Switzerland Wealth Report 2016

Switzerland is the world's largest wealth management center, with assets under management (AuM) of US$2 trillion.

In 2014, the implementation of the Swiss Foreign Account Tax Compliance enabled US tax authorities to gain financial information on funds held by US citizens in Switzerland. The European Union also signed a major accord with Switzerland in May 2015 in an attempt to end banking secrecy.

The demands of regulatory compliance are increasing costs for private banks and wealth managers, and competition from Singapore and Hong Kong – financial centers where most HNWI growth is taking place – is rising.

Scope

• An evaluation of the local wealth management market

• Analysis of HNWI volume, wealth and allocation trends between 2011 and 2015

• HNWI volume, wealth and allocation forecasts to 2020

• An examination of HNWI and UHNWI asset allocations in 13 asset classes

• A geographical breakdown of all foreign assets

• An alternative breakdown of liquid versus investable assets

• Data on the number of HNWIs in major Swiss cities with forecasts to 2020

• Insights into the key drivers of HNWI wealth in Switzerland

• An independent market sizing of Switzerland’s HNWIs across five wealth bands

• Information on private banks in Switzerland

• A detailed overview of the local economy

• Wealth management and family office information

• Insight on the development, challenges and opportunities for participants in the wealth management and private banking sector in Switzerland

Key Highlights

How many HNWIs are there in Switzerland? What is their collective wealth?

By what percentage did the Swiss HNWI population decrease in 2015? What are the key factors behind this? How does this compare to the total for the preceding year?

How substantial is the forecast increase in the Swiss HNWI population by 2020? What will be the anticipated total of Swiss HNWIs as a result? What is the projected increase in HNWI wealth in the same period? How is this expected to impact the collective wealth total?

Reasons to buy

• Analyze five Swiss wealth bands, and assess preferences for wealth management services in each.

• Drive revenue growth while minimizing exposure to risk.

• Access a comprehensive analysis of the private banking and wealth management sector in Switzerland, and ensure value propositions are based on the most current market information.

• Analyze HNWI volumes in each major Swiss city.

• Identify and target prospective clients more effectively.

• Assess the proliferation of wealth management service providers in Switzerland, and determine how to increase market share.

Companies mentioned

UBS Private Banking ,Credit Suisse Private Banking, EFG, International, Pictet Group, Julius Baer, BNP Paribas (Suisse) SA, Societe Generale Private Banking, Barclays, Albin Kistler, Swiss Private, Wm Partners, Marcuard Family Office AG, Sandoz Family Office and 1875 Finance SA.

Table of Contents

Table of Contents

1 Introduction

1.1 Details of this Report

1.2 Definitions

2 Executive Summary

3 Switzerland Key Facts

4 Distribution of Wealth in Switzerland

4.1 HNWI Volume and Wealth Trends

5 Findings from the WealthInsight HNWI Database

5.1 Trends in HNWI Wealth to 2020

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 Swiss 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 Trends of investment in equities

6.1.7 Trends of investments 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 Swiss UHNWI Investments

7 Competitive Landscape

7.1 Domestic Private Banks

7.2 Foreign Private Banks

7.3 Wealth Managers

7.4 Family Offices

8 Key Drivers

8.1 CHF–US$ Exchange Rate

8.2 Real GDP Growth

8.3 Per Capita GDP

8.4 Domestic Market Capitalization

8.5 Commodity Index

8.6 Foreign Direct Investment (FDI) – Inflows and Outflows

8.7 Inflation Rate

8.8 Interest Rates

8.9 Balance of Payments

8.10 Government Debt

8.11 Stock Market Performance

8.12 Wealth Breakdowns

9 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Swiss HNWIs – Volume Distribution (%), 2015

Table 3: Swiss HNWIs – Wealth Distribution Wealth Pyramid (%), 2015

Table 4: Swiss HNWIs – Industry Performance (%), 2011–2015

Table 5: Swiss HNWIs – Cities, 2015

Table 6: Swiss HNWIs – Growth in Top Cities (Thousand), 2011–2015

Table 7: Swiss HNWIs – Population Density in Major Cities 2015

Table 8: Swiss HNWIs – Populations in Top Cities (Thousand), 2011–2020

Table 9: Swiss HNWIs – Growth Rates for Top Cities (%), 2011–2020

Table 10: Swiss HNWIs – Sources of Wealth (%), 2015

Table 11: Swiss UHNWIs – Gender Performance (%), 2011–2015

Table 12: Swiss UHNWIs – Populations in Top Cities, 2011–2020

Table 13: Swiss UHNWIs – Growth Rates for Top Cities (%), 2011–2020

Table 14: Swiss Billionaires – Market Overview (Volume and US$ Billions) 2011–2020

Table 15: Swiss Top Billionaires (US$ Billion), 2015

Table 16: Swiss Billionaires – Wealth Growth (US$ Billion), 2011−2015

Table 17: Swiss Centimillionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 18: Swiss Affluent Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 19: Swiss Mid-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 20: Swiss Lower-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 21: Swiss HNWIs – Assets Allocations (%), 2011–2020

Table 22: Swiss HNWIs – Holdings Growth (%), 2011–2020

Table 23: Swiss HNWIs – Alternative Asset Composition (%), 2011–2020

Table 24: Swiss HNWIs – Trends of Investments in Alternative Assets (%), 2011–2020

