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2012 BRICS Wealth Book Product Image

2012 BRICS Wealth Book

  • Published: September 2012
  • Region: Global, Brazil, China, India, Russia, South Africa
  • 111 Pages
  • WealthInsight Ltd

FEATURED COMPANIES

  • Absa Wealth (Barclays)
  • Citibank
  • Goldman Sachs
  • Lloyds TSB
  • Pictet
  • Santander
  • MORE

Synopsis

This report is the result of WealthInsight’s extensive research covering the HNWI population and wealth management industry in China, India, Brazil, Russia and South Africa.

Summary

As of 2011, there are approximately 1.9 million HNWIs in the BRICS, with a combined wealth of US$7.5 trillion. This report reviews the performance of HNWIs and Ultra HNWIs in each country and highlights the top performing cities. It also includes an evaluation of the wealth management industry in each country.

Scope

The report features:

- HNWI volume, wealth and allocation trends from 2007 to 2011 for each country

- HNWI volume, wealth and allocation forecasts to 2016 for each country

- Number of UHNWIs in each city

- Fastest growing cities for UHNWIs

- City wise ratings of wealth management saturation and potential

- Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in each country

- Size of the wealth management industry in each country

- Largest private banks in each country by AuM

- Detailed wealth management and family office information

- READ MORE >

Table of Contents

1 Introduction
1.1 What is this Report About?
1.2 Definitions
2 Executive Summary
3 Benchmarking BRICS Wealth in Context
3.1 Distribution of Wealth
3.2 HNWI Volume and Wealth Trends
4 Findings from the WealthInsight HNWI Database
4.1 BRICS by HNWIs
4.2 BRICS by UHNWIs
4.3 Top Cities for UHNWIs in 2011
4.4 Fastest-Growing Cities for UHNWIs over the Review Period
4.5 Fastest-Growing Cities for UHNWIs over the Forecast Period
4.6 Top Cities for UHNWIs in 2016
4.7 India
4.7.1 Indian UHNWIs – breakdown by city
4.7.2 Indian city performance
4.7.3 Indian city forecasts
4.8 China
4.8.1 Chinese UHNWIs – breakdown by region
4.8.2 Chinese city performance
4.8.3 Chinese city forecasts
4.9 Brazil
4.9.1 Brazil’s UHNWIs – breakdown by city
4.9.2 Brazil’s UHNWIs – city performance
4.9.3 Brazil’s UHNWIs – city forecasts
4.10 Russia
4.10.1 Russia’s UHNWIs – breakdown by city
4.10.2 Russia’s UHNWIs – city performance
4.10.3 Russia’s UHNWIs – population densities
4.10.4 Russia’s UHNWIs – city forecasts
4.11 South Africa
4.11.1 South Africa’s UHNWIs – breakdown by city
4.11.2 South Africa’s UHNWIs – city performance
4.11.3 South Africa’s UHNWIs – population densities
4.11.4 South Africa’s UHNWIs – city forecasts
4.11.5 South Africa’s UHNWIs – Johannesburg
4.11.6 South Africa’s UHNWIs – Cape Town
4.11.7 South Africa’s UHNWIs – Durban and Pretoria
4.11.8 South Africa’s UHNWIs – smaller cities
5 Analysis of HNWI Investments
5.1 Asset Allocation
5.1.1 India
5.1.2 China
5.1.3 Brazil
5.1.4 Russia
5.1.5 South Africa
5.2 Global Trends in “Art, Wine and Wheels”
5.3 Global Trends in Prime Property
6 The Wealth Sector in the BRICS
6.1 India
6.1.1 Wealth managers
6.1.2 Private banks
6.1.3 Foreign banks and MNCs
6.1.4 Joint ventures
6.1.5 Domestic providers
6.1.6 Leading companies in the wealth management industry
6.1.7 Family offices
6.1.8 Multi-family offices
6.1.9 Single-family offices
6.2 China
6.2.1 A paradigm shift
6.2.2 Competitive structure
6.2.3 Wealth managers
6.2.4 Private banks
6.2.5 Foreign banks and MNCs
6.2.6 Joint ventures
6.2.7 Domestic providers
6.2.8 Trusts
6.2.9 Leading companies in the wealth management and private banking industry
6.2.10 Family offices
6.2.11 Multi-family offices
6.2.12 Single-family offices
6.2.13 Offshore wealth management and private banking industry
