Global Wealth Could Slip 10 Percent to $100 Trillion This Year Due to Financial Crisis, Says The Boston Consulting Group

NEW YORK, NY--(Marketwire - September 11, 2008) - After hitting a record $109.5 trillion in 2007, global wealth could fall by as much as 10 percent this year, to $100 trillion, as the financial crisis takes its toll on managed assets, according to The Boston Consulting Group (BCG).

Victor Aerni, a Zurich-based partner and coauthor of a new BCG report on global wealth, said that emerging data on the crisis have led BCG to revise its projection of 3.4 percent growth for global assets under management (AuM) in 2008.

"Bank results for the first half of 2008 show a clear meltdown in AuM," said Aerni. "On the basis of the very latest data, we now believe that global wealth will be either stagnant or down this year -- perhaps by as much as 10 percent."

Nevertheless, Aerni said, the firm has no plans to revise its five-year projection of 4.8 percent growth in global AuM. "I remain bullish on the longer-term outlook for global wealth," he said.

BCG's report, titled "A Wealth of Opportunities in Turbulent Times," was released on September 4. It is the firm's eighth annual study of global wealth.

To arrange an interview with one of the authors, please contact Eric Gregoire at +1 617 850 3783 or gregoire.eric@bcg.com.

To download an executive summary and order a full copy of the report, please go to www.bcg.com/impact_expertise/publications/publication_list.jsp?pubID=2726.

About The Boston Consulting Group

The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 66 offices in 38 countries. For more information, please visit www.bcg.com.