The global economy is in precarious shape, and Europe faces the risk of 1970s-style stagflation. So why does the outlook for technological innovation remain exceptionally bright?
The euro has reached its lowest level vs. the US dollar since 2002. What’s behind the falling value of the common currency?
“Counterpoint” highlights dynamics that will drive the global economy, financial markets and key asset classes over the second half of 2022 and beyond.
Capgemini’s World Wealth Report (WWR), published today, reveals the global High Net Worth Individual (HNWI) population grew 7.8% and their wealth grew 8% in 2021 owing to recovering economies being boosted by the stock market. North America continued along its growth trajectory, boasting the highest increase in HNWI population and wealth, 13.2% and 13.8% respectively. From an overall growth rate standpoint, APAC’s lackluster 2021 HNWI growth in population (4.2%) and wealth (5.4%) put the region, which had dominated HNWI growth over the last decade, into third place. Capgemini’s 2022 World Wealth Report examines global wealth movements in the past year, exploring trends and influences on the HWNI population.
Quintet Private Bank, headquartered in Luxembourg and operating in 50 European cities, announced today the appointment of Chris Allen as Group CEO. Allen, who brings 30 years of financial services experience to Quintet, will assume his new role on July 1, 2022, subject to regulatory approval.
Following the opening of its new offices in France and Germany last week, Citi Private Bank (‘City’) should hire 700 private bankers in the coming months.
According to UBS Investor Sentiment Survey, against a backdrop of inflation and rate hikes, investors are waiting for the “right opportunity” to invest in sectors such as healthcare and technology, while business owners look to hire and invest more.
A revision to the 2004 law concerning securitisation activities has been submitted to Luxembourg’s parliament. The revision aims to grow activities within this space by allowing the management of active CLOs.
As of 31 December, 2021, net assets of Luxembourg investment funds reached an all-time high of EUR 5.9 trillion (USD 6.6 trillion). This represents a year-on-year increase of EUR 886 billion or + 17.8%.
A new initiative from IQ-EQ will support women to launch and grow their first funds. IQ-EQ Launchpad aims to expand inclusivity for the wider asset management industry and foster a self-sustaining network of women in senior leadership roles.