. The outcome depicts a new generation (Millennials) of
future Wealth Management and private banking users, and their related
product-, service-, and experiential needs, wants, and forward-looking
aspirations.
Inspirations derived from these initial learnings, and gaining valuable
insights into, for example, industry (business) practices, macro and micro
trends from which user engagement opportunities and possibilities for
consumer-directed value creation emerged, the program has evolved to this
next phase of engagement. Welcome to “Project 2—Private Banking and
Wealth Management Futures 2030—A Design Foresight Delphi study—
Greater China Perspectives”, where the underlining objectives were to
develop ambitious forward-looking perspectives from which we lay the
groundwork for accelerated collaborative learning, visioning, strategizing,
and design led innovation.
1.1 Inventing Preferable Futures—Why is this
Important?
It is widely believed that we are in a critical juncture in human history, and
speculations abound as to what is likely to lead to contrasting futures. World

Private Banking and Wealth Management Futures 2030: Greater China Perspectives (SpringerBriefs in Finance) by Jorn H Buhring