Millionaire wealth in Asia may top North America soon (CNBC)
Wealth among the richest in the Asia-Pacific region could surpass their counterparts in North America as soon as next year, a joint report by Capgemini and RBC Wealth Management announced today. The total wealth of the Asia-Pacific region’s high net-worth individuals — defined as those with investable assets of $1 million and above — is expected to rise to $15.9 trillion by 2015, compared with $12 trillion in 2012. Wealth of the equivalent group of individuals in North America stood at $12.7 trillion last year. “The Asia-Pacific market is clearly one to watch. Its leadership in global high net-worth wealth growth positions it to become the largest wealth market by population as early as 2014,” said M. George Lewis, Group Head of RBC Wealth Management & RBC Insurance.