6.3 Brazil
6.3.1 Competitive Landscape
6.3.2 Private banks
6.3.3 Wealth managers
6.3.4 Wealth management in each city
6.3.5 Family offices
6.4 Russia
6.4.1 Private Banks
6.4.2 Wealth managers
6.4.3 Family offices
6.4.4 Wealth management in each city
6.5 South Africa
6.5.1 Competitive landscape
6.5.2 Private banks
6.5.3 Wealth managers
6.5.4 Family offices
6.5.5 Wealth advisors
6.5.6 Wealth management in each city
6.5.7 Fund management in South Africa 1
7 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions
Table 2: BRICS: HNWIs – Number of HNWIs, 2007–2016
Table 3: BRICS: UHNWIs – Number of UHNWIs, 2007–2016
Table 4: BRICS: UHNWIs – Top 30 cities for UHNWIs, 2011
Table 5: BRICS: UHNWIs – Top 20 Fastest-Growing Cities for UHNWIs, 2007–2011
Table 6: BRICS: UHNWIs – Top 20 Fastest-Growing Cities for UHNWIs, 2011–2016
Table 7: BRICS: UHNWIs – Top 30 cities for UHNWIs, 2016
Table 8: India: UHNWIs – Top Cities for UHNWIs, 2011
Table 9: India: UHNWIs – Major Cities, 2007–2011
Table 10: India: UHNWIs – Emerging Cities, 2007–2011
Table 11: India: UHNWIs – WealthInsight city ratings and forecasts to 2016
Table 12: China: UHNWIs – Top Cities for UHNWIs, 2011
Table 13: China: UHNWIs – Major Cities, 2007–2011
Table 14: China: UHNWIs – WealthInsight City Ratings and Forecasts to 2016
Table 15: Brazil: UHNWIs – Top Brazilian Cities for UHNWIs, 2011
Table 16: Brazil: UHNWIs – UHNWI Population Density in Major Cities, 2011
Table 17: Brazil: UHNWIs – Growth Rates for Top 14 Cities, 2007–2016
Table 18: Russia: UHNWIs – Top Cities, 2011
Table 19: Russia: UHNWIs – Smaller Cities, 2011
Table 20: Russia: UHNWI Population Density in Major Cities, 2011
Table 21: Russia: UHNWI Growth Rates for Top Cities, 2007–2016
Table 22: South Africa: UHNWIs – Top South African Cities for UHNWIs, 2011
Table 23: South Africa: UHNWIs – UHNWI Population Density in Major Cities, 2011
Table 24: South Africa: UHNWIs – UHNWI Growth Rates for Top Cities, 2007–2016
Table 25: South Africa: UHNWIs – Johannesburg, UHNWIs by Suburb, 2011
Table 26: South Africa: UHNWIs – Cape Town, UHNWIs by Suburb, 2011
Table 27: South Africa: UHNWIs – Durban, UHNWIs by Suburb, 2011
Table 28: South Africa: UHNWIs – Pretoria, UHNWIs by Suburb, 2011
Table 29: South Africa: UHNWIs – Other Hotspots, 2011
Table 30: South Africa: UHNWIs – Large Cities with Low Numbers of UHNWIs, 2011
Table 31: BRICS: HNWIs – Asset Class Composition, 2011
Table 32: Global: Trends in “Art, Wine and Wheels”, 2007–2011
Table 33: Global: HNWIs – Prime International Cities, 2007–2011
Table 34: India: Wealth Management Industry – Main Companies Operating in India
Table 35: India: Wealth Management Industry – Major SFOs and MFOs Operating in India
Table 36: China: Major Companies in China’s Wealth Management and Private Banking Industry
Table 37: Brazil: Largest Private Banks in Brazil, 2011
Table 38: Brazil: Emerging Private Banks in Brazil, 2011
Table 39: Brazil: Wealth Manager Asset Allocation in Brazil, 2011
Table 40: Brazil: Wealth Management Companies Per City, 2011
Table 41: Brazil: Family Offices in Brazil
Table 42: Russia: The Largest Private Banks (US$ Billions) 2011
Table 43: Russia: Other Private Banks, 2011
Table 44: Russia: Local Wealth Managers, 2011
Table 45: Russia: Multi-Family Offices, 2011
Table 46: Russia: Wealth Management Companies Per City, 2011
Table 47: South Africa: The Largest Private Banks in South Africa, 2011
Table 48: South Africa: Local Wealth Managers, 2011
Table 49: South Africa: Foreign Wealth Managers Operating in South Africa, 2011
Table 50: South Africa: Wealth Advisors in South Africa
Table 51: South Africa: Wealth Management Companies Per City, 2011
Table 52: South Africa: The largest fund managers in South Africa, 2010

