Table of Contents
OVERVIEW
- Catalyst
- Summary
- Methodology
EXECUTIVE SUMMARY
- Datamonitor' s Wealth Management Opportunity Index gauges the relative
attractiveness of wealth markets
- The UAE represents the greatest opportunity of any Middle Eastern wealth
management market
- Qatar has experienced phenomenal growth and has positioned itself well as
an international business center
- Bahrain has experienced steady economic growth and is set to strengthen
its position as a wealth management center in the Middle East
DATAMONITOR' S WEALTH MANAGEMENT OPPORTUNITY INDEX
- Datamonitor' s Wealth Management Opportunity Index is a valuable tool for
assessing the relative attractiveness of wealth markets
- Institutional and economic variables, along with market size and features
are key measures of wealth management market attractiveness
- There are five key parameters when assessing a market for its wealth
management potential
- There are 18 components to the five key parameters of the wealth
management opportunity index
- Institutional factors
- Economic variables
- Wealth management market size
- Wealth management market features
- Wealth management client characteristics
- Datamonitor ranks the UAE, Qatar and Bahrain as the top three Middle
Eastern wealth markets
MARKET OVERVIEW
UAE
- UAE represents the greatest opportunity of any Middle Eastern wealth
management market
- The doors are wide open to new entrants and the market is increasingly
demanding high quality service
- A number of leading international private banks are active in the UAE
- Julius Baer was the first international private bank licensed to operate
in the DIFC
- Standard Chartered opened its first branch in the UAE in 1958
- Credit Suisse has had a dedicated wealth management office in Dubai
since 2005
- UBS offers a range of Islamic finance products and services alongside
its more traditional wealth offerings
- SG Private Banking has its Middle East regional office based in the DIFC
- HSBC is the largest and most widely represented bank in the Middle East
- There were 360,000 affluent individuals, with onshore liquid wealth of
$76,764 million in the UAE in 2008
QATAR
- Qatar is the world' s wealthiest country per capita and offers great
potential to international wealth management firms
- Qatar has experienced phenomenal growth and has positioned itself well as
an international business center
- NYSE Euronext has bought a stake in Qatar' s stock exchange, increasing
Doha' s chances of being a viable alternative to Dubai as the region' s
securities hub
- Qatar welcomes new business and its residents increasingly desire a
sophisticated service, both of which are encouraging to international wealth
managers
- The QNB continues to be the largest wealth manager in Qatar with
international players more limited in the private banking services that they
provide
- QNB was established in 1964 as the country' s first Qatari-owned
commercial bank
- HSBC Wealth Management offers a significant Sharia product range in Qatar
- Standard Chartered has had a presence in Qatar for over five decades
- Coutts is an international player new to Qatar
- UBS has only just launched a wealth management operation in Qatar,
although has been present in the Middle East since 1964
- There were 97,000 affluent individuals, with onshore liquid wealth of
$19,801 million in Qatar in 2008
BAHRAIN
- Bahrain is eager to recapture a more dominant position as a Middle East
wealth management center
- Bahrain has experienced steady economic growth and is set to strengthen
its position as a wealth management center in the Middle East
- Bahrain is eager to recapture a more dominant position as a wealth
management center in the Middle East
- Bahrain' s regulatory environment makes it an attractive destination for
international private banks
- Standard Chartered opened its first office in Bahrain in 1920
- Deutsche Bank has had a presence in Bahrain for over 30 years
- There were 57,000 affluent individuals, with onshore liquid wealth of
$11,479 million in Bahrain in 2008
OVERVIEW: KUWAIT, SAUDI ARABIA AND OMAN
APPENDIX
- The drivers of growth in the wealthy population
- Income growth (combined with inflation, changes in GDP by sector,
household savings rates and debt levels)
- Investment returns (market capitalization, interest rates and bond
yields)
- The following measures are not, in themselves, drivers of wealthy
population growth
- Market capitalization
- GDP
- The following measures are not drivers of wealthy population growth except
under very restricted circumstances
- Primary residence value growth
- Inheritance
- Bibliography
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Wealth management opportunities rankings of Middle East countries
- Table: Datamonitor' s Wealth Management Opportunity Index - Middle East
and Switzerland
- Table: Datamonitor' s Wealth Management Opportunity Index with values -
Middle East and Switzerland
- Table: Total number of affluent individuals (000) in the Middle East, by
country, 2004 - 2013
- Table: Total number of affluent individuals as a % of adult population, by
country, 2004 - 2013
- Table: Total number of affluent individuals as a % of total population, by
country, 2004 - 2013
- Table: Total aggregate liquid assets of affluent individuals, $bn, 2004 -
2013
- Table: Total aggregate liquid assets of affluent individuals as a % of
total savings and investments, 2004 - 2013
- Table: Wealth management opportunity index: UAE
- Table: List of foreign banks and their number of branches
- Table: Commercial banking leads the way in terms of segment profitability
for HSBC ME, 2007
- Table: Number of affluent individuals in the UAE, 000, 2004 - 2013
- Table: Aggregate onshore liquid wealth in the UAE, $m, 2004 - 2013
- Table: Wealth management opportunity index: Qatar
- Table: HSBC' s wealth management offering is built around a portfolio
planner
- Table: Number of affluent individuals in Qatar, 000, 2004 - 2013
- Table: Aggregate onshore liquid wealth in Qatar, $m, 2004 - 2013
- Table: Wealth management opportunity index: Bahrain
- Table: Improved oil prices both hinder and benefit the Bahraini economy
- Table: Number of affluent individuals in Bahrain, 000, 2004 - 2013
- Table: Aggregate onshore liquid wealth in Bahrain, $m, 2004 - 2013
- Table: Number of affluent individuals in Kuwait, 000, 2004 - 2013
- Table: Aggregate onshore liquid wealth in Kuwait, $m, 2004 - 2008
- Table: Wealth management opportunity index: Kuwait
- Table: Number of affluent individuals in Saudi Arabia, 000, 2004 - 2008
- Table: Aggregate onshore liquid wealth in Saudi Arabia, $m, 2004 - 2008
- Table: Wealth management opportunity index: Saudi Arabia
- Table: Number of affluent individuals in Oman, 000, 2004 - 2008
- Table: Aggregate onshore liquid wealth in Oman, $m, 2004 - 2013
- Table: Wealth management opportunity index: Oman
FIGURES
- Figure: Datamonitor' s Wealth Management Opportunity Index
- Figure: There may be some missed opportunities on the part of HSBC' s
wealth management business in the Middle East
- Figure: HSBC Qatar has established its own Sharia-compliant division, HSBC
Amanah
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