Marktanalyse - Challenges and Opportunities for the Wealth Sector in France

Synopsis
This report is the result of WealthInsight’s extensive research covering the HNWI population and wealth management industry in France.

Summary
This report is a thorough analysis of the French Wealth Management and Private Banking sector, and the opportunities and challenges that it faces.

Scope
The report features:
• Independent market sizing of French HNWIs
• Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in France
• Detailed wealth management and family office information
• Insights into the drivers of HNWI wealth

Reasons To Buy
• The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the Database comprises up to one hundred data-points on over 100,000 HNWIs from around the world. It also includes profiles on major private banks, wealth managers and family offices in each country. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
• Comprehensive forecasts to 2015.

Key Highlights
• As of 2011, there are just over 555,000 HNWIs in France, with a combined wealth of around US$2 trillion, accounting for roughly 16% of France’s total wealth.
• The wealth management sector in France is well developed with AuM of approximately US$1.4 trillion in 2011. Private bank AuM makes up 65% of this total, while wealth managers and family offices together account for the remaining 35%.
• There are 51 private banks and 562 wealth managers currently operating in France.
• French HNWIs account for 31% of total AuM, meaning that 22% of total French HNWI wealth is managed by the French wealth management sector.
• The French wealth management market is centered around Paris, with the Ile-de-France region accounting for 83% of wealth management offices, followed by Rhone Alpes with 5.5% of offices.

Table of Contents

1 Introduction

1.1 What is this Report About?

2 Executive Summary

3 Wealth Sector Fundamentals

3.1 Political Background to the Wealth Sector

3.2 Economic Background to the Wealth Sector

3.3 Benchmarking French Wealth in Context

3.3.1 Distribution of Wealth

4 Competitive Landscape of the Wealth Sector

4.1 Private Banking Industry Players

4.1.1 Private Banks

4.1.2 Wealth Managers

4.1.3 Family Offices

4.1.4 Financial Advisors

4.2 Wealth Management Industry by Wealth Band

4.3 Leading Companies in the Wealth Management and Private Banking Industry

4.4 Wealth Management Professionals

4.5 French Wealth Management Industry — Clientele Model and Maturity

4.6 Developments in the French Private Banking Industry

4.7 Behavioral Mapping of Wealth Management and Private Banking Industry in France

4.8 Porter’s Five Force Analysis — Wealth management industry

4.9 Financial Services Review

4.9.1 Retail Banks

4.9.2 Fund Managers and Hedge Funds

4.9.3 Insurance Companies

5 Appendix

5.1 Major Cities and Departments in France

5.2 Challenges and Opportunities for the Wealth Sector in France

5.2.1 Regulatory Environment

5.2.2 Human Resource availability for the wealth management industry

5.2.3 Philanthropy

5.2.4 Demand for Intergenerational Wealth Transfer and Younger Clientele

5.3 Regulatory Environment in France

5.3.1 Banking Regulations

5.3.2 Regulations on Taxes

5.3.3 Regulations on Wealth Management and Private Banking

5.3.4 Regulations on Fund Management

5.3.5 Regulations on Foreign Investment

5.3.6 Regulations on Hedge Funds

5.3.7 Regulations on Private Equity and Venture Capital

5.4 Key Economic Trends and Drivers

5.4.1 EUR to USD Moving Annual Average Exchange Rate

5.4.2 Real GDP Growth

5.4.3 Per Capita GDP

5.4.4 Gross Savings Rate as a Percent of GDP

5.4.5 Domestic Market Capitalization

5.4.6 Housing Price Index

5.4.7 Commodity Index

5.4.8 Foreign Direct Investment

5.4.9 Investments of FII’s in Equity Products

5.4.10 Inflation Rate

5.4.11 Interest Rate

5.4.12 Balance of Payments

5.4.13 Government Debt

5.4.14 Stock Market Performance

5.4.15 HNWI Wealth vs. GDP Ratio

5.4.16 Capital Formation as Percent of GDP

5.4.17 Disposable Income as Percent of GDP

5.5 Case Study: Financial Regulation in the European Region

6 About WealthInsight







List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Largest Regions, 2010

Table 3: Wealth Management Offices by Region, 2011

Table 4: Asset Allocation of Typical European Single Family Office, 2011

Table 5: Wealth Management by Wealth Band, 2011

Table 6: Major Companies in the Wealth Management Industry in France

Table 7: Multi-Family Offices in France

Table 8: Breakdown of portfolios per manager, 2011

Table 9: Largest 10 Cities in France by population

Table 10: Il-de France Departments

Table 11: Euro to USD Moving Annual Average Exchange Rate, 2006—15

Table 12: Real GDP Growth Rate, 2006—15

Table 13: GDP Per Capita, 2006—15

Table 14: Gross Savings as a % of Real GDP, 2006—2015

Table 15: Domestic Market Capitalization, 2006—10

Table 16: Housing Price Index, 2006—10

Table 17: Commodity Indices, 2006—15

Table 18: Foreign Direct Investments, 2006—2015

Table 19: Investments of FIIs in Equity Products, 2006—10

Table 20: Inflation Rate, 2006—15

Table 21: Money Market Rate, 2006—15

Table 22: Balance of Payments, 2006-10

Table 23: Government Debt to GDP, 2006—15

Table 24: Stock Market Performance, 2006—11

Table 25: HNWI Wealth vs. GDP Ratio, 2006—15

Table 26: Capital Formation as % of GDP, 2006-15

Table 27: Disposable Income as % of GDP, 2006-15







List of Figures

Figure 1: HNWI Wealth Band Definitions

Figure 2: Map of France

Figure 3: Asset Price Performance, 2007-11

Figure 4: French HNWI Performance, 2007-15

Figure 5: HNWI — France vs. the World

Figure 6: Wealth Management Industry in France — Clientele Model

Figure 7: French Wealth Management Industry — Behavioral Mapping, 2011

Figure 8: UK Wealth Management Industry — Porters Five Forces

Figure 9: Suppliers — Maturity level of players

Figure 10: GBP to USD Moving Annual Average Exchange Rate, 2006—15

Figure 11: Real GDP Growth (%), 2006—15

Figure 12: GDP Per Capita, 2006—15

Figure 13: Gross Savings as a % of Real GDP, 2006—2015

Figure 14: Domestic Market Capitalization, 2006—10

Figure 15: Housing Price Index, 2006—10

Figure 16: Commodity Indices, 2006—15

Figure 17: Foreign Direct Investments, 2006—2015

Figure 18: Investments of FIIs in Equity Products, 2006—10

Figure 19: Inflation Rate, 2006—15

Figure 20: Money Market Rate, 2006-15

Figure 21: Balance of Payments, 2006-10

Figure 22: Government Debt to GDP, 2006—15

Figure 23: Stock Market Performance, 2006—11

Figure 24: HNWI Wealth vs. GDP Ratio, 2006—15

Figure 25: Capital Formation as % of GDP, 2006-15

Figure 26: Disposable Income as % of GDP, 2006-15

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