List of Figures
Figure 1: HNWI Wealth Band Definitions
Figure 2: Global: Asset Price Performance, 2007–2011
Figure 3: BRICS, Local Currencies versus US Dollar, 2007–2011
Figure 4: BRICS: HNWI Performance (US$ Billion), 2007–2016
Figure 5: BRICS: HNWIs – Number of HNWIs, 2007– 2011
Figure 6: BRICS: HNWIs – Number of HNWIs, 2011–2016
Figure 7: BRICS: UHNWIs – Number of UHNWIs, 2007–2011
Figure 8: BRICS: UHNWIs – Number of UHNWIs, 2011– 2016
Figure 9: India: UHNWIs – Regional Distribution by City, 2011
Figure 10: India: UHNWIs – City Performance, 2011
Figure 11: India: UHNWIs – City Performance, 2011
Figure 12: China: UHNWIs – Regional Distribution by Region, 2011
Figure 13: China: UHNWIs – Regional Distribution, 2011
Figure 14: China: UHNWIs – City Comparison, 2007–2011
Figure 15: Brazil: UHNWIs – City Performance, 2007–2011
Figure 16: Brazil: UHNWIs – Regional Forecasts, 2011–2016
Figure 17: Russia: UHNWIs – City Performance, 2007–2011
Figure 18: Russia: UHNWIs – City numbers, 2007–2011
Figure 19: Russia: UHNWIs – Regional Forecasts, 2011–2016
Figure 20: Russia: UHNWIs – City Numbers, 2011–2016
Figure 21: South Africa: UHNWIs – City Performance, 2007–2011
Figure 22: South Africa: UHNWIs – Regional Forecasts, 2011–2016
Figure 23: BRICS: HNWIs – Asset Class Composition, 2011
Figure 24: India: HNWIs – Asset Class Composition, 2007–2016
Figure 25: China: HNWIs – Asset Class Composition, 2007–2016
Figure 26: Brazil: HNWIs – Asset Class Composition, 2007–2016
Figure 27: Russia: HNWIs – Asset Class Composition, 2007–2016
Figure 28: South Africa: HNWIs – Asset Class Composition, 2007–2016
Figure 29: Global: Trends in “Art, Wine and Wheels”, 2007–2011
Figure 30: BRICS: Wealth Management Industry – Maturity Level Of Players
Figure 31: India: Wealth Management Industry – Structure
Figure 32: China: Offshore and Onshore Wealth Management Segments in China

HNWIs in BRICS have recovered well from the global economic crisis

- As of 2011, there are approximately 1.9 million HNWIs in the BRICS, with a combined wealth of US$7.5 trillion. This equates to 11.3% of worldwide HNWI volumes and 11.4% of total worldwide HNWI wealth.

- The total number of HNWIs in the BRICS increased by 30% over the review period.

- Growth in HNWI wealth and volumes will improve over the forecast period driven by strong growth in all BRICS countries. India and China are expected to lead the way.

- Over the forecast period, the total number of BRICS HNWIs is forecast to grow by 76%. HNWI wealth will see a slightly larger percentage increase, growing by 83% to reach US$13.7 trillion in 2016.

HNWI country trends

- At the end of 2011, 66% of BRICS HNWIs were based in China.

- The number of HNWIs in China increased by 40% over the review period, whilst HNWI volumes increased by 32% in India, 31% in Brazil and 18% in South Africa. Russia was the only country in the group to experience a decline in HNWI volumes (-18%).

- Over the forecast period, India is expected to experience the strongest growth in HNWI volumes (103%), followed by China with 83% growth, South Africa with 41% growth, Brazil with 40% growth and Russia with 36% growth.

UHNWIs - Volume and wealth trends

- At the end of 2011, 45% of BRICS UHNWIs were based in China. Brazil accounted for 24%, followed by India, Russia and South Africa.

- The number of UHNWIs in the BRICS increased by 31% over the review period, which was slightly higher growth than for all HNWIs (30% growth). China was the top performer with 59% growth with UHNWIs in India also performing well with UHNWI growth of 46%.

- Over the forecast period, UHNWIs in China and India are again expected to lead the way with growth of 79% and 94% respectively.

UHNWIs - Regional trends

- At the end of 2011, Beijing was the largest BRICS city for UHNWIs, followed by São Paulo, Shanghai, Moscow and Mumbai.

- Chongqing was the top performing BRICS city over the review period, with UHNWI volume growth of 78%.

- Pune and Bangalore are expected to be the fastest-growing BRICS cities over the forecast period to 2016, with UHNWI volume growth of 102% and 100% respectively.

Wealth management in the BRICS - Highlights

- Banco Itaú controls 25% of the Brazilian private banking market, followed by Bank of America (Merrill Lynch) with 8% and UBS with 7%.

- WealthInsight research shows that over 35% of Russian HNWI wealth was held offshore at the end of 2011.

- The current wealth management leaders in Russia are UBS and Credit Suisse. Other prominent foreign players include Pictet and Goldman Sachs.

- The leading locally based Russian private banks are UFG Invest, Troika Dialog and Third Rome.

- WealthInsight’s research shows that over 20% of South African HNWI wealth is held offshore. Most of this wealth is held in the UK, Switzerland and the Channel Islands.

- Absa Wealth (Barclays)

- BBVA

- BNP Paribas

- BoE Private Clients

- Citibank

- Credit Suisse

- Deutsche

- Goldman

- Goldman Sachs

- Haliwell Bank

- HSBC

- Investec Wealth & Investment

- JP Morgan

- Lloyds TSB

- Merrill Lynch

- Morgan Stanley

- Nedbank (Old Mutual)

- Pictet

- RBC

- RMB (FirstRand)

- Sanlam

- Santander

- Standard Bank

- Third Rome

- Troika Dialog

- UBS

- UFG Invest

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