Wealth Management Market in Brazil

Publication Date	March 2008
Publisher	Highworth Research
Product Type	Report
Pages	68
ISBN Number	not applicable
Product Code	HIR00001

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Summary

The rising tide of affluence in Brazil makes the country of increasing interest to private banks eager to benefit from the provision of wealth management services to Brazil's 190,000 millionaires. What are the key economic and business factors which have allowed Brazil to rise to 10th in the world in terms of numbers of millionaire households? Is this position sustainable in the face of a weakening global economy? What are the prospects for the future development of Brazil as a wealth management market over the next few years?

This major new Report from Highworth Research examines these questions and provides answers to assist the strategic and marketing planning of private banks interested in making, or strengthening, a commitment to the Brazilian wealth management market.

Benefits of this Report:

Provides a detailed assessment of the onshore wealth management market in Brazil and provides a foundation for assessing the future development of this market
Includes a stringent analysis of the favourable macroeconomic conditions stimulating the expansion of the numbers of affluent individuals in Brazil
Analyses the strong growth drivers in the business environment and their effect on wealth formation
Supplies the most comprehensive presentation of the competitive landscape, with profiles of all the significant national and foreign wealth managers operating in the Brazilian market, including management, strategies, services offered, financials etc
Most recent assessment of the market: economic and business statistics forming the basis of the analysis and forecasts are up to date as at end 2007
Allows wealth managers to make an extensive strategic and competitive assessment of one of the world's most promising wealth management markets

This report includes the most comprehensive survey to date of wealth management companies operating in the Brazilian market, including detailed profiles of the following 33 institutions:

Amicorp do Brasil, Banco Alfa de Investimento, Banco Banif Primus, Banco BNP Paribas Brasil, Banco Bradesco, Banco Citibank, Banco de Investimentos Credit Suisse, Banco do Brasil, Banco do Estado do Rio Grande do Sol, Banco Fator, Banco Itau Europa International, Banco Itau, Banco J Safra, Banco J P Morgan, Banco Safra, Banco Santander Banespa, Banco UBS Pactual, BBM Gestao de Recursos, Ciano Investimentos Gestao de Recursos, Credit Agricole Brasil, Deutsche Bank - Banco Alemao, Fabiano Calil - Gestao Financeira Pessaol, Gavea Gestao de Investimentos, GWI Consultoria Participacoes e Servicos, Hedging- Griffo Corretora de Valores, HSBC Bank Brasil - Banco Multiplo, Itau Private Bank, Maua Investimentos, Merrill Lynch Representacoes, Opus Gestao de Recursos, Rio Bravo Investimentos, Safdie Dristribuidora de Titulos e Valores, Votorantim Asset Management.

Content

Executive Summary

2. Macroeconomic Conditions & Forecasts
2.1GDP growth per region & per head
- 2.2 Employment & income growth : unemployment rate; job creation; real average income trend
- 2.3 Credit growth
- 2.4 Retail sales and expenditure trends
- 2.5 Consumer Confidence Index (ICC)
- 2.6 Consumer savings
- 2.7 Public sector debt
- 2.8 Interest rates
- 2.9 Consumer price inflation
- 2.10 International trade : trade balance; export growth in commodities and manufactured goods
- 2.11 Foreign exchange reserves
- 2.12 Sovereign rating and Emerging Market Bond Index plus (EMBI+)
- 2.13 Foreign portfolio investments
- 2.14 Foreign direct Investment
- 2.15 Manufacturing output
- 2.16 Agricultural commodities: grain production; livestock
- 2.17 Non agricultural commodities: minerals and hydrocarbons
- 2.18 Macro reforms: tax reform; pension reform; labour laws reform
- 2.19 Brazilian strategic plan: industrial policy; biofuels
- 2.20 The sub prime and credit market crisis: is Brazil affected?
3. Business Environment & Growth Trends
- 3.1 Political stability
- 3.2 Privatisations
- 3.3 Infrastructure projects
- 3.4 Investment rate as % of GDP
- 3.5 The strength of prospects in the capital market
- 3.6 Corporate profits
- 3.7 Real estate, property finance, and price trends - commercial and residential
4. The Wealth Management Market
- 4.1 Wealth management market growth
  - analysis of numbers of affluent individuals by region, and by source of wealth
  - trends in asset allocation
  - tax regime affecting affluent individuals
  - rising strength of onshore wealth management market
- 4.2 Key reasons for rise in affluent individuals
  - strength of commodity prices
  - strength of capital markets
  - IPOs and stock market growth
  - Mergers & acquisitions activity
  - Currency appreciation
  - GDP strength
- 4.3 Wealth by region
5. Wealth Management Companies in the Brazilian Market
- 5.1 Main wealth management institutions: national institutions; foreign institutions
- 5.2 Types of wealth management institutions and services offered
- 5.3 Branch networks
- 5.4 Regulatory developments and staff training issues
6. Figures & Fig 1 Revised GDP growth 20002006
- Fig 2 GDP growth accumulated in 4 quarters
- Fig 3 Quarterly GDP growth
- Fig 4 GDP growth by sector
- Fig 5 Unemployment rate 20052007
- Fig 6 Real average income of working population,12 months
- Fig 7 Credit volume
- Fig 8 Retail sales volume index
- Fig 9 Consumer Confidence Index (ICC)
- Fig 11 Public sector debt as % of GDP
- Fig 12 Selic interest rate
- Fig 13 IPCA price inflation 20022009
- Fig 14 Trade balance 1997 - 2006
- Fig 15 Exports by product category, JanuaryOctober 2007
- Fig 16 Foreign exchange reserves
- Fig 17 EMBI+, Brazil
- Fig 18 Foreign portfolio investments - main categories
- Fig 19 Foreign direct investment 19992008
- Fig 20 Manufacturing output
- Fig 21 Brazilian real appreciation against US dollar
- Fig 22 Grain production 19802008
- Fig 23 Oil and gas prospects
- Fig 24 Government tax revenues as % of 2004 GDP
- Fig 25 Ethanol production costs
- Fig 26 Ten biggest ethanol producers
- Fig 27 Major markets for Brazilian exports
- Fig 28 Origin of funding and destination of investment in infrastructure
- Fig 29 Investment rate, % of GDP
- Fig 30 Sao Paulo stock exchange performance 2007
- Fig 31 Market capitalisation Bovespa 19902007
- Fig 32 Combined profit of 500 largest Brazilian corporations, 19972006
- Fig 33 Combined turnover of 500 largest Brazilian corporations 19972006
- Fig 34Commodity prices, 2000006
- Fig 35Local capital flow to equities vs. Selic
- Fig 36 Initial public offerings (IPOs) 19952007
- Fig 37 Share of GDP per region, 20022005

Tables

Table 1 Contribution of sectors to export revenue growth 1stH 2007 vs. 1st H 2006
Table 2 Exports and announced investments in selected commodities sectors
Table 3 Sovereign rating
Table 4 Investment forecast, industry: 2007-2010
Table 5 Livestock output 2006-2007
Table 6 Expenditure on pensions, % of GDP
Table 7 Market's recovery after sub prime, Americas
Table 8 Privatisations, 1990-2005
Table 9 Average price, new homes in greater San Paolo, 1997-2006
Table 10 Average price, new commercial properties in greater San Paolo, 1997-2006
Table 11 Wealth management market growth 2003-2006
Table 12 Major institutions in Brazilian wealth management market
Table 13 Institutions by sector offering services to HNWI's in Brazil
Table 14 Leading wealth management institutions in Brazil compared by multiple criteria
Table 15 Adherents of ANIBD's Self Regulation Code for Private Banking