Private banking CEO roundtable: Are emerging markets still key for growth?
PdW, Deutsche Emerging Asia and the Middle East are still key for us. But we are also growing strongly in mature markets like Germany, where we have a good market position. We are expanding in the US as well, where we are establishing ourselves as an alternative to the domestic players.
TK, Barclays There is no question that emerging markets will have higher growth rates than the developed markets, but the US is still the largest economy in the world and we are optimistic in terms of US growth. Whether in investment strategy or business strategy, one needs to have a balance between developed and emerging economies. As far as growth is concerned in the developed economies, we would put the US and then the UK before Europe.
JF, Citi Yes, they are fundamental as it is where the wealth is being created and that is unlikely to change for the foreseeable future.