Private banks, which offer high-end investment and tax management services for individuals with more than US$5 million, are being drawn to a market where individual wealth is expected to hit US$8 trillion in 2007, from $4.8 trillion in 2000.

KPMG polled nearly 190 private banks worldwide, and one-third said they have a strategy calling for an acquisition within the next three years.

"Those that were interested in other markets had their focus on Asia," Bonn Liu, principal in KPMG's financial services group, said in an interview.

Asia-Pacific accounted for 41 percent of all private banking deals last year, compared with 23 percent in 2000, and KPMG expects that trend to continue.

But Western private banks on the prowl have their work cut out for them in Asia, KPMG executives said.

"In Europe... you've got a good set of data to work with," said Rupert Chamberlain, a director in transaction services at KMPG. "In Asia, your first hurdle is getting a reliable data set."

Global players like UBS, Credit Suisse and HSBC have long histories and successful track records in Asia, where they have become the market's biggest providers.

That success draws upstarts, but the market is daunting.

"There's a lot of visitors that come through," said Liu. "Sometimes it's amazing how little they know the market."

There are not many pure-play Asian private banks that can be targeted, but many domestic banks have private banking arms that may be spun off.

"I should think most of them are examining their strategies," said Chamberlain, noting how expensive it is to serve the rich. "You need to have a certain critical mass to be sure margins don't erode."