Offshore Wealth Management - Market Trends and Competitive Dynamics 2021

Table of Contents

Table of Contents

1. Executive Summary

• 1.1 Market overview
• 1.2 Key findings
• 1.3 Critical success factors

2. Offshore Market Context

• 2.1 Non-resident investment assets continue to grow in a challenging environment

3. Challenges and Opportunities in Offshore Wealth

• 3.1 Regulation is a major cloud on the horizon
• 3.2 Geopolitical risk in the form of war is a major concern

4. Competitive Dynamics

• 4.1 Offshore wealth management is well developed in most regions
• 4.2 Digitization has become central to the offshore investment market, expanding the client base down market
• 4.3 Traditional full-service offshore wealth managers

5. Appendix

• 5.1 Supplemental data
• 5.2 Abbreviations and acronyms
• 5.3 Definitions
• 5.4 Methodology
• 5.5 Secondary sources
• 5.6 Further reading
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List of Tables

List of Tables

• Table 1: Non-resident assets growth rates, 2020-21
• Table 2: Selected markets rates of offshore investment in the general population, 2020-21

List of Figures

List of Figures

• Figure 1: Offshore assets surged early in the pandemic as investors sought safe havens early on and then sought out investment opportunities
• Figure 2: The tidal wave of non-resident wealth into Europe is receding
• Figure 3: The central roles of New York and London remain even after wealth drains from elsewhere in the regions
• Figure 4: Asia-Pacific is once again back to driving growth in the offshore market
• Figure 5: Negative macroeconomic 'push' factors are driving the increase in HNW offshore investment
• Figure 6: Australian investors who are keen to directly own a trendy tech stock are being targeting by moomoo
• Figure 7: Anonymity and tax were largely absent as drivers for offshoring during the pandemic
• Figure 8: Banks significantly increased their hiring for regulation and compliance in the early months of 2022
• Figure 9: Regulation-related job hiring from Dec 14, 2021 to March 14, 2022 compared to previous quarter
• Figure 10: The North American market is well provisioned with offshore services
• Figure 11: Currency risk has grown over the last 10 years and is heightened in times of crisis
• Figure 12: Most private wealth firms in the US and Canada can connect clients to offshore partners
• Figure 13: Citibank's offshore investment options cover multiple asset classes
• Figure 14: ESG is just as important as high returns in markets that Standard Chartered has presence in
• Figure 15: Standard Chartered's international service caters to both liquid and illiquid offshore investments
• Figure 16: HSBC Premier India services focus on international privileges and NRIs