Synopsis
This report is the result of WealthInsight’s extensive research covering the UHNWI population and wealth management industry in France. It provides market sizing and forecasts of UHNWI populations. The report leverages WealthInsight’s HNWI Database, to provide key demographic breakdowns as well as region and city specific data.
Summary
This report provides historical trends and projections of the volume and wealth of French UHNWIs by city and sector. The report then reviews these findings in an analysis of the French Wealth Management and Private Banking sector, and the opportunities therein.
Scope
The report features:
• Independent market sizing of French UHNWIs
• Region and sector wise breakdowns of UHNWI wealth and wealth growth from 2007 to 2015
• Number of UHNWIs in each city
• 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.
• Information on sources of wealth for HNWIs in each major city, by industry and other measures.
Key Highlights
• There are almost 3,800 Ultra HNWIs in France, with an average wealth of over US$135 million per person and a combined wealth of almost US$525 billion.
• While Ile-de-France is home to the largest number of UHNWIs, there are also sizable UHNWI populations in the Rhone Alpes, Pays-de-la-Loire, Aquitaine and Provence-Alpes-Côte d'Azur.
• Rhone-Alpes and Nord-pas-de-Calais were the top performing regions for UHNWIs over the review period.
• On a city level, Paris has the highest number of UHNWIs followed by Marseille, Lyon, Strasbourg, Toulouse and Sainte Etienne.
• 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%.
Private Banking Industry in France
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 17
4 Findings from the WealthInsight HNWI Database
4.1 UHNWIs
4.1.1 UHNWI Volume Trend Analysis
4.1.2 UHNWI Wealth Trend Analysis
4.1.3 UHNWIs: Demographic Breakdown
4.1.4 UHNWIs – Job Titles
4.1.5 Industry Breakdown
4.1.6 Industry Performance
4.1.7 Industry Forecasts
4.1.8 UHNWIs – Importance of Entrepreneurship
4.1.9 UHNWIs: Demographic Breakdown by Region
4.1.10 Regional Performance
4.1.11 Regional Forecasts
4.1.12 Ill-de-France Review
4.1.13 City Review
4.2 UHNWIs – The Billionaires
4.2.1 Billionaire Volume Trend Analysis
4.2.2 Billionaire Wealth Trend Analysis
4.2.3 Billionaire Per Capita Net Worth Trend Analysis
4.2.4 City-wise Breakdown of Billionaires in France
4.2.5 Industry Breakdown of Billionaires in France
4.2.6 Top Billionaires in France
4.3 UHNWIs – The Centimillionaires
4.3.1 Centimillionaire Volume Trend Analysis
4.3.2 Centimillionaire Wealth Trend Analysis
4.3.3 Centimillionaire Per Capita Net Worth Trend Analysis
4.4 UHNWIs – The Affluent Millionaires
4.4.1 Affluent Millionaire Volume Trend Analysis
4.4.2 Affluent Millionaire Wealth Trend Analysis
4.4.3 Affluent Millionaire Per Capita Net Worth Trend Analysis
5 Analysis of French UHNWI Investments
5.1 Analysis by Asset Classes
6 Competitive Landscape of the Wealth Sector
6.1 Private Banking Industry Players
6.1.1 Private Banks
6.1.2 Wealth Managers
6.1.3 Family Offices
6.1.4 Financial Advisors
6.2 Wealth Management Industry by Wealth Band
6.3 Leading Companies in the Wealth Management and Private Banking Industry
6.4 Wealth Management Professionals
6.5 French Wealth Management Industry – Clientele Model and Maturity
6.6 Developments in the French Private Banking Industry
6.7 Behavioral Mapping of Wealth Management and Private Banking Industry in France
