Bharat Book

Challenges and Opportunities for the Wealth Sector in Mexico

Press Release   •   Jun 25, 2013 11:46 IST

Between 2007 and 2012 the number of UHNWIs in Mexico increased by 19% from 2,129 to 2,540.
 In 2012, Mexican HNWI numbers rose by 15.7%, following a moderate growth of 0.4% in 2011. This strong growth in HNWI wealth and volumes is expected to continue and grow by 47% to reach 213,000 in 2017. HNWI wealth will also see a larger percentage increase, growing by 54% to reach US$1.1 trillion.
 It has been estimated that, at the end of 2012, Mexican local private banking assets under management (AuM) totaled just over US$190 billion. The top five banks by local AuM are Banorte, Banamex (Citigroup), BBVA Bancomer, Santander and Scotiabank. Interestingly, the number of wealth management offices per UHNWI in Monterrey and Guadalajara is relatively low. This shows that there is scope for more wealth managers to set up business in these two cities.
 Mexico’s unemployment rate stood at 5.0% at the end of 2012, compared to 4.0% at the end of 2007. Despite the increase, this is relatively healthy when compared to major markets such as the US and the EU which had respective unemployment rates of 7.5% and 12.1% in 2012. Mexico was severely impacted by the recent financial crisis with economic growth declining from 3.3% in 2007 to 1.2% in 208, and then to -6.0% in 2009.
 Looking forward, Mexico’s economy has a number of underlying problems that may negatively impact its future growth. These include the fact that the oil industry remains state controlled, with foreign investment prohibited by the constitution, thus making the local industry highly uncompetitive. There is also the problem that the lack of competition in major sectors, such as telecoms, limits growth and has created a less innovative environment.
 Reasons to buy
 • Understand the figures surrounding individual wealth in Mexico.
 • Identify the trends in HNWI wealth including information on Billionaires, Centimillionaires, Affluent Millionaires and Core HNWIs.
 • Understand the distribution and volume of the different types of HNWIs and UHNWIs within Mexico.
 • Receive an analysis of Mexican HNWI investments and a review of the competitive landscape within the wealth sector.
 Table of Contents
 1 Introduction
 1.1 Details of this Report
 1.2 Definitions
 2 Executive Summary
 3 Wealth Sector Fundamentals
 3.1 Political Background
 3.2 Economic Background
 3.3 Benchmarking Mexico Wealth in Context
 3.3.1 World statistics
 3.3.2 Distribution of wealth in Mexico
 3.4 HNWI Volume and Wealth Trends
 4 Competitive Landscape of the Wealth Sector
 4.1 Competitive Landscape
 4.1.1 Private banks
 4.1.2 Wealth managers
 4.2 Family Offices
 4.2.1 Offshore wealth
 4.2.2 Saturation by city
 4.3 Wealth Management Industry – Clientele Model and Maturity
 4.4 Behavioral Mapping of Wealth Management and Private Banking Industry in Mexico
 4.5 Pension Fund Industry
 5 Appendix
 5.1 Regulations on Taxes
 5.2 Economic Indicators
 5.2.1 Peso to dollar exchange rate
 5.2.2 Real GDP growth
 5.2.3 Per capita GDP
 5.2.4 Domestic market capitalization
 5.2.5 Commodity index
 5.2.6 Foreign direct investment
 5.2.7 Inflation rate
 5.2.8 Interest rate
 5.2.9 Balance of payments
 5.2.10 Stock market performance
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