Leveraging proprietary research conducted during the summer and autumn of 2013, Turkish Wealth Builders: Family Businesses Cultivate Economic Growth explores how leading Turkish business families are shifting attention toward planning for the future and implementing strategies to create cross-generational legacies.
Coupling higher rates of educational achievement with international travel experience, the next generation of Turkish wealth builders appear primed to adopt more sophisticated business and wealth management mechanisms.
"The findings suggest a shift in how wealth is managed in the country, which creates the opportunity for global wealth managers and family office service providers to tap into the market by focusing on the next generation of Turkish wealth builders," concludes Dominic Samuelson, CEO of Campden Wealth.
While the economy is forecasted to grow by 4% over the next two years1, the next generation of Turkish Wealth Builders face a host of macroeconomic challenges – including a current account deficit, high interest rates and a weakened lira – to make their marks in business and investing. Wealth management professionals may get a chance to prove themselves in the coming years.
Louis Meixler worked for almost a decade as a journalist in Turkey for Bloomberg news and the Associated Press, covering economics and politics, including the 2001 financial crisis and the rise of Prime Minister Recep Tayyip Erdogan’s Justice and Development Party. With the AP, he conducted exclusive interviews with Erdogan and President Abdullah Gul. Meixler also reported on the war in Iraq from Baghdad and Irbil and the conflict in Afghanistan from Kabul and Tashkent. Meixler later worked as deputy team leader in the Middle East for Bloomberg news, helping to direct coverage of the Arab Spring uprisings and regional economies.
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its leading universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will expand its premier wealth management franchise and drive further growth across the Group. Headquartered in Zurich and Basel, Switzerland, UBS has offices in more than 50 countries, including all major financial centers, and approximately 61,000 employees. UBS AG is the parent company of the UBS Group (Group). Under Swiss company law, UBS AG is organized as an Aktiengesellschaft, a corporation that has issued shares of common stock to investors. The operational structure of the Group comprises the Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, the Investment Bank, Global Asset Management and Retail & Corporate.
Follow the link below for Campden Conferences, independently facilitated peer-to-peer exchanges for the global community of families and family offices,fostering in-depth learning and collaboration around the challenges of wealth management.
Related magazine articles
Follow the links below for Campden FB and Campden FO magazines’ exclusive commentary, covering issues of strategic importance in private wealth management.
For further information:
Call +44 (0)20 7214 0552 or email email@example.com