Private banking roles can be such a good fit for Middle East’s women talents

Private banking roles can be such a good fit for Middle East’s women talents

According to a survey by Euromoney, 66 per cent of private banks are looking to recruit more women. With the Middle East booming and the wealth management industry growing fast, more women in the region are getting into the lucrative private banking sector. This will have significant benefits for private banks, their clients and society as a whole. Globally, women are expected to control over 34 per cent of the world’s wealth this year, according to research by Boston Consulting Group (BCG), adding $5 trillion to the global wealth pool; and women’s wealth is outpacing overall growth. The Middle East is no exception. In the UAE alone, women are projected to control assets worth $140 billion by year end. This reflects a broader story of female empowerment across the region. Women outnumber men at university in 15 of 22 Arab countries. And women increasingly lead major organisations in the region. such as First Abu Dhabi Bank, the Saudi Tadawul Group, Arab Bank and Morocco’s Capital Market Authority. According to Accenture, there is evidence that globally women are likely to become the major beneficiaries of the largest inter-generational wealth transfer in history in the next 25 years as many women outlive