The Deloitte Wealth Management Centre Ranking 2015
Capturing value in a shifting environment
Deloitte in Switzerland has analysed the international client asset development of the leading worldwide private wealth management centres in its second Deloitte Wealth Management Centre Ranking.
The 2015 report also analyses the performance of Swiss-based wealth managers and makes recommendations for improvement.
- Global international wealth management market volume grew from 2008 to 2014 by 2.2%, to 9.2 tn USD: Switzerland maintained its position as leading wealth management centre and Hong Kong is the fasted growing centre (+142% since 2008).
- However, market volume growth was driven by capital market performance, not net new client assets. Overall net new assets in international wealth management are down 23% globally and 7% for Switzerland.
- Swiss domestic market volume grew by 43% since 2008, international market volume by 7%, reducing the relative importance of international market volume for Switzerland.
- Moreover, overall profit margin for Switzerland has been decreasing annually by 5%. Swiss providers face challenges in terms of of revenue efficiency and cost productivity.
- Urgent strategic changes are necessary, driven by a clear understanding of the future target state.
For the second time, Deloitte in Switzerland has ranked the leading global wealth management centres according to international assets under management and administration (AMA). On the basis of “The Deloitte wealth management centre ranking 2013” report, international wealth management centres were defined as countries or jurisdictions specialised in and attracting a large number of international private clients.
The core of our method is a proprietary Deloitte private banking database and analytics engine sourcing raw data and financial figures of third party data providers. Against this backdrop the study measures the volume of private client assets at each centre in the years 2008 – 2014 (E) and the changes that have occurred in this period.
The report also estimates the net new asset production per wealth management centre in the same period of time.