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Financial services

World wealth report 2022

A customer-first strategy is pivotal to wealth management success

The past year was one of tremendous wealth accumulation around the world: recovering economies boosted by stock market gains pushed global high net-worth individual (HNWI) population up by 7.8% and 8%, respectively. But to capture this growth, wealth management firms will need new and improved ways of delivering personalization to augment client experience.
Highlights from the Capgemini World Wealth Management Report 2022 include:

  • Equities remained the go-to asset class, and with healthy stock market returns, North America maintained its dominant position in HNWI wealth and population.
  • HNWIs demonstrated measurable interest in emerging asset classes – especially ESG and digital – and vocalized their desire for better digital and personalized offerings.
  • The rise of several new customer segments – millennials, women, Tech-Wealth, LGBTQ+ individuals, and the mass affluent – creates enormous growth opportunities for wealth management firms.
  • Firms that leverage cloud, AI/ML, and digital technologies to strengthen their core and augment capabilities will be well-positioned to personalize client experiences and engagement across channels and products.
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Key highlights

Highlight 1

Equity markets drive North American leadership in wealth and HNWI growth

Unprecedented government stimulus packages, low-interest-rate environments, increased liquidity, stock market gains, and widespread COVID-19 vaccinations drove 2021 global economic resilience and accelerated High Net Worth Individual (HNWI) population and wealth growth.

The global HNWI population expanded by 7.8% (1.7 million new HNWIs), and wealth swelled by 8% (USD6.4 trillion) in 2021. North America retained its commanding lead for HNWI population growth (13.2%) and wealth (13.8%) in 2021. The robust tech sector fuelled powerful wealth performance.

HNWIs’ call for sustainable investing products drives demand for quantifiable ESG impact measurementbeginning their resilience journey

Investing in causes with positive environmental, social, and governmental (ESG) impact is becoming critical for HNWIs. Regionally, HNWIs in Asia-Pacific (excl. Japan), Europe, and Latin America are the most interested in SI products, followed by North America.
As HNWIs become more interested in ESG investment options, WM firms realize they must expand product selection, build educational support, and develop capabilities to measure and communicate ESG impact.

Personalization at each client touchpoint is essential to captivate emerging segments and earn confidence?

New segments are emerging, such as women in wealth, millennials, and next-gen and tech-wealth HNWIs. Most WM firms lack segment-specific products and services, with only 37% providing offerings for women, 22% for millennials, and 53% for tech-wealth HNWIs. WM firms are out to earn and retain the mindshare (vs. their competition) of the emerging client segments. These unique segments, which are in focus now, possess high growth potential and require specialized expertise and offerings.

Customer engagement is a complex process requiring C-level commitment: The Chief Customer Officer in corporate strategy to future-proof business

More and more firms are creating a new role or persona to direct client intimacy, the business, brand, and the ecosystem. This role orchestrates engagement, putting clients at the heart of the WM process. The Chief Customer Officer (CCO) is the best-suited client strategist and engagement orchestrator.

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Meet our experts

Nilesh Vaidya

Global Industry Head – Retail Banking & Wealth Management

Marie Wattez

Global Head of Private Banking & Wealth Management

Roy Crociani

Banking & WM Leader, APAC

Maxime Gaudin

Head of Wealth and Asset Management, Capgemini Invent France

Carina Schaurte

Head of Financial Services, Capgemini Invent, Switzerland

Tatiana Collins

Head of Financial Services, Capgemini Invent Asia

Abhishek Singh

Expert in Wealth Management and Investment Management

Tej Vakta

Global Head, ESG Solutions, Financial Services Insights & Data
Tej is a senior leader in banking and wealth management industry and a global head of sustainability solutions at Capgemini, Financial Services Insight &Data. As a transformation leader, he partners with CxO’s and leads ecosystem partners to establish innovation driven growth while empowering them to integrate sustainability and ESG agenda.

    Executive Steering Committee

    WEALTH MANAGEMENT FIRMS

    Harsh Kumar
    Head of US Citi Alliance
    Citi Global Wealth Management

    Indy Reddy
    CTOO
    PGIM Investments

    Patrick Follea
    CEO
    Societe Generale Private Banking

    Paul Richardson
    Client Experience Director
    HSBC Private Bank

    Evy Wee
    Head of Financial Planning, Investments and Insurance Solutions
    DBS Bank

    James Dunlop
    General Manager, Private Banking and Advice
    ANZ Private

    WEALTHTECHS AND FAMILY OFFICE

    Dan Mercurio
    Head of Strategic Partnerships
    SIGFIG

    Francois Simon
    President & Co-Founder
    AGAMI Family Office

    Christine Ciriani
    CEO, APAC and EMEA
    InvestCloud

    Alex Ypsilanti
    CEO and Co-Founder
    Quantifeed

    TECHNOLOGY AND BUSINESS PARTNERS

    Frederic Kemp
    CMO
    Azqore

    Christian Sarafidis
    WW FSI GTM Lead
    Microsoft

    Solenne Nidercorn-Desouches
    Non/Executive Director and Senior Advisor in Fintech/VC
    Finscale

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