View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 28, 2022

Japan’s Mizuho to double wealth management clients

Mizuho Financial is aiming to almost double the count of its wealth management clients by next year, reported Bloomberg News.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The Japanese bank is planning to take advantage of the new millionaires who have modest cash income and need finance beyond their startups, to drive its wealth push.

Mizuho Financial wealth management strategic project team general manager Masayuki Sakai told the news agency that the bank targets to on board some 1,000 families under its wealth unit by this time next year.

The unit, which currently caters to 600 families at present, to propel this drive through loans for startup company owners with equity holdings of significant value, but relatively small cash income.

Sakai was quoted as saying: “There are many who don’t even own their homes. We would like to respond to their funding needs in a timely manner.”

About 90% profit of Mizuho’s wealth unit, which majorly serves families with over $25bn in assets, is said to come from business owners.

As part of its new strategy, Mizuho created a wealth management strategic project team in April 2020 and hired wealth advisers within its core banking unit in last July.

Previously, the bank used to offer its private-banking services through its subsidiaries.

According to Sakai, Mizuho now provides financing for initial public offering (IPO) millionaires backed by the owners’ stock holdings as collateral.

He said: “Stock-backed loans are one of the tools to establish long-term relationships with these new riches.

“Good feedback from one client is likely to prompt others to follow.”

In January this year, Mizuho Americas agreed to buy a middle-market placement agent Capstone Partners to bolster its investment bank offering.

Last November, Mizuho said that CEO Tatsufumi Sakai and three other senior executives will step down from their roles after receiving a business improvement order from Japans’ banking regulator in connection with technical system failures.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International