This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Turkey.
The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country’s HNWIs have performed through the crisis.
There are just over 94,000 HNWIs and 1,923 UHNWIs in Turkey in 2012. This report reviews the performance and asset allocations of HNWIs and Ultra HNWIs (UHNWIs) in Turkey, and highlights top-performing cities. It also includes an evaluation of the local wealth management industry.
Independent market sizing of Turkish HNWIs across five wealth bands
HNWI volume, wealth and allocation trends from 2007 to 2012
HNWI volume, wealth and allocation forecasts to 2017
HNWI and UHNWI asset allocations across 13 asset classes
Number of UHNWIs and UHNWI growth rates in every state
Number of UHNWIs in all major cities
Fastest growing cities for UHNWIs (2007-2012)
Number of wealth managers in each city
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 Turkey
Size of the Turkish wealth management industry
Detailed wealth management and family office information
Insights into the drivers of HNWI wealth
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 profiles on major private banks, wealth managers and family offices in each country.
The WealthInsight Intelligence Center Database also includes up to one hundred data-points on over 100,000 HNWIs from 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.
Report includes comprehensive forecasts to 2017.
Also provides detailed information on UHNWIs in each major city.
There were just over 94,000 HNWIs in Turkey in 2012. These HNWIs held US$500 billion in wealth, which equates to 43% of total individual wealth held in the country.
At the end of 2012, Turkish HNWIs held 26.6% (US$138 billion) of their wealth outside their home country, which is in line with the worldwide norm of between 20% and 30%.
WealthInsight expects foreign asset holdings to reach US$195 billion by 2017 when they will account for 26.4% of total HNWI assets.
Istanbul is the largest city for Turkish UHNWIs, accounting for 58% of total UHNWIs with 1,110 individuals. There are also sizable UHNWI populations in Ankara (200 UHNWIs), Izmir (50 UHNWIs), Antalya (40 UHNWIs) and Bursa (30 UHNWIs).
Bursa was the top performing city for UHNWIs, with numbers rising by 58% from 19 in 2007 to over 30 in 2012. This rise occurred as many foreign companies chose to build their headquarters in and around the city. Major industries in the city include automotive, textiles, FMCG and tourism (skiing).
As of 2012, there are 28 private banks active in Turkey.
The largest domestic private banks are Garanti and Yapı Kredi.