Mexico Wealth Report 2015

HNWIs with ‘Director’ in their job title accounted for 13.9% of Mexican HNWIs by sample size in 2014, while those with ‘Shareholder’, ‘Chief Executive Officer’ and ’Chairman’ accounted for 13.5%, 9.3% and 6.0% respectively.

Globally, HNWIs with ‘Chairman’ in their title tend to be older than those with other job titles, while HNWIs in the president job category tend to be even older. These individuals generally have large ownership stakes, and their wealth is therefore linked to company performance rather than salary.

The highest growth in volumes during the review period was among those in Director’s positions, at a rate of 16.5%, while the number of HNWIs with ‘Shareholder’ in their title grew by 13.7%.

FMCG was the primary source of wealth for 15.3% of local HNWIs in 2014. Basic Materials was the second-largest source of wealth, with 12.6% in the same year, followed by financial services and construction and engineering with 11.6% and 10.6% respectively, and media with 8.9%.

There were 401 female UHNWIs in Mexico in 2014, making up 15.5% of the total Mexican UHNWI population. This is at par with the global average of 15–20%.

Female UHNWIs rose at a faster rate than their male counterparts during the review period, increasing by 3.8%, compared to male UHNWIs whose volumes rose by 3.1%.

Scope

• An independent market sizing of Mexican HNWIs across five wealth bands

• Analysis of HNWI volume, wealth and allocation trends from 2010 to 2014

• An analysis of HNWI volume, wealth and allocation forecasts to 2019

• A breakdown of HNWI and UHNWI asset allocations across 13 asset classes

• A geographical breakdown of all foreign assets

• An alternative breakdown of liquid vs. investable assets

• Details of how wealth management has developed, in addition to analysis of the challenges and opportunities related to the wealth management and private banking sector in Mexico

• Detail on the size of Mexico's wealth management industry.

• Detailed wealth management and family office information

• Insights into the drivers of HNWI wealth in the Mexican wealth market

• The number of UHNWIs in major Mexican cities

Key Highlights

How many HNWIs were there in Mexico in 2014? How much wealth did they collectively hold in US$ billion?

By how much did the Mexican HNWI population rise in 2014? How does this percentage compare with the rise in 2013?

What is the predicted growth of the Mexican HNWI population by 2019? What is the forecast total of HNWI’s in the same year? By what percentage is HNWI wealth projected to grow? What is their total wealth predicted to be?

Reasons to buy

• Investigate a comprehensive analysis of the private banking and wealth management sector in Mexico and deliver your value proposition to clients based on the most current market information

• Evaluate HNWI volumes in each major Mexican city to better target your wealth prospects precisely and grow your market share

• Analyze the asset allocations of HNWIs and ultra-HNWIs, including projections of their volume, wealth and asset allocations to 2019. Identify those segments predicted to grow substantially over the forecast period better position yourself to achieve a competitive advantage

Companies mentioned

Banamex Private Banking, Banorte Private Banking, Corporativo GBM, SAB de CV, BBVA Bancomer Private Banking, Banco Santander, Valmex Private Clients and Monex Grupo Financiero Private Clients

