ENBD wealth management to offer tactical asset allocation (Interview)

The global wealth of high-net-worth individuals will grow to $59.1 trillion (Dh217trn) by 2012, advancing at 7.7 per cent per year, according to Merrill Lynch and Capgemini's 12th World Wealth Report.

The forecast takes into account the financial downturn in the US.

Robert-Jan Voogt, Private Banking (Global) General Manager at Emirates NBD, said the UAE has about 20,000 millionaires (a millionaire being described as anyone with $1 million (Dh3.7m) of investable assets).