We aim to be a leading wealth manager with strong global investment banking capabilities.
Our strategy is based on three key tenets – a balanced approach between mature and emerging markets, a “Bank for Entrepreneurs” focused on ultra-high-net-worth individuals as a core strength, and a regional wealth management model providing proximity to clients.
We believe wealth management is one of the most attractive segments in banking. Global wealth has grown significantly over the last ten years and is projected to continue to grow faster than GDP over the next decade, with both emerging and mature markets offering attractive growth opportunities.
We follow a balanced approach with our wealth management activities. We expect that emerging markets will account for nearly 60% of the growth in global wealth in the coming years, with more than 60% being created in Asia Pacific. Wealth is highly concentrated in emerging markets and wealth creation is mostly tied to first- and second-generation entrepreneurs.
At the same time, we plan to capitalize on opportunities in markets such as Western Europe, with a focused approach to building scale given the highly competitive environment. Despite slower growth, mature markets are still expected to account for more than half of global wealth by 2023.
Our wealth management activities are supported by our integrated global Investment Bank, which offers a client-centric global platform with critical scale for corporate, institutional, and entrepreneurial clients.
We provide clients with a range of services to protect and grow their wealth and offer an integrated approach across their private and corporate financial needs. To scale up our wealth management franchise in emerging markets, we are recruiting and retaining high-quality relationship managers while prudently managing our lending exposure, building on our strong investment and advisory offering and our global investment banking capabilities.
Moreover, with our Sustainability, Research & Investment Solutions function, we affirm our commitment to sustainability. We continue to provide our clients with industry-leading wealth solutions supported by a single ‘House View’ and thought leadership across public and private markets, with sustainability at the heart of our strategy.