The unintended consequences of policy and regulation
Insurance 2015
Justin Excell, Head of Internal Investments Asset Management, was appointed to the Group Management Board, with effect from March 2011. He joined Swiss Re in 2008 as Head of Rates and is responsible for managing government bonds and the overall duration of the portfolio. In January 2013, he took additional responsibility for all internally managed equities. Before joining Swiss Re, in 2005 Mr Excell and four partners founded a sizeable fixed income hedge fund. In 2000, he became Head of the European Government Bond trading desk at Barclays Capital and was later promoted to Deputy Head of the European and UK Rates Trading Business. Between 1997 and 2000, he was Deputy Head of the European Government trading desk at Deutsche Bank. Mr Excell has a twenty-three year career trading and managing bonds interest rate risks at top-tier investment banks in London, Tokyo and Frankfurt.
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In some instances the impact of this shift will be shaped by local factors, such as demographic changes. In other instances this shift will reflect shared characteristics, as demonstrated by the greater popularity of overseas investing among younger high-net-worth individuals (HNWIs) brought up in an era of globalisation. Whatever the drivers, the landscape of wealth is changing—from local to global, and from one focused on returns to one founded on personal values.
Despite rising economic concerns and a tradition of investor home bias in large parts of the world, the new landscape of wealth appears less interested in borders. According to a survey commissioned by RBC Wealth Management and conducted by The Economist Intelligence Unit (EIU), younger HNWIs are substantially more enthusiastic about foreign investing. The U.S. is a particularly high-profile example of a country where a long-standing preference for investments in local markets appears set to be transformed.
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Read additional articles from The EIU with detail on the shifting landscape of global wealth in Asia, Canada, the U.S. and UK on RBC's website.
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To better understand the opportunities and challenges in developing a fintech business in seven ASEAN markets, The Economist Intelligence Unit conducted wide-ranging desk research supplemented by seven in-depth interviews with executives in Australia and ASEAN.
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