There are 150 ultra high net worth individuals (UHNWI) in Kuwait after the crisis, with an average wealth of $370 million, says a new book by a Swiss banker.

In comparison, estimates show that there are around twenty thousand (20,000) UHNWI in existence today, with more than 25 percent or 5,150 of them residing in the United States. Between them, they possess wealth that exceeds $5,000 billion, which is equivalent to 10 per cent of the world's estimated total wealth, according to Heinrich Weber, author of ‘The Ultra High Net Worth Banker's Handbook’.

The UHNWI wealth management business is therefore a critically important as well as complex field within the realm of modern finance.

“Kuwaiti UHNWI are mostly highly successful investors and business people and thinkers in general, from whom we can learn a lot. They invest money slightly more aggressively than Europeans and US investors,” said Heinrich Weber, in this book, his third, which was written in collaboration with his fellow Stephan Meier.

“They are globally better diversified than US investors and invest significantly in real estate and private equity holdings, or acquire controlling stakes in listed local companies.”

Weber goes on to say that UHNWIs often suffer from the burden of high expectation (by the society, parents, brothers and sisters) and isolation, due to their suspicions regarding consultants and friends’ true interests. Such suffering can be alleviated by participating in workshops or meetings with peers from different geographies.

With UHNWI clients seeking not only to protect their assets but also to exploit new investments, private bankers need to improve both their technical and human skills and expand their international network.

This book aims to optimise relationships between wealth managers and Ultra High Net Worth individuals, classified as individuals with more than 50 million in liquid assets.

EVP of one of Switzerland's leading private banks, Heinrich Weber reveals the secrets of wealth management using his experience and expertise in the banking industry. Weber is a certified alternative investment analyst and professional risk manager.

Stephan Meier is head of a private banking UHNWI practice for one of the global leaders in this area. He has been a specialist in UHNW clients since April 2008.-TradeArabia News Service