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Company Insights
NewSingapore Exchange Limited – Digital Transformation Strategies
SGX Digital Transformation Strategies Report Overview Singapore Exchange Limited uses emerging technologies as a part of its digital transformation strategies. The annual ICT spending of SGX was estimated at $53.6 million in 2022. A major share of this spending is earmarked for acquiring software, network and communications, and ICT services from vendors. Singapore Exchange Limited (SGX) is a financial market “infrastructure,” operating equity, derivatives, and fixed-income markets. It offers trading, listing, settlement, clearing, depository, and data services, with approximately 80%...
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Company Insights
NewTravelers – Digital Transformation Strategies
Travelers Digital Transformation Strategies Report Overview Travelers has been focusing on using data analytics, virtual reality, artificial intelligence, and the cloud to digitally transform its operations. The annual ICT spending of Travelers was estimated at $770 million for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Travelers is an insurance company that offers a range of commercial and personal property and casualty insurance products and services. It provides insurance products...
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Company Insights
State Street – Digital Transformation Strategies
State Street Digital Transformation Strategies Report Overview State Street has been banking on emerging technologies such as blockchain, big data, and AI to enhance operations and improve customer service. The annual ICT spending of State Street was estimated at $2.7 billion in 2022. A major share of this spending is earmarked for acquiring ICT services, software, and hardware from vendors. State Street Corporation (State Street) is a financial holding company based in the US. It offers a wide variety of...
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Analyst Opinions
France Wealth Management – HNW Investors 2021
Financial services and healthcare are the key industries for HNW wealth generation followed by construction & engineering, real estate, tech & telecommunication, transport and logistics, retail, fashion & luxury, FMCG, hotels restaurants and leisure, media, diversified, government, basic materials, and energy & utilities. A stellar investment banking performance throughout the year helped boost the revenue and profits of banks during 2021. In addition, a sustained recovery in French retail banking since Q2 2021 and lower risk financing costs also contributed...
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Company Insights
Competitor Profile: Bank of America Wealth Management
This competitor profile provides a comprehensive analysis of Bank of America’s private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service propositions are covered, as are product innovation and marketing activities. Bank of America operates through four business segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Merrill (formerly Merrill Lynch Wealth Management) and Bank of...
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Sector Analysis
Italy Wealth Management – Market Sizing and Opportunities to 2025
The Italian resident retail savings and investments market was $2,240.56 billion in 2020. The market is expected to grow at a CAGR of more than 3% during the forecast period 2021-2025. Italy’s affluent segment (covering HNWs and mass affluents) accounted for just 15.1% of the total population and held 86% of the country’s total onshore liquid assets in 2020. The majority of the affluent segment holds their wealth in deposits and bonds, indicating their preference for safe-haven assets. Therefore, as...
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Sector Analysis
United Arab Emirates (UAE) Wealth Management – Market Sizing and Opportunities to 2025
The resident retail savings and investments market in the UAE was $177.60 billion in 2020. The market is expected to grow at a CAGR of more than 4% during the forecast period 2021-2025. The UAE’s affluent segment (including HNWs and mass affluents) accounted for a mere 6.8% of the total population and held 81.5% of the UAE’s total onshore liquid assets in 2020. The affluent segment holds the majority of their wealth in safe-haven assets such as deposits followed by...
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Sector Analysis
Mass Affluent Target Propositions, 2021 Update – A Key for Sustainability and Growth
The global wealth market will increase by 8% in 2021. Targeting the mass affluent demographic has worked its way up the priority list for banks and wealth managers in recent years. Some banks are not new to capturing this demographic with dedicated services, but in this digital transformation period competition for this lucrative group is on the rise. Heightened competition and regulatory costs for wealth managers, low interest rate margins for banks, and new digital entrants keen to keep their...
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Sector Analysis
Canada Wealth Management – Market Sizing and Opportunities to 2025
The Canadian resident retail savings and investments market was $3,145.81 billion in 2020. The market is expected to grow at a CAGR of more than 5% during the forecast period 2021-2025. Canada’s affluent segment (covering HNWs and mass affluents) accounted for 32.4% of the total population. The majority of the affluent segment holds their wealth in deposits and mutual funds. Therefore, as the outbreak of the COVID-19 pandemic caused big downward shifts in the market performance of the country, the...
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Sector Analysis
Targeting and Servicing High Net Worth (HNW) Investors – Strategies, Investment Behaviors, Investor Proclivities with regards to Risk, Loyalty, and Product Uptake
This report analyzes and sizes key segments of the global HNW market, providing detailed recommendations on how best to target and service these segments. It explores how investment behaviors differ across different target segments, and highlights different investor proclivities with regards to risk, loyalty, and product uptake. It is based on our proprietary Global Wealth Managers Surveys. A key focus for most wealth providers, HNW entrepreneurs constitute the second-largest target segment (after professionals), followed by females and expats, who represent...
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