Hiring Continues In The Middle East Wealth Management Bonanza

Despite chilly global credit markets, the Middle Eastern wealth management arena is a recruitment hotspot. Firms are busily hiring senior executives to spearhead new wealth management teams. For example, Merrill Lynch recently appointed Mazin Al-Shakarchi as a financial advisor covering Qatar from the Bahrain office. HSBC Bank Middle East has appointed Walid Boustany to the role of executive director, strategic investments, Middle East & North Africa. He will be responsible for HSBC’s strategic planning across the region. Goldman Sachs, the US investment bank, has appointed Fadi Abuali as co-head of its Middle East private wealth management business, alongside current head Farid Pasha.

And there is more: the Central Bank of Bahrain has approved Douglas Hansen-Luke as Robeco’s new chief executive for the Middle East. Mr Hansen-Luke formerly worked in senior positions for ABN Amro Asset Management in Asia, Europe and Saudi Arabia. Bahrain-based Ithmaar Bank has appointed Shaikh Salman bin Ahmad Al Khalifa as managing director, group business development.

The rash of appointments seen in recent years will continue, barring an unlikely collapse in demand for wealth management, Professor Amin Rajan, chief executive of Create-Research, a UK consultancy on the investment management industry, told WealthBriefing.

Wealth managers are going into the Middle East in a big way, said Professor Rajan. This is a high-margin business to be in as banks get fees right along the value chain, he said. But although the region is lucrative, making money is not easy. Local investors typically punish poor investment performance quickly – often far faster than is the case with European or US clients, said Professor Rajan.

The real issue is to understand the client mindset. Client money [in the Middle East] isn’t sticky at all. When performance is bad they ask for a rebate, which is how it should be. If [wealth managers] can survive in the Middle East, they can survive anywhere, he added.

Barclays Wealth, for example, has every intention of doing more than just survive in the region. As an illustration of its ambitions, Barclays is moving into a new 14,000 square feet office in the Dubai International Financial Centre, which will be a hub for the firm’s operations in the region. Operating currently in Dubai and Abu Dhabi, Barclays Wealth is also planning to make its Doha Qatar office operational this year.

Barclays Wealth leadership believes that the Middle East is a core area of growth. A substantial investment in human resources and capabilities and a rigorous expansion plan will lead to a substantial increase in the scope of operations, Soha Nashaat, managing director, head of Middle East, North Africa & Turkey for Barclays Wealth, told WealthBriefing.
Like Professor Rajan, Ms Nashaat says wealth management firms entering the Middle East from outside the region must understand the local culture if they are to make a success of their business. For example, more than 70 per cent of businesses are family-owned, which requires managers to forge long-term connections.

Wealth managers must understand and cater to the regional trends such as the dominance of family offices, Ms Nashaat said. Investors tend to be intolerant of risk and hold a high proportion of assets in cash and in offshore locations, she added.

Middle Eastern clients put great stress on strong relationships with investment advisors and dislike high turnover in staff, a factor that wealth managers must consider in their staff recruitment and retention plans, Stuart Crocker, chief executive, Emirates Platform and Southern Gulf States, HSBC Private Bank told WealthBriefing.

People don’t like seeing relationship managers moving on every two or three years to other banks, he said. His own bank, part of the HSBC banking group, serves clients both from local Middle Eastern locations as well as from its teams of specialists in Geneva.

The general background for wealth managers is certainly favourable. The investable assets of HNW individuals will rise by 50 per cent between 2006 and 2010, according to Barclays Wealth data.

The number of HNW individuals rose by 11.9 per cent in 2006 from a year before, according to the latest Merrill Lynch/Capgemini World Wealth Report issued last June. Wealth management intermediaries have only started to manage a significant share of assets in the region. Research from Zurich International Life, for example, reveals that expats living in the Middle East prefer to rely on their own judgment or friends and family when purchasing financial products. The survey showed that fewer than one in ten expats would enlist a financial advisor, either in their country of domicile or residence, to help them make the financial decisions. Financial advisors have a vast untapped market to go for.

While researchers like PricewaterhouseCoopers have warned that wealth management firms face a skills bottleneck, hiring staff for Middle Eastern slots is being helped by a benign tax regime and attractive pay packages.

