BusinessCompany NewsPwC: Private banks to boom

PwC: Private banks to boom

Wealth managers, private banks anticipating unprecedented growth

Wealth managers and private banks are anticipating unprecedented growth over
the next three years, according to
PwC’s
2007 Global Private Banking/Wealth Management Survey.

Chief executives polled said that on average, their assets under management will
increase at a rate of 30% per annum.

The survey, highlighted that markets in Asia Pacific and Eastern Europe are
expanding the fastest, as organisations rush to service the new wealth creators
in these regions.

Bruce
Weatherill, global private banking
and wealth management leader at PwC said:
‘Our 2007 survey reveals a period of exceptional opportunities for wealth
managers. Buoyed by rising global wealth, wealth managers everywhere are
anticipating extremely high rates of profitable growth that have not been seen
during the 14 year history of our survey, and probably at any other time.’

Further reading:

Top FDs have £500m in shares

Government website promotes UK as ‘tax haven’

Wealth management: polish your clients’ portfolios

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