Challenges and Opportunities for the Wealth Sector in Singapore

Synopsis

This report is the result of WealthInsight’s extensive research covering the HNWI population and Wealth Management industry in Singapore.

Summary

This report is a thorough analysis of Singapore’s Wealth Management and Private Banking sector, and the opportunities and challenges that it faces. In addition to providing a comprehensive and robust background of the Singapore economy, including, uniquely, detailed analysis of economic and political risks to HNWI wealth creation, the report provides robust projections of the volume and wealth of Singapore’s HNWI.

Scope

The report features:

• Independent market sizing of Singapore’s HNWI
• Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Singapore
• Current insights into the drivers of HNWI wealth
• Family office information

Reasons To Buy

• The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the Database comprises up to one hundred data-points on over 100,000 HNWI, private banks, wealth managers and family offices around the world. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
• Comprehensive forecasts to 2015.
• Asia is the fastest growing region in the world in terms of wealth. Financial centres such as Singapore and Hong Kong are ideally located to benefit from this new wealth.

Key Highlights

• The Asia-Pacific wealth management sector (excluding Japan and Australia) grew from assets under management (AuM) of US$650 billion in 2007 to over US$1.3 trillion in 2011. Singapore on its own constitutes 30% of this figure with AuM of over US$550 billion.
• Singapore is the second-largest offshore private banking center in the world, after Switzerland.
• By 2015, Singapore is expected to gain significant ground on Switzerland. This will be fueled by Asia-Pacific HNWIs and by an increasing number of global clients moving their offshore funds from other jurisdictions to Singapore.
• Singapore has positioned itself as the region’s leading financial center and is the prime candidate to take advantage of the large capital flows that are expected to flow into China, India and Indonesia over the forecast period.