Ultra HNWIs in Mexico 2013

Date: June 18, 2013
Pages: 76
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US$ 3,495.00
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Publisher: WealthInsight
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: UC711EC1D1EEN
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Ultra HNWIs in Mexico 2013
Synopsis• This report is the result of WealthInsight’s extensive research covering the ultra high net worth individual (UHNWI) population and wealth management market in Mexico.
  • 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 UHNWIs have performed through the crisis.Summary

    This report reviews the performance and asset allocations of Ultra HNWIs in Mexico and highlights top-performing cities. It also includes an evaluation of the local wealth management industry.

    Scope
    • UHNWI volume, wealth and allocation trends from 2007 to 2012
    • UHNWI volume, wealth and allocation forecasts to 2017
    • UHNWI asset allocations across 13 asset classes
    • Number of UHNWIs in each state and all major cities
    • Fastest growing cities and states 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 for the Wealth Management and Private Banking sector in Mexico
    • Size of the Mexican wealth management industry
    • Largest domestic private banks by AuM
    • 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 dossiers on over 60,000 HNWIs from around the world.
    • The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
    • 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.
    Key Highlights
    • There were 2,540 UHNWIs in Mexico. Of this total, there were 16 billionaires, 252 centimillionaires and 2,272 affluent millionaires, as of the end of 2012.
    • The number of UHNWIs in Mexico increased by 19% from 2,129 individuals in 2007 to 2,540 in 2012.
    • The number of billionaires increased by 14%, while the number of centimillionaires and affluent millionaires rose by 24% and 19% respectively.
    • With US$364 billion in total combined wealth, Mexican UHNWIs held 49% of the total wealth of the country’s HNWIs, which is well above the worldwide average of 30%.
    • UHNWI wealth increased by 43%, compared to the 32% rise experienced by core HNWIs. This strong growth was fuelled by a 68% rise in billionaire wealth.
    • WealthInsight expects the number of UHNWIs to increase by 47%, to reach 3,733 individuals in 2017. This will include 21 billionaires, 373 centimillionaires and 3,339 affluent millionaires.
  • 1 INTRODUCTION

    1.1 Details of this Report
    1.2 Definitions

    2 EXECUTIVE SUMMARY

    3 WEALTH SECTOR FUNDAMENTALS

    3.1 Political Background
    3.2 Economic Background
    3.3 Benchmarking Mexico Wealth in Context
      3.3.1 World statistics
      3.3.2 Distribution of wealth in Mexico
    3.4 HNWI Volume and Wealth Trends

    4 FINDINGS FROM THE WEALTHINSIGHT HNWI DATABASE

    4.1 Trends in HNWI Wealth to 2017
      4.1.1 HNWI trend analysis
      4.1.2 Trends of the Wealth bands
      4.1.3 Demographic breakdown of HNWIs
    4.2 UHNWIs
      4.2.1 UHNWI volume trend analysis
      4.2.2 UHNWI wealth trend analysis
      4.2.3 Demographic breakdown of UHNWIs
      4.2.4 UHNWIs – job titles
      4.2.5 UHNWIs – industry breakdown
      4.2.6 UHNWIs – breakdown by city
      4.2.7 UHNWIs – city population densities
      4.2.8 UHNWIs – smaller cities
      4.2.1 UHNWIs – affluent suburbs
    4.3 UHNWIs – Billionaires
      4.3.1 Billionaire volume trend analysis
      4.3.2 Billionaire wealth trend analysis
      4.3.3 Billionaire per capita net worth trend analysis
      4.3.4 Billionaire demographics
      4.3.5 List of billionaires
    4.4 UHNWIs – Centimillionaires
      4.4.1 Centimillionaire volume trend analysis
      4.4.2 Centimillionaire wealth trend analysis
      4.4.3 Centimillionaire per capita net worth trend analysis
    4.5 UHNWIs – Affluent Millionaires
      4.5.1 Affluent millionaire volume trend analysis
      4.5.2 Affluent millionaire wealth trend analysis
      4.5.3 Affluent millionaire per capita net worth trend analysis

    5 ANALYSIS OF MEXICAN UHNWI INVESTMENTS

    6 COMPETITIVE LANDSCAPE OF THE WEALTH SECTOR

    6.1 Competitive Landscape
      6.1.1 Private banks
      6.1.2 Wealth managers
    6.2 Family Offices
      6.2.1 Offshore wealth
      6.2.2 Saturation by city
    6.3 Wealth Management Industry – Clientele Model and Maturity
    6.4 Behavioral Mapping of Wealth Management and Private Banking Industry in Mexico
    6.5 Pension Fund Industry

