Time for private banks to tap Gulf wealth?
There are more than half a million wealthy individuals in the Gulf Cooperation Council region with too few private bankers to serve them. It could be time for wealth managers to step up.
Private banks need to establish a greater presence in Gulf Cooperation Council (GCC) countries and place more staff there if they are to benefit from the region’s wealth, writes Scorpio Partnership.
A study by the GCC published towards the end of last year, plus publicity surrounding the upcoming World Expo 2020 to be held in Dubai, has concentrated attention on the region, specifically the provision of financial services to the wealthy.
There are about half a million high-net-w…
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