Old	  Wealth	  vs	  Young	  Wealth	                                       2012	  
Global	  Wealth	  ShiC	  According	  to	  “The	  Wealth	  Report	  2012”	  hJp://www.thewealthreport.net/	  :	  !   Centa-...
Old	  and	  Young	  Wealth	  Values	  Old	  Wealth	  –	  family	  prevails	  business	  !        “Not-­‐my-­‐money”	      ...
Old	  and	  Young	  Wealth	  Worlds	                                                  Old	  wealth	                       ...
Young	  Wealth	  Target	  Groups	  *	  !          OLIGARCHS	             •   Established/generated	  wealth	  through	  pr...
Wealth	  in	  Russia	  “Ultra	  HNWIs	  in	  Russia	  to	  2016”	  created	  by	  WealthInsight:	  	       !   over	  1,29...
Young	  Wealth	  Decision	  Making	  !        Business	  focused	  –	  main	  concerns	  are	  about	  developing,	  compe...
Young	  Wealth	  ShiC	  New	  challenges	  ahead:	  !        Second	  generabon	  –	  unprepared,	  later	  disappointment...
Approaching	  Young	  Wealth	  Are	  you	  ready	  to	  be?	  !          Business	  developer	  –	  assist	  hands-­‐on	  ...
Zenith	  Capital	  Management	  ZENITH	  CAPITAL	  MANAGEMENT	  
Focus	  of	  Zenith	  Our	  key	  clients	  and	  projects	  are	  in:	    !   Russia	    !   Ukraine	  &	  rest	  of	  th...
Zenith	  Team	           Hannes	  Pihl	                                            Kristel	  Meos	                        ...
Reference	  porwolio	                     Tallinn,	  Estonia	                                    Tallinn,	  Estonia	      ...
Contacts	  Kristel	  Meos	  	                                   Zenith	  Capital	  Management	  Ltd.	  Wealth	  Management...
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Old Wealth vs Young Wealth - Presentation by Anton Gans, Business Advisory, Zenith Capital Management Ltd - Elite Summit

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For more information contact: emailus@marcusevans.com

A presentation by: Anton Gans the Business Advisory at Zenith Capital Management Ltd., who provides his thoughts on Old Wealth vs Young Wealth, a speaker at the marcus evans Elite Summit.

Join the November 2014 Summit along with leading European family offices and global asset managers in an intimate environment for a focused discussion of key new drivers shaping wealth management strategies today.

For more information contact: emailus@marcusevans.com

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Old Wealth vs Young Wealth - Presentation by Anton Gans, Business Advisory, Zenith Capital Management Ltd - Elite Summit

