Rising interest rates are cooling the appetite for mergers and acquisitions of European banks. While many predicted that higher borrowing costs would provide more funds and spur reshuffles among the sector's major players, lenders are actually staying away or even walking away from deals. The timing is proving unfavorable, as the true value of assets that would be devalued under current conditions is coming to light as they are purchased.
As global markets face exceptional instability, HNWIs and UHNWIs are confronted with the complicated challenge of preserving and growing their wealth. What are the proven strategies for preserving wealth across generations? The role of fintech in asset management is essential, and platforms like Altoo are becoming indispensable in this space.
The overall financial services industry is enormous and very profitable. Over the past decade, fintechs have attracted more than USD 500 billion in funding. Since 2019, they have received roughly 20% of global venture capital outlays, attracting large amounts of capital from generalists, technology private investors, and hedge funds. Still, more than half the world’s population remains unbanked or underbanked, says the latest BCG Global Fintech Report 2023.
The economy of one of the richest countries in the world has stopped growing. This, in a nutshell, is how the state of Switzerland's economic development can be described over the past few months. According to official figures, the country's gross domestic product grew by 0.0% in the second quarter of the year, and this is very close to a downturn and eventual recession.
Since early summer, crude oil prices have risen almost steadily. Brent crude oil, the most important type of crude for Europe and currently the reference grade for the world market, peaked in September with an average price of USD 93.39 per barrel (159 liters).
Switzerland is among the strongest national brands in the world and Swiss companies are among the most globally recognisable. This is how this year's Brand Finance rankings, which each year determine the financial value of the strongest brands on the continent and in the world, can be described in one sentence.
Inflation, a seemingly spectral economic phenomenon, is manifesting with unwavering prominence, revealing its capability to undermine the financial fortifications of even the Ultra-High Net Worth Individuals (UHNWIs) and their Family Offices in Europe. It is a force that subtly erodes the purchasing power of wealth, raising apprehensions and obliging a re-evaluation of wealth preservation strategies amongst the affluent.
Is there any place in the world, where good governance and economic growth are obvious? Where the best global practices are adopted? Fourteen years ago, the US economist Paul Romer introduced his theory of charter cities.

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