Table 25: Swiss Trends in ‘Art, Wine and Wheels’, 2011–2015

Table 26: Global Prime Real Estate Prices per m2 (US$), 2015

Table 27: Swiss HNWIs – Foreign Investment Allocations (%), 2011–2020

Table 28: Swiss HNWIs – Liquidity Breakdown (US$ Billion), 2011–2020

Table 29: Swiss HNWIs – Liquidity Breakdown (%), 2011–2020

Table 30: Swiss UHNWIs – Allocations and Share of HNWI Assets (%), 2015

Table 31: Swiss Exchange Rate – CHF–US$ Exchange Rate, 2011–2020

Table 32: Swiss Real GDP Growth (%), 2011–2020

Table 33: Swiss GDP per Capita (US$), 2011–2020

Table 34: Swiss Domestic Market Capitalization (US$ Billion), 2011–2015

Table 35: Swiss Commodity Indices, 2011–2020

Table 36: Swiss Foreign Direct Investment (US$ Billion), 2011–2020

Table 37: Swiss Inflation Rate (%), 2011–2020

Table 38: Swiss Money Market Rates (%), 2011–2020

Table 39: Swiss Balance of Payments (US$ Billion), 2011–2015

Table 40: Swiss Government Debt as a Percentage of GDP (%), 2011–2020

Table 41: Swiss Stock Market Performance (Index), 2011–2015

Table 42: Swiss HNWI Wealth vs GDP Ratio (%), 2011–2020

Table 43: Switzerland – Appendix One

Table 44: Switzerland – Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions

Figure 2: Map of Switzerland

Figure 3: Swiss Asset Price Performance (%), 2011–2015

Figure 4: Swiss HNWI Performance (US$ Billion and HNWI Volume), 2011–2020

Figure 5: Swiss vs Global HNWIs (%), 2011–2015

Figure 6: Swiss HNWIs – Growth Factor Correlation, 2011–2015

Figure 7: Swiss HNWIs – Wealth Pyramid (Volume Distribution), 2015

Figure 8: Swiss HNWIs – Wealth Pyramid (Wealth Distribution), 2015

Figure 9: Swiss HNWIs – Age Distribution (%), 2015

Figure 10: Swiss HNWIs – Job Titles (%), 2011–2015

Figure 11: Swiss HNWIs – Distribution by Industry (%), 2015

Figure 12: Swiss HNWIs – City Performance (%), 2011–2015

Figure 13: Swiss HNWIs – Volume of HNWIs by City (Thousand), 2011–2015

Figure 14: Swiss HNWIs – City Forecasts (%), 2016–2020

Figure 15: Swiss HNWIs – Population by City (Thousand), 2016–2020

Figure 16: Swiss UHNWIs – Wealth Share vs Volume Growth (%), 2011–2015

Figure 17: Swiss UHNWIs – Volume by Wealth Band 2011–2020

Figure 18: Swiss UHNWIs – Wealth by Wealth Band (US$ Billion), 2011–2020

Figure 19: Swiss UHNWIs – Age Distribution (Percentage Share), 2015

Figure 20: Swiss UHNWIs – Distribution by Industry (%), 2015

Figure 21: Swiss Billionaires – Market Overview (Volume and US$ Billion), 2011–2020

Figure 22: Swiss Centimillionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 23: Swiss Affluent Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 24: Swiss Mid-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 25: Swiss Lower-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 26: Swiss HNWs – Asset Class Composition (%), 2011–2020

Figure 27: Swiss HNWIs – Trends in Alternative Assets (US$ Billion), 2011–2020

Figure 28: Swiss Trends in ‘Art, Wine and Wheels’, 2011–2015

Figure 29: Swiss HNWIs – Foreign Investment Allocation and Growth (%), 2015

Figure 30: Swiss HNWIs – Global Distribution of Foreign Investments (%), 2011–2020

Figure 31: Swiss HNWIs – Liquidity Breakdown (%), 2011–2020

Figure 32: Swiss UHNWIs – Asset Class Composition (%), 2011–2020

Figure 33: Swiss Exchange Rate – CHF–US$, 2011–2020

Figure 34: Swiss Real GDP Growth (%), 2011–2020

Figure 35: Swiss GDP per Capita (US$), 2011–2020

Figure 36: Swiss Domestic Market Capitalization (US$ Billion), 2011–2015

Figure 37: Swiss Commodity Indices, 2011–2020

Figure 38: Swiss Foreign Direct Investment (US$ Billion), 2011–2020

Figure 39: Swiss Inflation Rate (%), 2011–2020

Figure 40: Swiss Money Market Rates (%), 2011–2020

Figure 41: Swiss Balance of Payments (US$ Billion), 2011–2015

Figure 42: Swiss Government Debt as a Percentage of GDP (%), 2011–2020

Figure 43: Swiss Stock Market Performance (Index), 2011–2015

Figure 44: Swiss HNWI Wealth vs GDP Ratio (%), 2011–2020

Figure 45: Swiss HNWIs – Volume by Wealth Band, 2011–2020 85

Figure 46: Swiss HNWIs – Wealth by Wealth Band (US$ Billion), 2011–2020

Figure 47: Swiss HNWIs – Wealth per Capita (US$ Million), 2011–2020

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