At their economic and investment outlook meeting last night, led by senior macro economist, Nick Kounis, and CIO of ABN AMRO Private Banking, Didier Duret, ABN AMRO predicts improving fortunes in the financial sector, writes Patrick Brusnahan.
Whilst tight lipped about figures, speakers at the meeting were positive that an upturn in prospects was on the way and that the ‘economic recovery has arrived.’ They also believe that ‘uncertainty and financial stress is receding’ and that this will ultimately benefit global growth.
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In terms of the private sector, the banks said it was in ‘very good shape’ to take advantage of increasing economic growth. This will also lead to the high net worth population feeling more secure investing.
However the bank said most of the growth is located in North America and warned that growth in Europe will be slower than in the rest of the world.
In regards to their potential acquisition of Societe Generale’s Asian private banking arm, they refused to confirm nor deny any progress.
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