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Searching for the Super-Rich

Wednesday, October 06, 2010 - 04:31

Asia and the Middle East will see the greatest future growth in the super-rich, but clients from these regions seek security rather than liquidity of assets, says Coutts & Co's Head James Fleming.

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Asia looking to -- the wealth management crown from Switzerland what James Fleming joins me now from Geneva he's head of the international private banking. Division at -- thanks guys mr. Fleming . Where are using them it's great thing and fonts and one of the most important areas for you right now. we are able to offer. So yes this is and of this market options before us. of human in Europe body -- cargo growth opportunities in them the Scandinavia what what specifics about. or three years that's a continuing focus for us as far as Scandinavia is concerned. That's his -- is a market that has a close association UK in the sense of wealth management opportunities and continuing trend over the next two or three years yes. Okay Jane Fleming could thank you very much -- joining us from Geneva today. Competition among up on manages the super rich is that have been affairs said the chip graphics of the industry also changing. -- Asia looking to -- the wealth management crown from Switzerland what James Fleming joins me now from Geneva he's head of the international private banking. Division at -- thanks guys mr. Fleming . Where are using them it's great thing and fonts and one of the most important areas for you right now. I think we sequencing. Picking growth in the years ahead in Asia Pacific and we're strengthening our businesses that in Hong Kong and simple. We also see try to degree of potential -- business in the Middle East. And our goal is to mall and trouble off number private bankers and Apollo world growing from the current complement to around sixteen -- that we have. Syria nearly sixty of an extra four years. Investing -- part of the world. And it will proposal indignities the second death panels -- Asia but description back to Europe does that mean. You seem that was prospects if you like for agreeing to business in Europe as an Asian economies. Sought to front run in terms of the global economy. Well I think you've just said -- creation. Economies starting front wrong. -- generally accepted perspective on the part of the world. Growing at a faster pace than in western economies insert that's where we see the growth. To developing -- the next few years. You -- at least in the -- putting Carlo method -- that all -- say that in itself has been fair around the rocky time rescinded but you you see. Good great prospects that based on recovery in the region. Yes we do receive if the economy is gonna. And stronger. We see the continuing -- and actual results is oversee. In terms of the oil and gas reserves and not possible world that's leading into the development of wealth creation. I intend to -- for the title wealth management services that we are able to offer. So yes this is and of this market options before us. That you're you're sort of human in Europe body -- cargo growth opportunities in them the Scandinavia what what specifics about. I -- I think I would suggest we see -- growth opportunities not our market in the UK. Where we're continuing to develop our organic growth there reopened. Offices and in some of the regions and -- two or three years that's a continuing focus for us as far as Scandinavia is concerned. That's his -- is a market that has a close association UK in the sense of wealth management opportunities and I would continue to develop. And Joseph and the assets that they this its original -- attracted CIA I think they've been through. The pair of being very conservative about that given the global financial problems that do you see any signs about. Changing of people waiting to be to invest more complex soul more obscure instruments now. Out of what I would say is asset allocation awful awful without -- category of wealth is it's very important elements. And the ability to bring some advice on how to manage their asset base. Over a period of years ever dedicated time horizon. In accordance with their circumstances and -- this is very important about that yes. And does that have any regional variations I mean you mention it the Middle East. To begin to talk about is people like that differ greatly from what might have triggered it in -- are we. We've seen quite a flare all of money into the UK in CUK. Central London to see residential property. But who represents an -- Abbas about a case shift toward -- Less liquidity but most Sutton in terms of six six months. I'm. I think there's a general focus towards. A great -- sound missile that's a vacation. In the Middle East me and then that's what we're looking so. How does an outlook this funny full the rich and notre rich that have their fortunes bashed it we may that but by recent events that. -- these sees stabilization coming in that and all that apple -- is that personal wealth stock in the grass grow again. Generally speaking yes I think very stabilization. That. The wealth of top level is is beginning to return to growth fund and we see that as -- as a continuing trend over the next two or three years yes. Okay Jane Fleming could thank you very much -- joining us from Geneva today.

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Searching for the Super-Rich

Wednesday, October 06, 2010 - 04:31