UBS Reports Millennials Could Hold US$24 Trillion of Wealth by 2020
According to a report by UBS, millennials could hold as much as US$24 trillion in wealth in 3 years time. The wealth of this group which ranges from 21 to 35 is driven by inheritance, entrepreneurial activities and income gains.
“This generation also looks set to benefit from one of the largest intergenerational wealth transfer.”
This generation also looks set to benefit from one of the largest intergenerational wealth transfer carried out over a short timeframe.
News Source: UBS Press Release
UBS Group AG (NYSE:UBS) is a global firm providing financial services to private, corporate and institutional clients. It was founded in 1862 and merged several times prior to 1998, when the Union Bank of Switzerland merged with Swiss Bank Corporation – become UBS Group AG. The operational structure of the Group is comprised of Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. The UBS Group is present in all major financial centers and has offices in over 50 countries.
- Origin : Zurich, Switzerland
- Assets : CHF 942.82 billion
- Revenue : CHF 30.61 billion
- Employees : 60,000
Official Website: www.ubs.com
News & Media: Press Release
Updated on 8th August 2016
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