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表紙:ウェルスマネージャー:世界の競合ダイナミクス (2020年)
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967215

ウェルスマネージャー:世界の競合ダイナミクス (2020年)

Global Wealth Managers - Competitive Dynamics 2020

出版日: | 発行: GlobalData | ページ情報: 英文 41 Pages | 納期: 即納可能 即納可能とは

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ウェルスマネージャー:世界の競合ダイナミクス (2020年)
出版日: 2020年10月16日
発行: GlobalData
ページ情報: 英文 41 Pages
納期: 即納可能 即納可能とは
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  • 全表示
  • 概要
  • 図表
  • 目次
概要

当レポートでは、顧客資産および財務実績を管理する世界の主要なウェルスマネージャーについてベンチマーキングしており、さまざまな地域でクライアント資産を拡大する際の課題、ウェルスマネジメント事業の収益性、競合他社の戦略運用コストの管理と収益の増加における業界のベストプラクティスなどについても調査しています。

目次

第1章 エグゼクティブサマリー

  • 大手ウェルスマネージャーは、申し分のない状態でCOVID-19危機に参入
  • 主な調査結果
  • 重要な成功要因

第2章 ウェルスマネージャーのベンチマーキング:クライアントAUM別

  • クライアント資産は、3月にクラッシュする前に、過去最高で2019年に終了
    • 市場がポートフォリオを推進するにつれて、上位のウェルスマネージャーは市場シェアを取り戻す
    • 2020年上半期に引き続きプラスの純新規資金があったことで、トップ銀行は危機の中でいい位置に付ける
  • 2019年の好調な結果もパンデミックも、上位のランキングを変えることはできない
    • 最大のウェルスマネージャーは、良くも悪くもある業界の状況においてその支配力を維持
    • 主要な投資運用の買収後、M&Aは戦略の議論から遠ざかる
    • 2019年の注目すべきM&Aは、最大のウェルスマネージャーにとってはほとんどない
  • パンデミックは、市場全体よりも大手ブランドにとって問題ではない
    • 2020年下半期には、上位のプライベートウェルスマネージャーが市場を打ち負かす

第3章 ウェルスマネージャーのベンチマーキング:財務実績別

  • 2019年は、主要なウェルスマネージャーの収益性がピークに
    • ウェルスマネージャーは、COVID-19の危機と不況に、高収益で参入
    • 収益は、ほとんどのウェルスマネージャーにとって明るい総利益の背後にある大きな促進要因
  • グループの業績は弱く、ウェルスは唯一の明るい点
    • グループの利益は、数年の成長の後、わずかに減少
    • 2020年におけるウェルスマネジメント部門の比較的安定した収益は、グループ所得のシェアが増加する可能性

第4章 競争の動向

  • 持続可能な投資は、主要なウェルスマネージャーにとってますます優先事項に
    • ESGとSRIの機能は今や差別化と競合のポイントに
    • ウェルスマネージャーは、しばらくの間、持続可能な投資を構築
    • 以前は懐疑的だったアジアは、ますますこの傾向を受け入れ
  • 景気後退後、個人資産の閾値は上昇する可能性が高い
    • 大手ウェルスマネージャーは依然として主に富裕層で活動
    • 小売および大量富裕層は依然として少数派ですが、その割合は増加
    • 最大のプライベートバンクのウェルス部門では、ファミリーオフィスのサポートが拡大
  • 次世代プログラムは、全体的なウェルスマネジメントで解約を制限するよう努める
    • 成長の機会と富の移転の脅威は、次世代に注目を集める
    • ウェルスマネージャーは、新世代の富裕層クライアントに適応する必要
    • 刷新された新しい次世代プログラムは、トップ企業の間でますます重要なサービスになりつつある
  • 規制の問題とデジタルトランスフォーメーションの両方がパンデミックによって大きく混乱
    • 資産の長期的な問題であるデジタルトランスフォーメーションは、リモートワークに再び焦点を合わせる
    • 規制の問題はウェルスマネージャーにとって常に懸念事項ですが、市場の混乱は急上昇を引き起こす

第5章 付録

  • 補足データ
  • 略語と頭字語
  • 二次資料
  • 参考文献
図表

List of Tables

List of Tables

  • Table 1: Private wealth management unit standard minimum account thresholds
  • Table 2: Robo-advisor offerings among selected wealth managers, August 2020
  • Table 3: Net new money from reporting wealth management competitors, 2012-19 ($bn)

List of Figures

List of Figures

  • Figure 1: Leading players won back market share in 2019, accounting for just over a third of HNW wealth
  • Figure 2: Almost all changes in client assets in 2019 were due to market effects and net inflows
  • Figure 3: Inflows were up in 2019 but were still down from the all-time high seen in 2017
  • Figure 4: All of the top 10 saw growth in 2019, but Goldman Sachs grew by almost a quarter
  • Figure 5: M&A is increasingly off the board for the majors as they focus on the next gen and digital
  • Figure 6: Wealth managers will pick up market share as a result of the recession
  • Figure 7: COVID-19 is expected to knock back the impressive gains in profitability made by the industry in 2019
  • Figure 8: Wealth profits surged at Goldman Sachs, but much of this was due to changes in reporting lines
  • Figure 9: A promising 2019 will give way to a poor 2020 as revenue drops significantly in the recession
  • Figure 10: Shifts in business mix were mostly the result of other divisions, with only a few banks reporting large swings
  • Figure 11: After lagging the market in 2018, group profits surged at European and Swiss wealth managers
  • Figure 12: Some of the largest declines in profits were from groups that had posted exceptionally high 2018 numbers
  • Figure 13: Overall, shifts towards more wealth in the group business mix have been modest in recent years
  • Figure 14: The majority of global wealth managers offer SRI solutions to their private wealth management clients
  • Figure 15: Average retail assets represent 42.8% of total individual AUM at leading wealth managers
  • Figure 16: SRI, social media, and young investor events are all secondary to investing in a solid digital strategy
  • Figure 17: Vanguard's hybrid robo-advice service is the only robo to gain scale
  • Figure 18: Regulation has been fading as a worry, but the pandemic is on track to cause a spike in regulatory disputes
目次
Product Code: GDFS0277IA

