The strong return of growth in private wealth in the region to pre-crisis levels combined with a marked slowdown in private wealth creation across the West is attracting a large number of wealth managers to the region.
Capgemini and Merrill Lynch's World Wealth Report for 2010 showed that the number of wealthy individuals in the region rose by 10 per cent to 400,000, the size of their wealth jumping 12.5 per cent, outpacing every region except Africa.
In a recent interview with Gulf News, Tamer Rashad, Merrill Lynch's managing director and head of global wealth and investment management in the Middle East and North Africa, explained the latest trend in the global and regional wealth management industry.
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