Thursday, 22 June, 2023
12 pm GST

Prospering in the Digital Era: Reshaping Wealth Management in MEA

What are the key trends most likely to impact wealth managers in MEA and how can wealth managers leverage technology to capitalize on the changing market dynamics?

In partnership with

Why attend

Each year, Temenos produces a paper based on research from our global customer base, which aims to capture the key global trends we see in the wealth management space. For 2023, this included topics such as Digital assets, Data Analytics, Hyper-personalization, SaaS and Cloud Hosted platforms, ESG strategies and of course, the ongoing Generational Wealth Transfer.

Given the diversity of the MEA region and the differing levels of market maturity across the region, not all of these trends may be as prevalent, and some may not be considered at all. Some trends we can be confident of are:

🔴 The Middle East, and specifically the UAE has seen significant growth in the number of migrating HNWI over the past 20 years, a trend further accelerated due to the pandemic and other, recent and ongoing geo-political events
🔴 The population continues to grow, the region boasts the youngest median age, a growing middle class, a favorable tax environment and higher than average saving rates
🔴 The emerging mass affluent segment, now easier to serve due to advances in technology will serve as a battle ground for wealth managers in the coming years
🔴 As witnessed in other large financial centers, Singapore, Hong Kong and London, the competition will come from FinTech’s, a growing raft of ‘Neo’ or ‘Challenger’ banks and more established banks with a dominant market share, launching new competitive offerings

For many regions, the next 3-5 years will be incredibly important in shaping the future of the wealth management sector. Developed and mature markets will face intense competition for wallet share in an increasingly crowded marketplace. In emerging markets, first movers, unencumbered by legacy technology can leapfrog more established providers in launching cloud hosted, low-touch digital services to capture emerging affluent wealth customers.

As always, where there is opportunity, there will be challenges and the pathway for many will not be smooth. The aim of this webinar is to discuss both these opportunities and some of the likely challenges that could present themselves as wealth mangers seek to capitalize on the emerging trends outlined above.

The key take-aways

What are the primary challenges facing more established banks when seeking to compete with new market entrants such as FinTech’s and Challenger banks?

What actions will banks and wealth managers need to take when devising and executing a coherent transformation plan?

How strongly do MEA banks feel about the emerging trends and, if applicable, how are they best able to capitalize on these trends?

Is the appetite for ESG focused strategies as prevalent as suggested and what challenges do wealth managers in MEA face when seeking to implement a robust ESG framework?

The webinar panel

Click to view full speaker details

Jaysen Nundoosingh, Head of Wealth | ABSA GROUP

Seasoned Senior Banker with a history of working in the financial services industry in Africa & Europe. Skilled in Private Banking & Wealth , Corporate Banking, Global Markets, Strategy and Leadership. Strong business development & business turnaround professional with demonstrable experience in building meaningful businesses from baseline. I am passionate about people and a curious individual - a learn it all Leader. Executive MBA from City, University of London and trained at The University of Chicago Booth School of Business where I completed an Advanced Management Program.

Ashoo Palayathan, Head of Investments and Portfolio Management | ABSA

Olusegun Omoniwa, Group Director Investments | EQUITY BANK LIMITED

I am a business leader with over 12 years of experience in financial services across 2 continents (Africa and Asia), 6 countries (Botswana, Kenya, Nigeria, Singapore, Zambia and Zimbabwe). I am currently leading a wealth management business in Southern Africa with a team of 29 professionals and specialists in Botswana, Zambia and Zimbabwe; covering investment products, treasury products and Insurance. I have a leadership track record in delivering specialist solutions across Africa, evidenced from investment AUM growth for affluent clients by USD250mn within 3years, in prior role as head of managed investments solutions. In my current role we have grown our client AUM by an average of 30% p.a. since 2018. According to Gallup Inc. Strengths Finder, my signature strength themes are Learner, Developer and Analytical. I have leveraged on these strengths with evidence from success in previous roles in retail banking products where I anchored business and product development responsibilities for new initiatives in lending to new customer segments; In a marketing communications and management role where strong stakeholder, time and project management skills were developed and now in a role where I am responsible for product strategy, training and sales engagement for wealth management products across Southern Africa.

Haitham Juma, Unit Head - Investment Solutions | NATIONAL BANK OF FUJAIRAH

Leading the Investment Solutions team in National Bank of Fujairah where I’ve established and grown the Client investments unit through setting a long-term strategic plan and working towards achieving key milestones.

I oversee the client investment advisory engagements, investment product development, and management of client investment portfolios across multi-asset mandates for Government-related entities, corporates, HNWI and retail clients whilst working with senior executives and top-tier global asset managers.

Over the years, we have significantly grown the business, increased AUMs, and expanded the client base through creating lead generation strategies and developments to our infrastructure to improve client experience

I regularly conduct financial webinars for NBF and have also been a guest speaker at leading wealth and investment summits, I also have several TV appearances and publications across financial media.

Eric Mellor, Wealth Management Specialist - APAC, Middle East & Africa | TEMENOS

Eric Mellor is a wealth management specialist at Temenos, responsible for bridging the gap between customers and vendors, working with banks to define their wealth management goals and ambitions and translating these to practical, effective technology-driven solutions.

Eric has 20 years of experience in wealth management and has held various international wealth and asset management positions in the UK, The Channel Islands, Hong Kong and Singapore. Prior to Temenos, he held leadership roles at Avaloq and HSBC and has worked in both client-facing advisory roles and investment and asset management positions.

Eric holds multiple advisory qualifications in the UK, Singapore and Hong Kong, the CFA Investment Management Certificate and a First Class Bachelor of Arts (Hons) in Financial Services from the University of Portsmouth.

Eric is currently based in the UAE but travels extensively too support our customers across booth the MEA and APAC region.

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