With the global recession having knocked billions off affluent investors' portfolios, wealth managers are looking to rebuild their businesses, and the former Soviet Bloc countries provide fertile hunting ground for wealth managers, both local and foreign, to find new clients. As a result of the 'enforced marriage' of the Soviet Union for 70 years, the state structures and many of the underlying determinants of wealth are similar across Russia, Kazakhstan, and Ukraine. Despite all being part of the CIS, there are important differences between their economies today, their prospects for future growth, and the composition and needs of their affluent citizens.

1. Targeting Key Ex-Soviet Bloc Clients in
Wealth Management
Wealth management for Russian, Kazakh, and Ukrainian
clients
Use this report to understand how best to
target each nationality with the right products
and services
Report summary
• Use our Global Wealth Model data
to find out how many potential
clients are in your target customer
base and build your business
plans for 2011-14
• Use our analysis of client
characteristics to understand how
best to target each nationality with
the right products and services
• Understand your competition,
including the strategies they are
using to build business, using our
competitive profiles
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RESEARCHSTORE

2. Targeting Key Ex-Soviet Bloc Clients in Wealth Management RESEARCHSTORE
With the global recession having knocked billions off affluent investors' portfolios, wealth managers are looking to rebuild their businesses, and the
former Soviet Bloc countries provide fertile hunting ground for wealth managers, both local and foreign, to find new clients.
As a result of the 'enforced marriage' of the Soviet Union for 70 years, the state structures and many of the underlying determinants of wealth are similar
across Russia, Kazakhstan, and Ukraine. Despite all being part of the CIS, there are important differences between their economies today, their
prospects for future growth, and the composition and needs of their affluent citizens.
Key findings and highlights
• When it comes to service and contact expectations, Russians are the most demanding, according to their banks. Russia's affluent population, like
those in Kazakhstan and Ukraine, is financially unsophisticated and conservative. The reasons for this have to do with these countries' histories and
the source of most of the wealth there today.
• All three nationalities hold the vast majority of their onshore liquid wealth in deposits, and only in Russia do investors put any money in equities,
• The wealthy Russian, Kazakh, and Ukrainian client bases have historically been the preserve of the international banks, as local offerings were, until
recently, thin on the ground. Global banks such as Coutts, Société Générale Private Banking, and Citigroup tend to target these customers from
outside their home market.
Key questions answered
• How many onshore clients are there in Russia, Kazakhsta, and the Ukraine whose liquid assets exceed my threshold?
• What are the investment and cultural characteristics of these clients and how do they translate into demand for products and services?
“All three nationalities hold the vast majority of their onshore liquid wealth
in deposits, and only in Russia do investors put any money in equities,
mutual funds, or bonds.”
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• What innovative strategies are my competition for these customers (both local and international) pursuing?
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About this report
Introduction
mutual funds, or bonds; these products barely exist for Kazakh or Ukrainian investors onshore.
Datamonitor Report
Published: Oct 10 | Code: CM00007-002
Targeting Key Ex-Soviet Bloc Clients in Wealth Management 2010

3. Targeting Key Ex-Soviet Bloc Clients in Wealth Management RESEARCHSTORE
“The wealthy Russian, Kazakh, and Ukrainian client bases have historically
been the preserve of the international banks, as local offerings were, until
recently, thin on the ground.”
Buy this report online now at
www.datamonitor.com/store
Sample pages
Datamonitor Report
Published: Oct 10 | Code: CM00007-002
Targeting Key Ex-Soviet Bloc Clients in Wealth Management 2010

4. Targeting Key Ex-Soviet Bloc Clients in Wealth Management RESEARCHSTORE
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Table of contents
OVERVIEW
• Catalyst
• Summary
• Methodology
EXECUTIVE SUMMARY
• The wealthy in Kazakhstan, Russia, and Ukraine are first
generation entrepreneurs, reflecting the economic changes
their countries have undergone in the past 20 years
• The opportunity is significant, with nearly 1.4 million affluent
individuals onshore, and offshore holdings of at least $55
billion
• Despite taking big risks in building their fortunes, clients
prefer investments they consider to be 'safe'
• Wealth management is a new concept in the region
• International banks dominate wealth management for
Russians, Kazakhs, and Ukrainians
MARKET OPPORTUNITY
• The onshore customer base in Russia, Kazakhstan, and
Ukraine
• The offshore customer base
INVESTOR CHARACTERISTICS
• Behavioral characteristics
• Product and service needs
COMPETITOR DEVELOPMENTS
• There is increased focus on this lucrative customer segment
• Russia's onshore wealth management market is the most
developed in the region
• Kazakhstan has virtually no onshore wealth management
• Ukraine's embryonic onshore wealth management market is
being developed
• International banks have well developed services for wealthy
Russian, Kazakh, and Ukrainian clients
Datamonitor Report
Published: Oct 10 | Code: CM00007-002
APPENDIX
• Definitions
• Methodology
• Further reading
• Ask the analyst
• Datamonitor consulting
• Disclaimer
LIST OF FIGURES
Figure 1: Russia's affluent population will see growth again in 2010f
Figure 2: Kazakhstan's affluent population will not recover until 2011
Figure 3: The affluent population in Ukraine will resume growth again
in 2010f
Figure 4: Switzerland dwarfs the Channel Islands/Isle of Man as the
most popular destination for CEE deposits and funds in
2009
Figure 5: At least 150,000 Russians and Ukrainians have leave to
enter the UK each year
LIST OF TABLES
Table 1: Russia: aggregate onshore liquid assets segmented by
asset band (€bn), 2005–09
Table 2: Russia: number of individuals segmented by asset band
(000s), 2005–09
Table 3: Russia: aggregate onshore liquid assets segmented by
asset band (€bn), 2010f–14f
Table 4: Russia: number of individuals segmented by asset band
(000s), 2010f–14f
Table 5: Kazakhstan: aggregate onshore liquid assets segmented by
asset band (€bn), 2005–09
Table 6: Kazakhstan: number of individuals segmented by asset
band (000s), 2005–09
Table 7: Kazakhstan: aggregate onshore liquid assets segmented by
asset band (€bn), 2010f–14f
Table 8: Kazakhstan: number of individuals segmented by asset
band (000s), 2010f–14f
Table 9: Ukraine: aggregate onshore liquid assets segmented by
asset band (€bn), 2005–09
Table 10: Ukraine: number of individuals segmented by asset band
(000s), 2005–09
Table 11: Ukraine: aggregate onshore liquid assets segmented by
asset band (€bn), 2010f–14f
Table 12: Ukraine: number of individuals segmented by asset band
(000s), 2010f–14f

5. Targeting Key Ex-Soviet Bloc Clients in Wealth Management RESEARCHSTORE
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