Jan
27
The $200 Trillion Gold Rush That Has Reshaped Private Banking
ByFrom Hong Kong to Miami, private bankers are finding new ways to serve the growing ranks of the world’s wealthy.
Illustration: Peter Oumanski for Bloomberg Businessweek
Ten years ago, stock markets plunged, major banks faltered, and the global economy teetered on a precipice. Few would have predicted that the ensuing decade would produce an explosion in wealth.
But that’s just what happened. An unprecedented infusion of central bank funds into the world’s largest economies bolstered asset prices, making many people richer and exacerbating inequality. Global personal wealth reached a record $201.9 trillion last year, according to Boston Consulting Group Inc…
The $200 Trillion Gold Rush That Has Reshaped Private Banking
