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Published by: Business Insights
Published: Aug. 1, 2001 - 170 Pages
Table of Contents
Executive Summary
- Introduction
- The wealth management market
- Categories of wealthy individuals
- The diversity of wealth management providers
- Expanding equity culture
- The transatlantic trail
- Investment thresholds
- Drivers of wealth creation
- Resistors to the provision of wealth management services
- The importance of branding
- Case studies
- The globalisation of wealth management providers
Chapter 1 Introduction
- Aim of the report
- Methodology
- Report overview
- Executive Summary
- Chapter 1 Introduction
- Chapter 2 The industry context
- Chapter 3 Issue analysis
- Chapter 4 Changing wealth management demographics
- Chapter 5 Overview of wealth management in continental Europe
- Chapter 6 Switzerland - the home of private banking
- Chapter 7 Case studies
- Data inconsistencies
- Errors and omissions
- Glossary
Chapter 2 Industry Context
- Introduction
- Market size
- Profile of wealth management providers
- Alliances to meet complex client demands
- Banks targeting the market
- Market segmentation
- A classification in terms of the wealth of its clients
- A classification in terms of the range of products and services offered
- Investment thresholds
- Aberdeen Asset Managers
- Barclays Private Banking
- ADM Investor Services
- Carr Sheppards Crosthwaite
- Charles Schwab
- Chiswell's
- Fleming Private Asset Management
- Global Asset Management
- Henderson Investors Private Asset Management
- Laing & Cruickshank
- Martin Currie Private Clients
- Duncan Laurie Private Bankers
- Gerrard
- Invesco Private Portfolio Management
- Credit Suisse
- Killik & Co.
- Kleinwort Benson Private Bank
- Lazard Asset Management
- Leopold Joseph
- Martin Currie Private Clients
- Merrill Lynch International Bank
- Merrill Lynch/HSBC
- Murray Johnstone Private Investors
- NCL Investments
- Natwest Stockbrokers
- Newton Investment Management
- Noble Asset Managers
- Principal Investment Management
- Rathbone Investment Management
- Russell Wood
- Schroder Personal Investment Management
- Singer & Friedlander
- Taylor Young Investment Management
- Teather & Greenwood
- Vartan & Son
- Walker, Crips, Weddle, Beck plc
- Products and services
- Product manufacturers versus distributors
- Core competencies in wealth management
- Banking
- Asset management
- Changing patterns of asset allocation
- Ethical investments
- Innovative products
- Technology
- Fiduciary services
- Branding
- A new corporate discipline
- Global branding
- Digital branding
- Recent changes in branding
- Customer services
- Business models
- Independently managed private banks
- High street banks providing premier and private banking services
- Private client stockbrokers and investment firms
- Universal banks
- Swiss boutique private banks
- Other providers of non-financial services
Chapter 3 Issue Analysis
- Introduction
- Drivers of wealth creation
- Stock market flotations
- Technology
- Spreading of equity culture
- Demographic factors
- Intangible factors
- Lotteries and gambling
- The financial institutions themselves
- Resistors
- Introduction
- Clients
- The wealth management industry
- Strategies for overcoming resistance
- The future of wealth management - a note of caution
- Is the wealth management sector overserviced?
Chapter 4 Changing Wealth Management Demographics
- Categories of HNWIs
- Senior citizens (Retirees)
- The economically active, or 'earners'
- Inheritors
- Other groups
- Divorcees
- Unexpected wealth
- The shift from old to new money: clients' rising expectations
- HNWIs in the US
Chapter 5 Europe
- Introduction
- Germany
- Population profile
- Changing investment culture and patterns (global)
- The wealth of German households
- Distribution of net money assets in Germany
- Tax reform
- German banks serving the wealth management market
- Deutsche Bank
- Dresdner Bank
- France
- Wealthy individuals in France
- Population profile
- The economy
- The banking system
- Retail banks
- BNP Paribas
- Societe Generale
- Cooperative Banks
- Credit Agricole
- International banks
- Italy
- The banking system
- Population profile
- Spain
- Population profile
- Rapid rise in equity culture
- Financial system
- Banking
- Online trading
Chapter 6 Switzerland - The Home of Private Banking
- Introduction
- Demographics
- Swiss private banks
- Darier Hentsch & Cie
- Pictet & Cie
- New products and services
- eBusiness
- Expansion
Chapter 7 Case Studies
- Introduction
- American Express
- Overview
- American Express Bank and Travellers Cheques
- American Express Financial Advisers
- Small Business Services
- Technologies Unit
- Travel Related Services
- American Express relationship services
- The Consumer Card Services Group
- Corporate Services
- Establishment Services
- Targeting wealthy clients
- Fiduciary services
- Fiduciary structures
- Barclays
- Overview
- Range of private banking services
- Attracting clients
- Premier Banking
- Expanding the Premier service
- Products and services
- eBanking
- Coutts
- Business overview
- Business model
- Wealth management
- Products and services
- Client base
- The Coutts brand
- In-house training
- Coutts online
- Credit Suisse
- Business overview
- Group structure
- Group results
- Private banking services
- The global marketplace
- Credit Suisse private banking results 2000
- Products and services
- Developing the client's investment profile
- Pursuit of the lifecycle model strategy
- Other private client services
- Client base
- eBusiness
- New multi-channel business model
- Deutsche Bank
- Overview
- Results
- Restructuring for wealth management
- Products and services
- The Family Office
- Presence in Switzerland
- eBanking
- HSBC
- Launch of online wealth management service
- Financials
- Growth strategies
- Business model
- New products and services
- Online services
- MyCFO
- Business overview
- Security and privacy policies
- The use of one-off cookies
- User-friendly website
- N.M. Rothschild & Sons Ltd.
