Capgemini Announces 2010 U.S. Metro Wealth Index

HNWI Population in the Top Ten U.S. Metropolitan Statistical Areas Increased by 17.5 Percent - Highest Rate of Growth in Last Four Years

NEW YORK--()--Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, today announced the results of the Capgemini 2010 U.S. Metro Wealth Index, which monitors populations of High Net Worth Individuals (HNWIs)1 within the top ten United States metropolitan statistical areas (MSAs). According to the Index, the population of HNWIs in the top ten MSAs increased 17.5 percent in 2009, the highest growth rate in the last four years. Those MSAs with the greatest HNWI population gains in 2009 were also those that had the largest drop in HNWI population in 2008.

New York City continued to top the Index and had more HNWIs than the next top three MSAs - Los Angeles, Chicago and Washington, D.C. - combined. California hosted three of the ten largest MSA populations of HNWIs, including Los Angeles (ranked two), San Francisco (ranked five) and San Jose (ranked ten). In addition, Houston (ranked nine) had the strongest growth rate in its HNWI population.

While many of the MSAs in the Index continued to occupy the same ranking as they did in 2008, Philadelphia moved up to number six in the ranking for 2009, pushing Boston to the number seven position. This change in rankings was due to the fact that Philadelphia was among the least impacted metros in terms of economic factors such as rise in unemployment, decline in real estate prices and per capita income. In addition, Houston moved up to the number nine ranking, pushing San Jose down to number ten.

“In today’s volatile market, the Metro Wealth Index serves as a resource for advisers and wealth management firms who are looking to understand the trends affecting high net worth individuals in specific U.S. markets,” said Edward R. Merchant, Solutions Leader, Capital Markets, for Capgemini Financial Services. “Through Capgemini’s wealth management expertise and sizing capabilities, we allow firms to better understand the opportunities that exist in different regions and help shape their strategy accordingly.”

The Capgemini U.S. Metro Wealth Index leverages Capgemini’s custom market sizing modeling capability and is designed to help wealth management firms understand the scale and potential of different markets in order to identify new growth opportunities or adjust an existing footprint in specific regions. Wealth management firms can benefit from such analysis as it provides details on the dynamics and growth of potential markets and client segments, as well as insights on future trends.

The complete results for the top ten U.S. MSAs are included in the visual below. Capgemini has more than a decade of market sizing experience through client projects and on the industry leading World Wealth Report. For more information on market sizing engagements, please contact wealth@capgemini.com.

Additional information about the Capgemini U.S. Metro Wealth Index can be found here.

2009 Rank by #HNWIs

(2008 in parentheses)

 

US Metro Area Adult

Population (k)

 

2007 HNWI

Population (k)

 

2008 HNWI

Population (k)

 

2009 HNWI

Population (k)

 

2007-08 HNWI

Growth (%)

 

2008-09 HNWI

Growth (%)

1 (1)   New York
(15,438.388)
  650.1   561.8   667.2   -13.6%   18.7%
2 (2)   Los Angeles
(10,227.825)
  253.3   208.2   235.8   -17.8%   13.3%
3 (3)   Chicago
(7,602.357)
  205.4   172.2   198.1   -16.2%   15.1%
4 (4)   Washington D.C.
(4,347.736)
  151.9   127.7   152.4   -15.9%   19.3%
5 (5)   San Francisco
(3,530.694)
  142.6   120.8   138.3   -15.3%   14.5%
6 (7)   Philadelphia
(4,725.571)
  106.3   86.7   104.1   -18.4%   20.1%
7 (6)   Boston
(3,723.372)
  107.9   89.4   102.3   -17.1%   14.4%
8 (8)   Detroit
(3,554.006)
  94.5   79.5   89.1   -15.9%   12.1%
9 (10)   Houston
(4,450.611)
  86.7   68.4   88.2   -21.1%   28.9%
10 (9)   San Jose
(1,457.851)
  80.7   69.5   86.5   -13.9%   24.5%
           

About Capgemini

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working, the Collaborative Business ExperienceTM. The Group relies on its global delivery model called Rightshore®, which aims to get the right balance of the best talent from multiple locations, working as one team to create and deliver the optimum solution for clients. Present in more than 30 countries, Capgemini reported 2009 global revenues of EUR 8.4 billion and employs 95,000 people worldwide.

More information is available at www.capgemini.com.

About Capgemini’s Financial Services Global Business Unit

Capgemini’s Financial Services Global Business Unit brings deep industry experience, innovative service offerings and next generation global delivery to serve the financial services industry. With a network of 15,000 professionals serving over 900 clients worldwide, Capgemini collaborates with leading banks, insurers and capital market companies to create tangible value.

Capgemini’s wealth management practice can help firms from strategy through to implementation. Based on its insights into the size and potential of target markets across the globe, it helps clients implement new client strategies, adapt their practice models, and ensure solutions and costs are appropriate relative to revenue and profitability expectations. Its experts further help firms develop, and implement the operational infrastructures - including operating models, processes, and technologies - required to retain existing clients and acquire new relationships.

More information is available at: www.capgemini.com/financialservices.

Rightshore® is a registered trademark belonging to Capgemini
Collaborative Business Experience™ is a trademark belonging to Capgemini

1 HNWIs are defined as those having investable assets of $1 million or more, excluding primary residence, collectibles, consumables, and consumer durables

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6382835&lang=en

Contacts

Capgemini press:
Lisa Boughner, +1-312-451-8338
lisa.boughner@capgemini.com
or
Pinar Posluk, +1-212-445-8242
pposluk@webershandwick.com

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Capgemini's Edward Merchant explains the U.S. Metro Wealth Index and what it means for wealth management firms.

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Contacts

Capgemini press:
Lisa Boughner, +1-312-451-8338
lisa.boughner@capgemini.com
or
Pinar Posluk, +1-212-445-8242
pposluk@webershandwick.com