6.8 Porter’s Five Force Analysis – Wealth management industry
6.9 Financial Services Review
6.9.1 Retail Banks
6.9.2 Fund Managers and Hedge Funds
6.9.3 Insurance Companies
7 Appendix
7.1 Major Cities and Departments in France
7.2 Challenges and Opportunities for the Wealth Sector in France
7.2.1 Regulatory Environment
7.2.2 Human Resource availability for the wealth management industry
7.2.3 Philanthropy
7.2.4 Demand for Intergenerational Wealth Transfer and Younger Clientele
7.3 Regulatory Environment in France
7.3.1 Banking Regulations
7.3.2 Regulations on Taxes
7.3.3 Regulations on Wealth Management and Private Banking
7.3.4 Regulations on Fund Management
7.3.5 Regulations on Foreign Investment
7.3.6 Regulations on Hedge Funds
7.3.7 Regulations on Private Equity and Venture Capital
7.4 Key Economic Trends and Drivers
7.4.1 EUR to USD Moving Annual Average Exchange Rate
7.4.2 Real GDP Growth
7.4.3 Per Capita GDP
7.4.4 Gross Savings Rate as a Percent of GDP
7.4.5 Domestic Market Capitalization
7.4.6 Housing Price Index
7.4.7 Commodity Index
7.4.8 Foreign Direct Investment
7.4.9 Investments of FII’s in Equity Products
7.4.10 Inflation Rate
7.4.11 Interest Rate
7.4.12 Balance of Payments
7.4.13 Government Debt
7.4.14 Stock Market Performance
7.4.15 HNWI Wealth vs. GDP Ratio
7.4.16 Capital Formation as Percent of GDP
7.4.17 Disposable Income as Percent of GDP
7.5 Case Study: Financial Regulation in the European Region
8 About WealthInsight
List of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: Largest Regions, 2010
Table 3: UHNWIs – Volume by `Wealth Band, 2007-15
Table 4: UHNWIs – Wealth by Wealth Band, 2007-15
Table 5: Top 10 French regions for UHNWIs, 2011
Table 6: UHNWIs – Major regions by sector, 2011
Table 7: UHNWIs – Regions by Wealth Growth, 2007–2011
Table 8: UHNWIs – WealthInsight Forecasts
Table 9: UHNWIs – Ile-de-France Departments, 2007–2011
Table 10: UHNWIs – Major cities/towns in Ile-de-France, 2011
Table 11: UHNWIs – Major French Cities outside of Ile-de-France, 2011
Table 12: UHNWIs – The Billionaires – Market Overview, 2007-15
Table 13: Billionaires – Cities by Wealth Growth, 2007–2011
Table 14: UHNWIs – Billionaires – Sector Breakdown, 2011
Table 15: Billionaire’s Top 20 List, 2011
Table 16: UHNWIs – Centimillionaires – Market Overview, 2007-15
Table 17: UHNWIs – The Affluent Millionaires – Market Overview, 2007-15
Table 18: UHNWIs – Allocations and Share of HNWI Assets, 2011
Table 19: Wealth Management Offices by Region, 2011
Table 20: Asset Allocation of Typical European Single Family Office, 2011
Table 21: Wealth Management by Wealth Band, 2011
Table 22: Major Companies in the Wealth Management Industry in France
Table 23: Multi-Family Offices in France
Table 24: Breakdown of portfolios per manager, 2011 60
Table 25: Largest 10 Cities in France by population
Table 26: Il-de France Departments
Table 27: Euro to USD Moving Annual Average Exchange Rate, 2006–15
Table 28: Real GDP Growth Rate, 2006–15
Table 29: GDP Per Capita, 2006–15
Table 30: Gross Savings as a % of Real GDP, 2006–2015
Table 31: Domestic Market Capitalization, 2006–10
Table 32: Housing Price Index, 2006–10
Table 33: Commodity Indices, 2006–15
Table 34: Foreign Direct Investments, 2006–2015
Table 35: Investments of FIIs in Equity Products, 2006–10
Table 36: Inflation Rate, 2006–15
Table 37: Money Market Rate, 2006–15
Table 38: Balance of Payments, 2006-10