Table of Contents

Table of Contents

1 Introduction

1.1 Details of this Report

1.2 Definitions

2 Executive Summary

3 Mexico Key Facts

4 Distribution of Wealth in Mexico

4.1 HNWI Volume and Wealth Trends

5 Findings from the WealthInsight HNWI Database

5.1 Trends in HNWI Wealth to 2019

5.1.1 HNWI trend analysis

5.1.2 Wealth band trends

5.1.3 Demographic breakdown of HNWIs

5.1.4 HNWIs – job titles

5.1.5 HNWIs – industry breakdown

5.1.6 HNWIs – industry performance

5.1.7 HNWIs – breakdown by city

5.1.8 HNWIs – city performance

5.1.9 HNWIs – city population densities

5.1.10 HNWIs – city forecasts

5.2 UHNWIs

5.2.1 UHNWI volume trend analysis

5.2.2 UHNWI wealth trend analysis

5.2.3 Demographic breakdown of UHNWIs

5.2.4 UHNWIs – industry breakdown

5.2.5 UHNWIs – city breakdown and performance

5.3 UHNWIs – Billionaires

5.3.1 Billionaire volume trend analysis

5.3.2 Billionaire wealth trend analysis

5.3.3 Billionaire per capita net worth trend analysis

5.3.4 List of billionaires

5.4 UHNWIs – Centimillionaires

5.4.1 Centimillionaire volume trend analysis

5.4.2 Centimillionaire wealth trend analysis

5.4.3 Centimillionaire per capita net worth trend analysis

5.5 UHNWIs – Affluent Millionaires

5.5.1 Affluent millionaire volume trend analysis

5.5.2 Affluent millionaire wealth trend analysis

5.5.3 Affluent millionaire per capita net worth trend analysis

5.6 Core HNWIs

5.6.1 Core HNWI volume trend analysis

5.7 Core HNWIs – Mid-Tier Millionaires

5.7.1 Mid-tier millionaire volume trend analysis

5.7.2 Mid-tier millionaire wealth trend analysis

5.7.3 Mid-tier millionaire per capita net worth trend analysis

5.8 Core HNWIs – Lower-Tier Millionaires

5.8.1 Lower-tier millionaire volume trend analysis

5.8.2 Lower-tier millionaire wealth trend analysis

5.8.3 Lower-tier millionaire per capita net worth trend analysis

6 Analysis of Mexican HNWI Investments

6.1 Analysis by Asset Class

6.1.1 Trends in alternative assets

6.1.2 Trends in ‘art, wine and wheels’

6.1.3 Trends of investment in real estate

6.1.4 Trends of investment in cash and deposits

6.1.5 Trends of investment in fixed-income

6.1.6 Investment trends in equity

6.1.7 Investments trends in business interests

6.2 Analysis of Foreign Investments

6.2.1 Investments in Europe

6.2.2 Investments in North America (including the US, Mexico and the Caribbean)

6.2.3 Investments in Asia-Pacific

6.2.4 Investments in South America

6.2.5 Investments in the Middle East

6.2.6 Investments in Africa

6.3 Alternative Breakdown: Liquid vs Investable Assets

6.4 Analysis of Mexican UHNWI Investments

7 Competitive Landscape

7.1 Additional Components of the Wealth Sector in Mexico

7.1.1 Domestic private banks

7.1.2 Foreign private banks

7.1.3 Wealth managers

7.1.4 Family offices

7.2 Key Drivers

7.2.1 MXN–US$ exchange rate

7.2.2 Real GDP growth

7.2.3 Per capita GDP

7.2.4 Domestic market capitalization

7.2.5 Commodity index

7.2.6 Foreign direct investment (FDI) – inflows and outflows

7.2.7 Inflation rate

7.2.8 Interest rate

7.2.9 Balance of payments

7.2.10 Government debt

7.2.11Stock market performance

7.3 Wealth Breakdowns

8 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Mexican HNWIs – Volume Distribution (%), 2014

Table 3: Mexican HNWIs – Wealth Distribution (%), 2014

Table 4: Mexican HNWIs – Industry Performance (%), 2010–2014

Table 5: Mexican HNWIs – Cities, 2014

Table 6: Mexican HNWIs – Growth in Top Cities (Thousand), 2010–2014

Table 7: Mexican HNWIs – Population Densities in Major Cities 2014

Table 8: Mexican HNWIs – Populations in Top Cities (Thousand), 2010–2019

Table 9: Mexican HNWIs – Growth Rates for Top Cities (%), 2010–2019

Table 10: Mexican HNWIs – Sources of Wealth (%), 2014

Table 11: Mexican UHNWIs – Gender Performance (%), 2010–2014

Table 12: Mexican UHNWIs – Populations in Top Cities, 2010–2019

Table 13: Mexican UHNWIs – Growth Rates for Top Cities (%), 2010–2019

Table 14: Mexican Billionaires – Market Overview (Volume and US$ Billions) 2010–2019

Table 15: Mexican Top Billionaires (US$ Billion), 2014

Table 16: Mexican Billionaire Wealth Growth (US$ Billion), 2010−2014

Table 17: Mexican Centimillionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 18: Mexican Affluent Millionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 19: Mexican Mid-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 20: Mexican Lower-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Table 21: Mexican HNWIs – Asset Allocations (%), 2010–2019

Table 22: Mexican HNWIs − Holdings Growth (%), 2010–2019

Table 23: Mexican HNWIs – Alternative Asset Composition (%), 2010–2019

Table 24: Mexican HNWIs – Trends of Investments in Alternative Assets (%), 2010–2019

