Europe HNWI Population Reached 3.2 Million in 2011, States Timetric01 Mar 2013 • by Natalie Aster
Wealth management in the European Union (EU) market is in the middle of a number of changes as banks have been looking to restructure business models in the last couple of years. The European private banking and wealth management industry is among the most important in the European financial services sector. The current potential for the core private banking client segments – HNWIs and UHNWIs – is already significant enough to be regarded as attractive by the industry; and it is expected to increase significantly during the next few years.
According to the report “Opportunities in Emerging EU Wealth Markets” by Timetric, the high net worth individual (HNWI) population in Europe grew by 1.1% and reached 3.2 million individuals in 2011 from 2.6 million in 2008 and is estimated to increase at a faster rate in the next couple of years. The long-term potential and expected growth rates for key countries are promising. The origin of client wealth in the emerging EU markets is more a matter of income flows than of past accumulation; according to research findings, wealth is mainly produced by new entrepreneurs, professionals and business owners.
Opportunities in Emerging EU Wealth Markets
Published: October, 2012
Price: US$ 3,800.00
Key highlights of this title
- The typical client segments of European private banking and wealth management industry represent only about 9% of the total population in Europe, but represent around 60% of the total wealth held by private individuals
- 4.2 million core Millionaires, who have between US$1 million and US$10 million to invest, accounted for 27% of the typical private bank’s assets in 2011
- Industry’s profit margins have increased from 20bp in 2009 to 24bp in 2010 and cost/income reached 71% in 2010
More information can be found in the report “Opportunities in Emerging EU Wealth Markets” by Timetric.
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