Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
MEA region Wealth Expected to Grow at 6 Percent Annually Over Next 5 Years According to New Oliver Wyman and Deutsche Bank Report
 
Growth in Emerging Markets is Almost Twice the Rate of Developed Markets
 
Dubai, United Arab Emirates - May 26, 2019:  Oliver Wyman and Deutsche Bank today released their fourth annual Wealth Management report titled “Out of the pit stop - into the fast lane.” In 2018, Wealth Managers faced growing headwinds. 
 
The report finds that global high-net worth (HNW) wealth growth slowed to 4 percent in 2018. Lower assets under management (AuM) growth, more challenging markets and continued fee compression led to declining Wealth Management business valuations. The revenue pressure felt by Wealth Managers in late 2018 highlights the continued vulnerability of operating models to market stress. The rebound in early 2019 brought short-term relief for some, but further pressure is inevitable as the end of the cycle approaches. 
 
Mathieu Vasseux, Partner and Head of Financial Services (MEA) at Oliver Wyman, said: “To realize above average growth, serving developed markets will not be sufficient. Emerging Markets including the Middle East and Africa, are the engine for growth going forward as the industry continues to face fee margin and cost pressures in developed markets.” 
 
The report highlights the following priorities for the C-suite:
 
• Rethink footprint in Emerging Markets – More than half of HNW wealth growth will originate in Emerging Markets vs one third of stock today. Wealth Managers need to rethink their positioning in these markets especially Asia-Pacific and Latin America.   
 
• Simplify the operating model -- The Q1 2019 market rebound has given Wealth Managers a last chance to improve efficiency of their operating model and adjust their cost base before an eventual downturn.
 
 
o To increase efficiency in the front office, Wealth Managers must free up advisor capacity for revenue generating activities by automating and digitizing processes, particularly in client onboarding, KYC/AML, and lending. Embedding different service levels and greater automation in the investment engine is still a largely underutilized lever. Wealth Managers need to align their offering with client needs in an industrialized, mass personalized offering. 
 
o Allocated costs remain stubbornly high and should be tackled by lowering group services consumption. Wealth Managers need to focus on understanding and steering cost allocations as well as establishing a culture of cost ownership to get into the driver’s seat for allocated costs.


Posted by : Dubai PR Network Editorial Team
Viewed 7942 times
PR Category : Banking & Investments
Posted on : Sunday, May 26, 2019  2:26:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : UAE Exchange's Emiratisation Initiative Lauded by Ministry o...
Next Story : Mali Prime Minister hails Khalifa Fund's support model for e...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Preparing for a New Post-pandemic Economic Era in Mena [4116-Views]
Code 11.59 by Audemars Piguet – New Tones of Elegance [3616-Views]
Panasonic Jaguar Racing Management Team Discuss Formula E's Return to Racing in Berlin [3407-Views]
Pandora ME for Every Side of You [3198-Views]
“CATRICE” Perfect Look for “Back to the Office” [2886-Views]
Parmigiani Fleurier Toric Fleur' [2628-Views]
Newest LG True Wireless Earbuds Self-clean, Sound Great With Meridian Audio [2358-Views]
Your Guide to Choosing the Right Face Mask [2337-Views]
Get Summer Ready With Magnitone London! [2132-Views]
Kristina Fidelskaya - An Escape, With 'La Pause' Spring / Summer 2020 Collection. [1960-Views]
Smash Summer Fitness Goals with 100 Workout Modes on the HONOR MagicWatch 2 [1931-Views]
Dubai Well Poised for Growth in New Business Entities' [1931-Views]
TishTash Eid Al-Adha Gift Guide 2020 [1927-Views]
Newly Launched HONOR 9A Offers Stunning Photography Anytime Anywhere [1919-Views]
District 2020 forms strategic partnerships with Dubai SME and MBRIF to support growth of U... [1906-Views]
Taste the Summer With Wild & the Moon's Latest Menu Drop! [1845-Views]
Nahdi Medical Company Transforms its Financial Management with Infor [1812-Views]
Comprehensive Study of Refugee Children's Academic, Social, and Emotional Learning Outcome... [1800-Views]
DHA Signs MoU with University of Sharjah [1763-Views]
Wonder Ingredients For Powerful Skincare [1763-Views]
Dubai Summer Surprises Best Buys - Springfield's Hottest Deals [1751-Views]
The New Season of Master Maserati Programme Gets Underway [1747-Views]
Marking International Day Against Drug Abuse: Mohap Provides Addiction Treatment and Rehab... [1730-Views]
Alstom at Forefront of Hygiene & Safety Innovation for Transport & Mobility in a COVID-19 ... [1677-Views]
UAE's First-Ever Fully Sponsored Flight to India [1669-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories