WEALTH MANAGEMENT & PRIVATE BANKING
A wealth of change Legislative overhauls, adapting to overcome the pandemic, advancement in digital solutions and shifting production and consumption of investment content are among some of the influences that are changing wealth management in the region. Sherif ElHaddad, Executive Director, Asset Management at Al Mal Capital takes time with MEA Finance to provide an overview of the current wealth and portfolio management environment.
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OVID-19 has proved that digital is no longer an option. How quickly do Wealth Managers in the Middle East and Africa need to adapt to this new digital-first reality?
Wealth managers and investment professionals in Middle East and Africa, much like the rest of the world, have adapted to and begun to overcome the pandemic. From a business continuity standpoint, a big part of that adaptation was helped by the advancement of digital solutions. By nature of the business, which includes investing in different jurisdictions, meeting management teams and interacting with other market participants is of utmost importance. The development of web-based meeting platforms ensured the ability of fund managers to retain an open dialogue with corporates in order to continue to make informed decisions. Investment committee meetings also see a degree of higher reliance on digital elements, such as digital presentations, pitch books, and investment theses, while also dialing in team members from around the world while sharing screens. With this also
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Sherif ElHaddad, Executive Director, Asset Management
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