Private bankers in tax-free Dubai earn 25 per cent more than their peers in Geneva and almost 40 per cent more than colleagues in London, according to a recent survey by Dubai-based headhunter Dunn Consultancy FZ-LLC.

Excluding bonuses, private bankers in Dubai with at least 10 years experience receive an average salary of $276,500 with allowances, compared with pre-tax earnings of $221,900 in Geneva and $199,100 in London, it found.

The economics of wealth management in the Middle East certainly look compelling. For the time being at least, the toughest challenge for players in the region is keeping up with the pace.

How Do You Define Event Management

An event management corporation will organise and facilitate events, projects and programmes, whilst being strategic and imaginative in their thinking.
They must have a dedicated team that can produce, with you, all elements of your exclusive/bespoke event, programme or project.

Is it more high-priced to use an activity management company?
No, it is really more cost-effective to use an event management corporation. Event Management businesses will have cheaper rates and good relationships with suppliers and the expertise of organising and managing events can save you loads of money.

Why can event management businesses provide services cheaper than what I can get those services for?
Event management businesses use suppliers, entertainment, venues, caterers services often and therefore obtain agency or discounted rates which they pass on to their clients. Activity management businesses buy services in large volumes, which results in a cheaper price.

Can an event Management corporation save me time?
Yes, they will know exactly where to look for the services you need.

If you select an events Management corporation that do not own their own kit, you will benefit vastly because they will look around for the finest equipment to suit your requirements and budget.

What percentage must I spend on dcor and entertainment?
In an perfect situation, your budgets must cater for equal amounts for food and beverage as for decor and fun. The more elaborate however your spending on decor and fun, the greater the effectiveness and impact your function will have (but please do not under-cater).

Unfortunately, this perfect solution is seldom achievable, as most venues charge steep prices for catering.Therefore it would also be workable if you allocate a minimum of thirty per cent (30%) for decor and fun.

How event Management can gel your team

It is essential to select an event management corporation that has experience of working with top blue chip businesses that engage and inspire. Our expertise is in helping clients communicate their organisation aims through live events to create positive influences on employees, clients and customers.

We listen, understand, produce, engage and evaluate.

A collaborative approach is taken to understanding and delivering your message. A dedicated account manager engages with your corporation in order to probe and understand your aims and objectives.

We deliver quantifiable results by measuring your project, programme or event against agreed pre-determined key performance indicators enabling us to establish the return on investment.

Our ability to use a multi-disciplinary approach to communicate your aims effectively means that we can make sure that all solutions align with your vision, culture, brand and audience at every part of the process.

Sony Ericsson mobile phones innovating innovation

In 2001, Japanese consumer giant Sony and one of major Swedish telecommunication player Ericsson decided to restart mobile manufacturing together under the brand name Sony Ericsson. The end result of combined expertise of Ericsson’s technological knowledge and Sony’s finesse in consumer electronics is now for everyone to see. Presently, Sony Ericsson is one of the fastest growing mobile vendors and world’s second most profitable mobile manufacturers.

This exceptional growth mainly attribute to the rise in the demand of high end mobile phones. Ericsson being in the thick of matters during cellular phone evolution with many innovations to its credit provided the sound technologies while Sony with its acumen in music players, camera and LCD display played its part. This union has resulted in many innovations that changed the whole dynamics of the mobile phone market.

Probably the most successful Sony Ericsson mobile phone line up is the Walkman series. In an age when mobile users were still dabbling with polyphonic or even Mp3 ringtones, Sony Ericsson came up with Walkman phones – a line up of fully evolved music mobile phone. Walkman created a rage especially among the young mobile phone users that refuse to subside even today. Taking advantage of the reputation of the Walkman brand, Sony Ericsson now are virtually ruling the music mobile scene.

In similar lines of incorporating established brand names, the camera centric K series mobile phones have included Cyber Shot phones – strong multimedia mobile phones with imaging capabilities comparable to digital cameras. Apart from multimedia phones, Sony Ericsson has made quite a name for itself in the smartphone category. Two line ups – M series and P series are dedicated for Symbian smartphones from Sony Ericsson. From basic entry level models to Blackberry enabled handsets for business and corporate – Sony Ericsson mobile phones provides one of the best price-feature ratio in the mobile phone market.

