Panel III: BRICS economies and the commonalities of change

The BRICS economies, which between them represent 40% of the world population and 32% of its GDP, are a powerful force for the private banking industry as their economic engines drive wealth creation. But they are all distinct markets with their own unique opportunities and challenges.

Private bankers in the BRICS economies are dealing with a twin challenge: educating their clients on the rigours of professional asset management at exactly the same time as the sands are shifting in the domestic investment environments where those clients have made their wealth.

The nuances are different in each BRICS economy, but the sense of change is common to each of them.

“These are very diverse markets from a wealth perspective and that’s something we shouldn’t forget,” says Maya Imberg, senior director for thought leadership and analytics at Wealth-X.

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