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Middle Eastern Wealth Management - 2nd Edition
VRL Financial News Publishing, June 2010
As the market redefines itself over the next five years, wealth managers must rely on product innovation to meet the demands of the region's growing HNWIs for a greater choice of investment. However, simply providing products is the smaller part of customer acquisition/retention strategy, as only high-touch customer services will provide a distinctive value proposition.
Containing proprietary data and research, and combined with market leading case studies, it is the only source you need to maximise the efficiency, and essentially increase the profit of, your wealth management portfolio for the Middle Eastern market.
The four key factors that are currently reshaping wealth management in the Middle East:
- rapid economic growth and commercial diversification
- a younger demogtaphic profile
- a new demand for Shariah-compliant products
- changing culture attitudes
These factors coupled with macro-economic factors such as economic liberalisation, banking reform and the need to achieve economic diversification beyond petroleum-based financial activities is providing wealth managers with a host of new opportunities and a few challenges.
As the market becomes awash with products, two things will act to differentiate the wealth management services between competitors: return on investment and service. Middle Eastern HNWI customers can readily access individual product performance, but value for money is a result of the combination of products and services.
This key findings from the new edition of this report are:
- Wealth management clients in the Middle East want managers who can seamlessly move across product offerings, between traditional and alternative investments and across geographic boundaries to find new opportunities.
- There is a shortage of talented bankers and fund managers who can navigate the myriad of regulations, emerging products and an increasingly competitive environment.
- Clients require a multi-generational relationship and measure performance on total asset appreciation
- Many nations in the region are tax-free environments, thus clients are more performance conscious.
Case studies include: ABC Islamic Bank, Abu Dhabi Commercial Bank, Ahli United Bank, Al Safa Islamic Banking, ANB Investment Services, Arab National Bank, Arcapita, Asian Finance Bank, Bank of Bahrain & Kuwait, Banque Saudi Fransi, Doha Bank, Dubai Islamic Bank, European Finance House, Gulf International Bank, Investcorp, National Bank of Abu Dhabi, National Bank of Dubai, National Bank of Kuwait, National Bank of Oman, Emirates Bank International, Gulf Bank, Kuwait Finance House, Mashreq Bank, Qatar Islamic Bank, Qatar National Bank, QINVEST, Riyad Bank, Samba Financial Group, Saudi Investment Bank, Shamil Bank Bahrain, United Gulf Bank, and Union National Bank.
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