Nearly Half Of UK's Wealthiest Financiers Are Foreign Born
- Russian oligarch Abramovich tops list that includes those born in India and China
LONDON, June 17, 2013 /PRNewswire/ -- Wealth-X, the ultra high net worth (UHNW) business development solution for global private banks, luxury brands, educational institutions and non-profits, has released a list of the 20 wealthiest financiers in the UK, of whom nine out of 20 were born outside the country.
The total wealth of the financiers in the list exceeds US$27 billion, and foreign born ultra high net worth individuals (UHNWIs) constitute 66 per cent of that total.
Russian oligarch Roman Abramovich heads the list with a net worth of US$12 billion. The owner of Millhouse Capital UK has properties in several countries but spends a substantial amount of time in the UK.
The table shows the five wealthiest foreign born UK-based financiers and their positions in the top 20 list.
| Rank |
Name |
Country of Birth |
Net Worth (US$ million) |
Company Name |
Position |
| 1 |
Roman Abramovich |
Russia |
12,100 |
Millhouse Capital |
Owner |
| 2 |
David Reuben |
India |
4,800 |
Reuben Brothers |
Co-founder |
| 5 |
William Fisher |
US |
1,800 |
Manzanita Capital |
Founder |
| 7
|
Alexander Knaster |
Russia |
1,400 |
Pamplona Capital Management |
Founder |
| 7 |
Michael Hintze |
China |
1,400 |
Convertible and Quantitative Strategies (CQS) |
Founder |
"This reaffirms London as an attractive, premier way-station for the world's ultra affluent," said Patric Marshall, Wealth-X's Managing Director for Europe. "Despite being born in another country, the wealthiest financiers have chosen to build their financial empires in the UK, not New York, Hong Kong or Singapore."
Of note is the UK's non-domicile policy that deems someone a resident if they spend 183 days in a tax year or 90 days on average over four years, a move London stands to benefit from as the ultra wealthy spend more time in the UK.
Wealth-X CEO Mykolas Rambus said, "The high number of foreign born financiers stands out in this list. This presents professionals in the banking, non-profit and luxury sectors with vast opportunities to engage these ultra-wealthy individuals."
For the full list, please visit: http://www.wealthx.com/articles/2013/top-uk-20-financier-list/
About Wealth-X
Wealth-X provides detailed intelligence on the world's ultra high net worth individuals The firm's Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in major financial centres.
Please visit: www.wealthx.com
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