This report benchmarks the world's leading wealth managers by managed client assets and financial performance. The report covers the 44 most prominent institutions, including standalone private banks and wealth managers, as well as competitors that are part of larger universal financial groups. All international public wealth managers with over $100bn in private client AUM are featured in the report.

The leading wealth managers around the world entered 2020 in a relatively strong position with a stellar year for client assets, driven both by a buoyant market and positive client inflows. The cost-to-revenue ratio also improved after a couple of stagnant years, driven mostly by higher revenues significantly outpacing growth in costs.

Scope

  • lient assets ended 2019 at an all-time high, before crashing in March.
  • Half-year data in 2020 suggests the big wealth brands will grow client assets under management (AUM) by the end of 2020.
  • Cost/revenue ratios improved in 2019, putting wealth managers in a good position for the crisis.
  • COVID-19 did hammer the portfolios of all major wealth managers, but a swift recovery in client AUM is already underway, driven by positive net inflows and market performance.

Reasons to Buy

  • Benchmark your AUM and financial performance against the biggest players in the industry.
  • Understand the challenges in growing client assets in different geographies.
  • Learn about your competitors' strategies related to expanding client books.
  • Find out how profitable the wealth management business is.
  • Identify the industry's best practices in managing operating costs and boosting revenues.
  • Discover how wealth managers' M&A activity affects their financial performance.

Table of Contents

Table of Contents

1. EXECUTIVE SUMMARY

  • 1.1. Leading wealth managers entered the COVID-19 crisis in great shape
  • 1.2. Key findings
  • 1.3. Critical success factors

2. BENCHMARKING WEALTH MANAGERS BY CLIENT AUM

  • 2.1. Client assets ended 2019 at an all-time high, before crashing in March
    • 2.1.1. The top wealth managers gained back market share as markets propelled portfolios forward
    • 2.1.2. Continued positive net new money in the first half of 2020 positions top banks well in the crisis
  • 2.2. Neither the buoyant 2019 results nor the pandemic appear able to shift the top rankings
    • 2.2.1. The largest wealth managers retained their grip in fair and foul industry conditions
    • 2.2.2. After key investment management acquisitions, M&A has fallen away from strategy discussions
    • 2.2.3. Notable M&A in 2019 was few and far between for the largest wealth managers
  • 2.3. The pandemic is less of an issue for big brands than the overall market
    • 2.3.1. In H2 2020, the top private wealth managers are beating the market

3. BENCHMARKING WEALTH MANAGERS BY FINANCIAL PERFORMANCE

  • 3.1. 2019 represented a peak in profitability for major wealth managers
    • 3.1.1. Wealth managers entered the COVID-19 crisis and recession on a profit high
    • 3.1.2. Revenue was the big driver behind the sunnier profit total for most wealth managers
  • 3.2. Group performance was weak, making wealth a lone bright spot
    • 3.2.1. Group profits were marginally down after a couple of years of growth
    • 3.2.2. Wealth management divisions' relatively stable 2020 revenue will likely see growth in share of group income

4. COMPETITIVE TRENDS

  • 4.1. Sustainable investing is increasingly a priority for major wealth managers
    • 4.1.1. ESG and SRI capabilities are now a point of differentiation and competition
    • 4.1.2. Wealth managers have been building up sustainable investing for some time
    • 4.1.3. Asia, previously skeptical, is increasingly embracing the trend
  • 4.2. Thresholds for private wealth are likely to rise after the recession
    • 4.2.1. Leading wealth managers are still primarily operating in the HNW space
    • 4.2.2. Retail and mass affluent wealth is still a minority,but its proportion is increasing
    • 4.2.3. Family office support is growing in the wealth divisions of the largest private banks
  • 4.3. Next-gen programs are endeavoring to limit churn with holistic wealth management
    • 4.3.1. The growth opportunity and threat of wealth transfer have focused attention on the next gen
    • 4.3.2. Wealth managers have to adapt to a new generation of HNW clients
    • 4.3.3. Revamped and new next-gen programs are increasingly becoming an important service among top players
  • 4.4. Regulatory issues and digital transformation have both been heavily disrupted by the pandemic
    • 4.4.1. Digital transformation, a long-term issue for wealth, was refocused onto remote working
    • 4.4.2. Regulatory issues are a constant worry for wealth managers,but market turmoil causes a spike

5. APPENDIX

  • 5.1. Supplemental data
  • 5.2. Abbreviations and acronyms
  • 5.3. Secondary sources
  • 5.4. Further reading
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