Raina Kelsey is an expert author, and writes about latest gadgets. For more information about sony ericsson mobile phones and other cheap phones please visit www.mobilespectrum.co.uk.

The Basics Of Franchising A Business

A study of the most successful businesses in town will show that these are franchised businesses. It means the business has been market tested, developed and handed to the owners or franchise holders in a silver platter.

Franchising is a business concept and strategy that has been practiced by basically all the successful businessmen in the world. What separates these businessmen from the ordinary mortals is the way they can recognize a product that will be a hit with the masses.

A business venture is established by its owner with the view of making profit the soonest possible time. No matter what businessmen say about their businesses being pro poor or pro humanity, business is really all abut money and it is its top priority. No one would invest in a business without expecting to earn profits as a result.

The easiest way to ensure profits is to focus on your customers, their wants, their needs, how to satisfy them, how to keep them coming back and how to make them yearn for your product so that your business will grow big.

Getting customers to buy your products is the job of sales and marketing. A good marketing strategy can create a need even when there is none. It means that with a good promotional concept, clients would flock to your products and buy them even if they already have plenty of these products or they do not need these products.

However, once you get the customers to buy your products, your products must be of good quality so they will become satisfied and will not regret buying your product. This way, they will make repeat purchases and you will have repeat customers. The challenge for the businessman now is how to keep their customers.

These concepts of how to get customers to buy your products, how to keep them satisfied and how to keep them coming back for more are the main concepts that are embodied in a good franchising strategy.

The Franchising strategy has been applied to all kinds of businesses from food, retail, internet, beauty salons to distribution services. A person who wants to get a franchise would have no trouble choosing from the variety of businesses that have already been franchised. Just make sure that the important concepts of a business are taken into consideration by the franchise system you have chosen.

Before choosing a franchise system, make sure you are familiar with the product or services being franchised or you have seen how it is being implemented. Observe how the franchises are doing and if possible, do some research on their viability. This way, you will not be shortchanged and you will get what you paid for.

Thailand Agriculture Industry outlook

Thailand Agriculture Industry 1H10

Thailand: Agriculture covers Thailand overview, top agricultural production, rice, sugarcane, cassava, fisheries sector and livestock sector. It also covers the market trends and outlook, Thailand’s agriculture export, world’s largest exporter of rice, export of fisheries products and livestock products, agricultural and food policy, agricultural credit and ASEAN Free Trade Agreement plus the comparative matrix of the industry leading players: Charoen Pokphand Foods PCL, Asia Golden Rice Company Limited, Thai Union Frozen Product PCL and Khon Kaen Sugar Industry. ( http://www.bharatbook.com/detail.asp?id=146987&rt=Thailand-Agriculture-Industry-1H10.html )

Executive Summary :

TH Agriculture provides an overview of the agriculture industry in Thailand, top agricultural production including rice, sugarcane and cassava, and fisheries and livestock sector in Thailand. In 2009, the agriculture industry contributed approximately 11.6% to Thailand’s economy. The contribution of the agriculture industry has been on an uptrend since 2000.

The report includes the market trends and outlook of the telecommunication industry in Malaysia. We examine Thailand’s top agriculture products exports as well as export of fisheries and livestock products. Thailand is one of the world’s leading agriculture products exporting countries. In 2009, Thailand exported THB 427.75 billion worth of agriculture products.

The report also includes the major players in the agriculture industry as well as their financial highlights. Among the top companies included in our report are Charoen Pokphand Foods, Asia Golden Rice and Thai Union Frozen Products. Charoen Pokphand Foods is a leading agro-industrial food conglomerate in Thailand. Asia Golden Rice was Thailand largest exporter of rice in 2009 and Thai Union Frozen Products is the world’s largest tuna packer and Thailand’s largest seafood processor.

For more information kindly visit : http://www.bharatbook.com/detail.asp?id=146987&rt=Thailand-Agriculture-Industry-1H10.html

Related Reports

International Agriculture Outlook – 10 year forecast and economic analysis http://www.bharatbook.com/detail.asp?id=145466&rt=International-Agriculture-Outlook-10-year-forecast-and-economic-analysis.html

India Agriculture Industry 1H10 http://www.bharatbook.com/detail.asp?id=144335&rt=India-Agriculture-Industry-1H10.html

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