Table 25: Mexican Trends in ‘Art, Wine and Wheels’, 2010–2014

Table 26: Global Prime Real Estate Prices (US$ per m2), 2014

Table 27: Mexican HNWIs – Foreign Investment Allocations (%), 2010–2019

Table 28: Mexican HNWIs – Liquidity Breakdown (US$ Billion), 2010–2019

Table 29: Mexican HNWIs – Liquidity Breakdown (%), 2010–2019

Table 30: Mexican UHNWIs – Allocations and Share of HNWI Assets (%), 2014

Table 31: MXN to US$ Exchange Rate, 2010–2019

Table 32: Mexican Real GDP Growth (%), 2010–2019

Table 33: Mexican GDP Per Capita (US$), 2010–2019

Table 34: Mexican Domestic Market Capitalization (US$ Billion), 2010–2014

Table 35: Mexican Commodity Indices, 2010–2019

Table 36: Mexican Foreign Direct Investments (US$ Billion), 2010–2019

Table 37: Mexican Inflation Rate (%), 2010–2019

Table 38: Mexican Money Market Rate (%), 2010–2019

Table 39: Mexican Balance of Payments (US$ Billion), 2010–2014

Table 40: Mexican Government Debt as a Percentage of GDP (%), 2010–2019

Table 41: Mexican Stock Market Performance (Index), 2010–2014

Table 42: Mexican HNWI Wealth vs. GDP Ratio (%), 2010–2019

Table 43: Mexico – Appendix One

Table 44: Mexico – Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions

Figure 2: Map of Mexico

Figure 3: Mexican Asset Price Performance (%), 2010–2014

Figure 4: Mexican HNWI Performance (US$ Billion and HNWI Volume), 2010–2019

Figure 5: Mexican vs Global HNWIs (%), 2010–2014

Figure 6: Mexican HNWIs – Growth Factor Correlation, 2010–2014

Figure 7: Mexican HNWIs – Wealth Pyramid (Volume Distribution), 2014

Figure 8: Mexican HNWIs – Wealth Pyramid (Wealth Distribution), 2014

Figure 9: Mexican HNWIs – Age Distribution (%), 2014

Figure 10: Mexican HNWIs – Job Titles (%), 2010–2014

Figure 11: Mexican HNWIs – Distribution by Industry (%), 2014

Figure 12: Mexican HNWIs – City Performance (%), 2010–2014

Figure 13: Mexican HNWIs – Popualtion by City (Thousand), 2010 and 2014

Figure 14: Mexican HNWIs – City Forecasts (%), 2015–2019

Figure 15: Mexican HNWIs – Populations by City (Thousand), 2015–2019

Figure 16: Mexican UHNWIs – Wealth Share vs Volume Growth (%), 2010–2014

Figure 17: Mexican UHNWIs – Volume by Wealth Band 2010–2019

Figure 18: Mexican UHNWIs – Wealth by Wealth Band (US$ Billion), 2010–2019

Figure 19: Mexican UHNWIs – Age Distribution (Percentage Share), 2014

Figure 20: Mexican UHNWIs – Distribution by Industry (%), 2014

Figure 21: Mexican Billionaires – Market Overview (Volume and US$ Billion), 2010–2019

Figure 22: Mexican Centimillionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 23: Mexican Affluent Millionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 24: Mexican Mid-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 25: Mexican Lower-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2010–2019

Figure 26: Mexican HNWIs – Asset Class Composition (%), 2010–2019

Figure 27: Mexican HNWIs – Trends in Alternative Assets (US$ Billion), 2010–2019

Figure 28: Mexican Trends in ‘Art, Wine and Wheels’, 2010–2014

Figure 29: Mexican HNWIs – Foreign Investment Allocation and Growth (%), 2014

Figure 30: Mexican HNWIs – Global Distribution of Foreign Investments (%), 2010–2019

Figure 31: Mexican HNWIs – Liquidity Breakdown (%), 2010–2019

Figure 32: Mexican UHNWIs – Asset Class Composition (%), 2010–2019

Figure 33: Mexican Exchange Rate – MXN to US$, 2010–2019

Figure 34: Mexican Real GDP Growth (%), 2010–2019

Figure 35: Mexican GDP Per Capita (US$), 2010–2019

Figure 36: Mexican Domestic Market Capitalization (US$ Billion), 2010–2014

Figure 37: Mexican Commodity Indices, 2010–2019

Figure 38: Mexican Foreign Direct Investments (US$ Billion), 2010–2019

Figure 39: Mexican Inflation Rate (%), 2010–2019

Figure 40: Mexican Money Market Rate (%), 2010–2019

Figure 41: Mexican Balance of Payments (US$ Billion), 2010–2014

Figure 42: Mexican Government Debt as a Percentage of GDP (%), 2010–2019

Figure 43: Mexican Stock Market Performance (Index), 2010–2014

Figure 44: Mexican HNWI Wealth vs. GDP Ratio (%), 2010–2019

Figure 45: Mexican HNWIs – Volume by Wealth Band, 2010–2019

Figure 46: Mexican HNWIs – Wealth by Wealth Band (US$ Billion), 2010–2019

Figure 47: Mexican HNWIs – Wealth per Capita (US$ Million), 2010–2019

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