  1. 1. Old  Wealth  vs  Young  Wealth   2012  
  2. 2. Global  Wealth  ShiC  According  to  “The  Wealth  Report  2012”  hJp://www.thewealthreport.net/  :  ! Centa-­‐millionaires:  18,000  in  South-­‐East  Asia,  China,  Japan;      17,000  in  North  America;      14,000  in  Western  Europe.  !  By  2016  South-­‐East  Asia  will  have  about  26,000  centa-­‐millionaires,  based  on  Ledbury  Research,  compared  with  21,000   in  North  America  and  15,000  in  Western  Europe.  !  South-­‐East  Asian  deca-­‐millionaires  (those  with  $10m  or  more  in  assets)  already  outnumber  those  in  Europe,  and  are   expected  to  overtake  those  in  the  US  in  the  coming  decade.  !  The  London  School  of  Economics  professor  Danny  Quah  forecasts  that  by  2050  the  world’s  economic  centre  of  gravity,   based  on  GDP,  will  have  shiCed  to  somewhere  between  China  and  India  from  the  middle  of  the  Atlanbc  in  1980.  2   ZENITH  CAPITAL  MANAGEMENT  
  3. 3. Old  and  Young  Wealth  Values  Old  Wealth  –  family  prevails  business  !   “Not-­‐my-­‐money”   !   Social  responsibility  !   Inherited  wealth     !   Conservabve  !   Family  governance   !   Sense  of  responsibility  !   Wealth  succession   !   Long-­‐term  decision  making  Young  Wealth  –  business  prevails  family  !   “My-­‐money”   !   Opportunisbc    !   Self-­‐generated  wealth   !   High  return  expectabons  !   Business  focus   !   Short-­‐term  decision  making  !   Business  &  wealth  preservabon   !   Exsessive  consumpbon  !   Acbve  in  polibcs   !   Consuming  &  preserving  outside  homeland  3   ZENITH  CAPITAL  MANAGEMENT  
  4. 4. Old  and  Young  Wealth  Worlds   Old  wealth   Young  wealth   Sleeping  Beaubes  Based  on  Forbes  TOP-­‐lists  (according  to  Forbes.ru):  !  Average  age  of  wealthy  Russians:  below  50  Americans:  66  French:  74  !  Inherited  wealth  among  Russians:  0%  Americans:  31%  French:  67%  !  Most  of  adult  heirs  of  the  Young  (Russian)  Wealth  are  acbve  in  the  businesses  to  be  inherited.  !  Only  6  of  35  polled  from  the  Russian  Forbes  TOP  100  have  seJled  heritage  issues.  !  Russia  has  a  paternal  mentality:  parents  shall  give  their  children  as  much  as  possible.  4   ZENITH  CAPITAL  MANAGEMENT  
  5. 5. Young  Wealth  Target  Groups  *  !   OLIGARCHS   •  Established/generated  wealth  through  privabsabons  of  state  assets  in  1990-­‐s   •  Income-­‐base:  natural  resources  or  heavy  industries   •  Based  on  strong  lobby  power   •  Diversify  into  other  business  sectors    !   SELF-­‐MADE  BUSINESSMEN   •  Established/generated  wealth  through  compebbve  business  (and  exits)   •  Income-­‐base:  FMCG  producbon,  wholesale/retail  trade  and  service  indusbres   •  Based  on  strong  management   •  Expand  geographically  !   STATE  OFFICIALS   •  Established/generated  wealth  through  trade  of  influence   •  Income-­‐base:  posibon  in  state  decision-­‐making/inner  circles   •  Based  on  strong  polibcal  connecbons   •  Short-­‐term  wealth  accumulabon  and  preservabon   *  Based  on  the  FSU  markets   5   ZENITH  CAPITAL  MANAGEMENT  
  6. 6. Wealth  in  Russia  “Ultra  HNWIs  in  Russia  to  2016”  created  by  WealthInsight:     !   over  1,290  UHNWIs  in  Russia  as  of  year-­‐end  2011   !   with  a  combined  wealth  of  USD  481  billion     !   and  an  average  wealth  of  USD  372  million/person   !   92  billionaires   !   634  cenb-­‐millionaires     !   567  affluent  millionaires       !   On  a  city  level:   !   Moscow  821  UHNWIs  (64%  of  Russia’s  total)   !   St.  Petersburg      99  UHNWIs     !   Yekaterinburg      38  UHNWIs     !   Novosibirsk      31  UHNWIs     !   Kazan        29  UHNWIs     !   Kemerovo      27  UHNWIs       ZENITH  CAPITAL  MANAGEMENT  
  7. 7. Young  Wealth  Decision  Making  !   Business  focused  –  main  concerns  are  about  developing,  compebng  and  protecbng   business  !   Short-­‐term  horizon  –  most  plans  are  made  with  an  average  span  of  5  years  =  1  term  of   presidency  in  Russia  !   Wealth  preservaXon  –  protecbng  accumulated  wealth    !   Cross-­‐border  mobility  –  access  to  assets  and  new  makets,  residency  issues  !   ByzanXne  hierarchicy  –  supported  from  boJom  to  top  !   Rapid  decision-­‐making  –  at  spot  during  the  inibal  meebng/contact  !   Plain  and  simple  –  income  perspecbve  shall  be  evident  at  the  first  glance  7   ZENITH  CAPITAL  MANAGEMENT  