- Business overview
- Wealth management services
- Offshore banking facilities: Rothschild in Guernsey
- Products and services
- Bullion dealing
- International payments
- Credit services
- Internet banking
- Singer & Friedlander
- Business overview
- Client base
- Fee structure
- Guideline for investors
- Products and services
- Choice of portfolios
- Capital growth portfolio
- Balanced portfolio
- Income portfolio
- International (including UK) portfolio
- Ethical portfolio
- Business model
- Investment philosophy - aiming for undervalued growth stocks
- Asset allocation
- Risk control
- Customer services
- Website
- UBS
- Business overview
- Organisation of private banking
- UBS PaineWebber's wealth management philosophy
- Strategies for serving clients
- Range of services provided
- Wealth planning model
- Banking services
- International banking
- Online services
List of Figures
Figure 2.1: Private banking services span the top of the wealth management ladder, 2000
Figure 2.2: Wealth management market map: the positioning by wealth of clients and range of services, 2000
Figure 2.3: US: wealth management services model, 2000
Figure 2.4: Successful brand building in wealth management, 2000
Figure 2.5: Independently managed private bank business model, 2000
Figure 2.6: High street bank private bank business model, 2000
Figure 2.7: Private client asset managers and stockbrokers business model, 2000
Figure 2.8: Universal bank private bank business model, 2000
Figure 2.9: Swiss boutique private bank business model, 2000
Figure 4.10: US: growth in family wealth - over 50s, 1983-98
Figure 5.11: HNWI wealth by region, 1998-2005
Figure 5.12: Regional distribution of HNWIs and HNWI wealth, 2000
Figure 7.13: Monitoring of investment managers' perfomance
Figure 7.14: American Express International Deposit Company
Figure 7.15: Barclays' segmentation of its client base
Figure 7.16: Coutts Group place within the Royal Bank of Scotland Group, 2000
Figure 7.17: Coutts: logo
Figure 7.18: Credit Suisse: group structure
Figure 7.19: Credit Suisse: global private banking marketing groups
Figure 7.20: Credit Suisse: assets under management, 1996-2000
Figure 7.21: Credit Suisse: preparing the client investment profile
Figure 7.22: Credit Suisse: client investment profile versus risk/return ratio
Figure 7.23: Credit Suisse: wealth management through the client's lifecycle
Figure 7.24: Deutsche Bank: new group management structure
Figure 7.25: Deutsche Bank: new financial targets through 2003
Figure 7.26: Wealth management services offered by the HSBC Group, 2000
Figure 7.27: Singer & Friedlander: range of investment services
Figure 7.28: UBS Group: organisation chart
Figure 7.29: UBS: private banking organisation chart
List of Tables
Table 2.1: Geographical distribution of wealth amongst billionaires, 1998-2000
Table2.2: Growth in high networth wealthbyregion
Table 4.3: The five wealthiest individuals in the US, 2000
Table 5.4: Germany: demographic profile, 2000
Table 5.5: Germany: distribution of net money assets, 1999
Table 5.6: Germany: distribution of net money assets, 1999
Table 5.7: France: demographic profile, 2000
Table 5.8: Italian companies ranked by market capitalisation, 2001
Table 5.9: Italy: demographic profile, 2000
Table 5.10: Spanish population profile by social classification, 2000
Table 6.11: Largest banks in Switzerland by operating revenue*
Table 6.12: Largest banks in Switzerland by assets under management
Table 6.13: Largest banks in Switzerland by fees and commissions, 1999
Table 6.14: Switzerland: demographic profile, 2000
Table 7.15: Credit Suisse: 1999/2000 results
Table 7.16: Credit Suisse Private Banking: 1999/2000 in figures
Table 7.17: HSBC: geographic breakdown of results
AbstractThe wealth management market is growing at a phenomenal rate, with total investable wealth in some European countries currently in the region of more than £10,000 bn. During the next five years, the investable wealth will have almost doubled, with nearly half the total being held by the super-wealthy. To gain and retain a slice of this highly lucrative market, banks and other financial service providers are setting up specific onshore and offshore operations, acquiring new products and services through consolidations, mergers and acquisitions. The Wealth Management Outlook 2001, a new strategic management report, focuses on the explosion of wealth and the examines latest trends among the major players in Europe, the drivers, resistors and the innovative ways of delivering products and services such as interactive digital TV.
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