An Important Report on Middle Eastern High-Net-Worth Individuals
At the Middle East Investment Conference, Khaled Sifri, CEO, Emirates Investment Bank, provided unique transparency into Gulf Cooperation Council (GCC) high-net-worth individuals. His understanding came from his organization’s recent survey and recently published report on the topic. Emirates Investment Bank conducted its survey throughout the GCC in December 2013 and again in January 2014 to assess the views of high-net-worth individuals and their sentiments about investing and about banking relationships.
Key findings of the report include:
- High-net-worth individuals (HNWIs) have more optimism about the economic and investment prospects of the Gulf region than they do for the globe over the next five years.
- Overwhelmingly, HNWIs are more focused on capital appreciation than on capital preservation.
- Any future wealth accumulation by HNWIs is primarily to be invested in their personally owned businesses and secondarily in investment real estate.
- A slight majority of HNWIs prefer a local bank to have not only personal banking services but also investment banking advisory services to help manage their wealth.
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