    7 APPENDIX

    7.1 Regulations on Taxes
    7.2 Economic Indicators
      7.2.1 Peso to dollar exchange rate
      7.2.2 Real GDP growth
      7.2.3 Per capita GDP
      7.2.4 Domestic market capitalization
      7.2.5 Commodity index
      7.2.6 Foreign direct investment
      7.2.7 Inflation rate
      7.2.8 Interest rate
      7.2.9 Balance of payments
      7.2.10 Stock market performance
    7.3 Wealth Breakdowns

    8 ABOUT WEALTHINSIGHT


    LIST OF FIGURES

    Figure 1: HNWI Wealth Band Definitions
    Figure 2: Map of Mexico
    Figure 3: Mexico: Asset Price Performance (%), 2007–2012
    Figure 4: Mexico: HNWI Performance, 2007–2017
    Figure 5: Mexico: Mexican HNWIs vs the World
    Figure 6: Mexico: HNWIs – Growth Factor Correlation, 2007–2012
    Figure 7: Mexico: HNWIs – Volume Distribution Wealth Pyramid, 2012
    Figure 8: Mexico: HNWIs – Wealth Distribution Wealth Pyramid (% share), 2012
    Figure 9: Mexico: HNWIs – Age Distribution (%), 2012
    Figure 10: Mexico: UHNWIs – Wealth Share vs Volume Growth (%), 2007–2012
    Figure 11: Mexico: UHNWIs – Volume by Wealth Band, 2007–2017
    Figure 12: Mexico: UHNWIs – Wealth by Wealth Band (US$ Billion), 2007–2017
    Figure 13: Mexico: UHNWIs – Age Distribution (% Share), 2012
    Figure 14: Mexico: HNWIs – Job Titles (%), 2012
    Figure 15: Mexico: UHNWIs – Distribution by Industry (%), 2012
    Figure 16: Mexico: Billionaires – Market Overview, 2007–2017
    Figure 17: Mexico: Centimillionaires – Market Overview, 2007–2017
    Figure 18: Mexico: Affluent Millionaires – Market Overview, 2007–2017
    Figure 19: Mexico: UHNWIs – Asset Class Composition (%), 2007–2017
    Figure 20: Mexico: Wealth Management Industry – Maturity Level of Players
    Figure 21: Mexico: Wealth Management Industry – Behavioral Mapping, 2012
    Figure 22: Mexico: Peso to US Dollar Exchange Rate, 2007–2017
    Figure 23: Mexico: Real GDP Growth (%), 2007–2017
    Figure 24: Mexico: GDP Per Capita, 2007–2017
    Figure 25: Mexico: Domestic Market Capitalization (US$ Billion), 2007–2011
    Figure 26: Mexico: Commodity Indices, 2007–2017
    Figure 27: Mexico: Foreign Direct Investment (US$ Billion), 2007–2017
    Figure 28: Mexico: Inflation Rate, 2007–2017
    Figure 29: Mexico: Benchmark Interest Rate, 2007–2017
    Figure 30: Mexico: Balance of Payments (US$ Billion), 2007–2012
    Figure 31: Mexico: Stock Market Performance, 2007–2012
    Figure 32: Mexico: HNWI Wealth vs GDP Ratio (%), 2007–2017
    Figure 33: Mexico: HNWIs – Volume by Wealth Band, 2007–2017
    Figure 34: Mexico: HNWIs – Wealth by Wealth Band (US$ Billion), 2007–2017
    Figure 35: Mexico: HNWIs – Wealth per Capita (US$ Billion), 2007–2017





    COMPANIES MENTIONED

    Banorte
    Banamex (Citigroup)
    Scotiabank
    Santander México
    HSBC Mexico
    Interacciones
    Afirme
    BBVA Bancomer
    Casa de Bolsa
    Corporativo GBM
    Credit Suisse Mexico
    Deutsche Bank Mexico
    Grupo Financiero Multiv
    Inbursa
    Itau BBA
    JP Morgan
    UBS

    As of the end of 2012, there were 2,540 UHNWIs in Mexico which could be broken down into 16 billionaires, 252 centimillionaires and 2,272 affluent millionaires. Between 2007 and 2012 the number of UHNWIs in Mexico increased by 19% from 2,129 to 2,540.