Table 39: Government Debt to GDP, 2006–15
Table 40: Stock Market Performance, 2006–11
Table 41: HNWI Wealth vs. GDP Ratio, 2006–15
Table 42: Capital Formation as % of GDP, 2006-15
Table 43: 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: UHNWIs – Volume by Wealth Band, 2007-15
Figure 7: UHNWIs – Wealth by Wealth Band (in US$ Billion), 2007-15
Figure 8: UHNWIs – Age Distribution, 2011
Figure 9: UHNWIs – Job Titles, 2007- 2011
Figure 10: UHNWIs – Distribution by Industry, 2011
Figure 11: UHNWIs – Sector Performance, 2007–2011
Figure 12: UHNWIs – Sector Performance, 2010–2011
Figure 13: UHNWIs – Sector Forecasts, 2011–2015
Figure 14: UHNWIs – Importance of Entrepreneurship, 2011
Figure 15: UHNWIs – Regional Distribution, 2011
Figure 16: UHNWIs – Human Capital Development Index by Region, 2011
Figure 17: UHNWIs – Region by Sector, 2011
Figure 18: UHNWIs – Regional Performance, 2007-2011
Figure 19: UHNWIs – Regional Performance, 2010-2011
Figure 20: UHNWIs – Regional Forecasts, 2011-2015
Figure 21: UHNWIs – Ile-de-France, 2007-2011
Figure 22: UHNWIs – The Billionaires – Market Overview, 2007-15
Figure 23: UHNWIs – Centimillionaires – Market Overview, 2007-15
Figure 24: UHNWIs – The Affluent Millionaires – Market Overview, 2007-15
Figure 25: UHNWIs – Asset Class Composition, 2007-15
Figure 26: Wealth Management Industry in France – Clientele Model
Figure 27: French Wealth Management Industry – Behavioral Mapping, 2011
Figure 28: UK Wealth Management Industry – Porters Five Forces
Figure 29: Suppliers – Maturity level of players
Figure 30: GBP to USD Moving Annual Average Exchange Rate, 2006–15
Figure 31: Real GDP Growth (%), 2006–15
Figure 32: GDP Per Capita, 2006–15
Figure 33: Gross Savings as a % of Real GDP, 2006–2015
Figure 34: Domestic Market Capitalization, 2006–10
Figure 35: Housing Price Index, 2006–10
Figure 36: Commodity Indices, 2006–15
Figure 37: Foreign Direct Investments, 2006–2015
Figure 38: Investments of FIIs in Equity Products, 2006–10
Figure 39: Inflation Rate, 2006–15
Figure 40: Money Market Rate, 2006-15
Figure 41: Balance of Payments, 2006-10
Figure 42: Government Debt to GDP, 2006–15
Figure 43: Stock Market Performance, 2006–11
Figure 44: HNWI Wealth vs. GDP Ratio, 2006–15
Figure 45: Capital Formation as % of GDP, 2006-15
Figure 46: Disposable Income as % of GDP, 2006-15
Companies mentioned
AXA Bank Europe
Barclays Wealth
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC Private Bank
JP Morgan Private Banking
Julius Baer
Lazard Frères
Pictet & Cie
Quilvest
Rothschild & Cie
Sal. Oppenheim
UBS Wealth
Aforge Finance
BNP Paribas
Banque Transatlantique
Bred Banque Privée
CIC Banque
Crédit Agricole
Dexia Group
Edmond de Rothschild
EFG Banque Privée
Gestion Privée Indosuez
La Banque Postale
Lazard Frères Banque
LCL Banque Privée
LCL S.A.
Lombard Odier Darier Hentsch
Martin Maurel
Meeschaert Gestion Privée
Natixis S.A.
Neuflize OBC
Oddo & Cie
Postale Gestion Privée
Privée Européenne
SG Private Banking
Actionnal
Affectio Finance - Family Office
Aforge Family Office
Anthony & Cie
Antium France Family Office
Financière MJ
Gosset Grainville Family Office
Intuitae
Janvier Participations
La Fontaine Family Office
Meeschaert Family Office
Natixis SA - FO division
Novances Family Office
Patrimonial Management
Pergam Finance
Quilvest Family Office of Quilvest Banque Privée
Riviera Family Office
Societe Generale SA - FO division
Unigestion - Family Office
