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Home > Business/Finance > Financial Services > Financial Management
Wealth Management in Argentina 2005
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| Published Date:
October 2006
Published By:
Datamonitor
Page Count:
41
Order Code:
R313-16962
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- EXECUTIVE SUMMARY
- INTRODUCTION
- What is this report about?
- Who is the target reader?
- How to use this report
- Note on exchange rates
- ARGENTINE MASS AFFLUENTS AND HIGH NET WORTHS
- Introduction
- Argentina's retail savings and investments market has changed substantially since 2001
- Prior to 2001 98% of Argentina's retail investments were held in deposits, but the corralito dramatically changed the investment landscape
- 46,000 wealthy Argentines hold EUR15bn in onshore liquid assets, but the population took a fall in the early part of this century
- The economic crisis of 2001 wiped out more than 7,000 wealthy individuals
- Market size has recovered, but trust has not
- Government debt was restructured in 2003 to instill greater investor confidence
- But the plan brought with it several problems
- However the Argentine banking system is starting to recover
- But Argentine banks must make sure they invest in disaster recovery measures
- The regulatory environment in Argentina is open, but difficult to navigate
- Foreign bank ownership is not restricted in the country
- But banking regulation is inconsistently applied
- Data Tables
- COMPETITION FOR ARGENTINE WEALTHY CLIENTS
- Introduction
- Argentina's banking market is concentrated and foreign competition is strong
- The 10 largest banks hold more than 70% of total deposits
- Foreign banks are well-established in the country
- Onshore wealth management is relatively limited
- Several foreign banks do have some form of local representative office but most target wealthy clients from offshore centres
- Banco de la Nación Argentina is the largest bank in the Argentine market
- Banco Rio de la Plata is one of the few Argentinian banks to offer a specialised private banking service
- Banco de Galicia y Buenos Aires is Argentina's largest private bank (ie, not public)
- Significant flows of wealth move offshore, much of it to Miami
- Some estimates put Argentine offshore wealth at more than USD100m
- Miami is a favorite destination for Argentine wealth
- FUTURE MARKET SIZE
- Introduction
- By 2009, 56,200 Argentines will hold EUR18.9bn in onshore liquid assets
- Both the government & the central bank of Argentina have a responsibility to ensure the growth of the Argentinian economy
- The banking market as a whole will have to confront several challenges
- Private banks will have to adapt the way they do business and concentrate on inspiring consumer confidence
- Data Tables
- APPENDIX
- Definitions
- Aggregate
- High net worth (HNW)
- Liquid assets
- Liquid asset bands
- Mass affluent
- Global Wealth Model Methodology
- The UK sub model
- European sub model
- Forecasting methodology
- Continuous refinement to the understanding of liquid wealth distribution
- Specific changes to data this year
- Datamonitor's wealth numbers compared with other wealth numbers
- Further Reading
- Global Wealth Management SPP
- Interactive Databases
- Market Reports
- Strategic Insight Reports
- Wealth Management Competitor Tracker
- Datamonitor Asia Pacific Wealth Management SPP
- SPP writing team
- List of Tables
- Table 1: Argentina mass affluent onshore liquid assets, EURbn, 2000-4
- Table 2: Argentina number of mass affluent individuals, EURbn, 2000-4
- Table 3: Argentina high net worth onshore liquid assets, EURbn, 2000-4
- Table 4: Argentina number of high net worth individuals, EURbn, 2000-4
- Table 5: Argentina mass affluent onshore liquid assets, EURbn, 2005-9
- Table 6: Argentina number of mass affluent individuals, EURbn, 2005-9
- Table 7: Argentina high net worth onshore liquid assets, EURbn, 2005-9
- Table 8: Argentina number of high net worth individuals, EURbn, 2005-9
- List of Figures
- Figure 1: Argentina's currency crisis in 2001 completely changed the retail investment market
- Figure 2: Millionaires in Argentina hold nearly half of all onshore liquid wealth, 2004
- Figure 3: The corralito had a terrible effect on Argentina's wealthy
- Figure 4: The top 10 banks in Argentina hold more than 70% of all deposits in the country
- Figure 5: Argentine onshore wealth will grow steadily to 2009
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