    There was a wide range of performance between the different UHNWI wealth bands as the number of billionaires increased by 14%, while the number of centimillionaires and affluent millionaires rose by 24% and 19% respectively. This falls in line with the fact that, with a total combined wealth of US$364 billion, Mexican UHNWIs held 49% of the total wealth of the country’s HNWIs, well above the worldwide average of 30%. Between 2008 and 2012, UHNWI wealth increased by 43%, compared to the 32% rise experienced by core HNWIs. This strong growth was fuelled by a 68% rise in billionaire wealth. 

    Manufacturing is the most important industry from which Mexican UHNWIs acquired their wealth; it was the primary source of wealth for 17.4% of local UHNWIs. Other important industries include financial services (14.7% of UHNWIs) and diversified (9.1% of UHNWIs). As well as this, the fastest growing sectors between 2008 and 2012 were basic materials, retail and transport & logistics.

    Unsurprisingly, Mexico City is the largest city for Mexican UHNWIs, accounting for 43% of total UHNWIs with just over 1,088 individuals. As well as this, there are sizable UHNWI populations in Monterrey (208 UHNWIs) and Guadalajara (129 UHNWIS).

    It has been estimated that, at the end of 2012, Mexican local private banking assets under management (AuM) totaled just over US$190 billion. The top five banks by local AuM are Banorte, Banamex (Citigroup), BBVA Bancomer, Santander and Scotiabank. Interestingly, the number of wealth management offices per UHNWI in Monterrey and Guadalajara is relatively low. This shows that there is scope for more wealth managers to set up business in these two cities.

    The material was prepared in July, 2013.

    LIST OF TABLES

    Table 1: HNWI Wealth Band and Group Definitions
    Table 2: Mexico: 10 Most Populous States, 2012
    Table 3: Mexico: Largest Cities, 2012
    Table 4: Mexico: HNWIs – Volume Distribution Wealth Pyramid, 2012
    Table 5: Mexico: HNWIs – Wealth Distribution Wealth Pyramid (% share), 2012
    Table 6: Mexico: UHNWI – Gender, 2012
    Table 7: Mexico: UHNWI – Source of Wealth (%), 2012
    Table 8: Mexico: UHNWIs – Top 10 Cities, 2012
    Table 9: Mexico: UHNWIs – Population Density in Top 10 Cities, 2012
    Table 10: Mexico: UHNWIs – Smaller Cities, 2012
    Table 11: Mexico: UHNWIs – Affluent Suburbs, 2012
    Table 12: Mexico: Billionaires – Market Overview (US$ Billion) 2007–2017
    Table 13: Mexico: Top Billionaires (US$ Billion), 2012
    Table 14: Mexico: Top Billionaires (US$ Billion), 2007–2012
    Table 15: Mexico: Centimillionaires – Market Overview, 2007–2017
    Table 16: Mexico: Affluent Millionaires – Market Overview, 2007–2017
    Table 17: Mexico: UHNWIs – Allocations and Share of HNWI Assets (%), 2012
    Table 18: Mexico: Key Private Banks by Domestic AuM (US$ Billion), 2012
    Table 19: Mexico: Other Private Banks, 2012
    Table 20: Mexico: Wealth Managers, 2012
    Table 21: Mexico: Wealth Managers per City, 2012
    Table 22: Mexico: Peso to US Dollar Exchange Rate, 2007–2017
    Table 23: Mexico: Real GDP Growth, 2007–2017
    Table 24: Mexico: GDP Per Capita, 2007–2017
    Table 25: Mexico: Domestic Market Capitalization (US$ Billion), 2007–2011
    Table 26: Mexico: Commodity Indices, 2007–2017
    Table 27: Mexico: Foreign Direct Investment (US$ Billion), 2007–2017
    Table 28: Mexico: Inflation Rate, 2007–2017
    Table 29: Mexico: Benchmark Interest Rate, 2007–2017
    Table 30: Mexico: Balance of Payments (US$ Billion), 2007–2012
    Table 31: Mexico: Stock Market Performance, 2007–2012
    Table 32: Mexico: HNWI Wealth vs GDP Ratio (%), 2007–2017
    Table 33: Mexico: Appendix One
    Table 34: Mexico: Appendix Two





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