  8. 8. Young  Wealth  ShiC  New  challenges  ahead:  !   Second  generabon  –  unprepared,  later  disappointment  !   Inheritance  issues  –  business  or  capital,  scaJered  impulsive  assets,  spouces  vs  lovers  !   Transibon  to  long-­‐term  planning  –  to  preserve  wealth  over  generabons    !   Tiding  up  the  society  –  beJer  life  for  children/family  now  !   Internabonal  and  global  integrabon  –  business  and  personal  8   ZENITH  CAPITAL  MANAGEMENT  
  9. 9. Approaching  Young  Wealth  Are  you  ready  to  be?  !   Business  developer  –  assist  hands-­‐on  in  business  management  and  development,  provide   business  solubons  and  solve  problems  !   Business  broker  –  networking  and  providing  business  leads  and  partners  for  the  client  !   Growing  with  the  business  –  earning  client’s  trust  through  being  “brothers  in  arms”  !   Thinking  “out  of  the  box”  –  dealing  with  clinet’s  spontaneous  lifestyle,  e.g.  extravagant  and   impulsive  expenditures,  complicated  love-­‐affairs  !   Part  of  his  world  –  thinking,  talking  and  walking  his  way    !   Partner  of  Zenith  Capital  Management   9   ZENITH  CAPITAL  MANAGEMENT  
  10. 10. Zenith  Capital  Management  ZENITH  CAPITAL  MANAGEMENT  
  11. 11. Focus  of  Zenith  Our  key  clients  and  projects  are  in:   !   Russia   !   Ukraine  &  rest  of  the  FSU   !   the  Scandinavian  countries   !   the  Balbcs    Sectors  of  corporate  projects   !   Healthcare  services  and  technologies   !   Transportabon  and  power-­‐generabng  infrastructure   !   Mining  of  non-­‐ferrous  metals   !   Hotel  development  and  management   !   Food  industry   !   Electro-­‐technical  manufacturing   !   Real  estate  investments  (offices,  retail,  industrial)   ZENITH  CAPITAL  MANAGEMENT  
  12. 12. Zenith  Team   Hannes  Pihl   Kristel  Meos   Aavo  Koppel   Anton  Gans   Physical  Asset  Management   Wealth  Management   Corporate  Finance   Business  Advisory          ✓  16  years  in  real  estate  sector   ✓  17  years  in  private  banking  and   ✓  18  years  in  strategy  &   ✓  19  years  in  B2B  sales  and  ✓  Concepbon    of  development,  sales   financial  sector.  Founding  partner   management  consulbng  and   innovabve  markebng   strategies  and  administrabon,   of  Trigon  Wealth  Management   investment  banking     ✓  Commercial  banking,   private    real  estate  porwolio   M&A  transacbons,  equity   marine  infrastructure  and   ✓  Creator  and  manager  of  private   ✓  management   issues,  financing  arrangements,   port  development  across   banking  at  Swedbank  Estonia    ✓  ERI  Kinnisvara  managing  partner,     buy-­‐outs   the  markets  of  the  Balbc   NAI  Global  representer  in  Estonia   ✓  Former  member  of  the  board  of   States,  the  CIS,  the  EU   Swedbank  Estonia   ✓  Mostly  across  all  the  Balbc  ✓  founder  and  a  member  of  board  of   markets   ✓  Lived  and  worked  in   EKMK   Moscow,  Russia   ZENITH  CAPITAL  MANAGEMENT  
  13. 13. Reference  porwolio   Tallinn,  Estonia   Tallinn,  Estonia   Moscow,  Russia   Sillamäe,  Estonia   seyng  up  and  managing  the  company   founding  Hansabank  Private  Wealth   seyng  up  new  business  of  vehicles  handling   aJracbng  foreign  direct  investments  into   Management,  Managing  Swedbank  Private   terminals  and  transportabon  means   terminal  development  and  operabon   Banking   Tallinn,  Estonia   Tartu,  Estonia   Tallinn,  Estonia   Riga,  Latvia   aJracbng  foreign  direct  investments  into   strategic  development  of  Estonian  Aviabon   sale  of  the  leading  Balbc  confecbonery  AS   Balbc  expansion  strategy  and  subsequent   terminal  development  and  operabon   Museum   Kalev  to  Orkla  Group   acquisibons  of  Latvian  leading  brewery   Lacplesa  Alus  and  Balbc  leading  juice  and   mineral  water  producer  Cido   Tallinn,  Estonia   Tallinn,  Estonia   Tallinn,  Estonia   Tallinn,  Estonia   expansion  strategy  and  subsequent   sales  management  and  advisory  of  a  200-­‐ organising  financing,  acquisibon  and  asset   manager  and  owner  of  on  of  the  first  Estonian  acquisibons  of  Eriautobaas,  Prügipress  and   room  mulbfuncbonal  building  development     management  for  the  largest  DIY  store  K-­‐Rauta   real  estate  brokerage  company  Eri  Kinnisvara   Vanspo  Service   real  estate   ZENITH  CAPITAL  MANAGEMENT  
  14. 14. Contacts  Kristel  Meos     Zenith  Capital  Management  Ltd.  Wealth  Management   Tartu  mnt.  7  kristel.meos@zenith.ee   10145  Tallinn,  Estonia  phone:  +372  50  50  496   zenith@zenith.ee     www.zenith.ee  Hannes  Pihl  Physical  Asset  Management  hannes.pihl@zenith.ee    phone:  +372  50  24  668    Aavo  Koppel  Corporate  Finance   Disclaimer: THIS PRESENTATION HAS BEEN DRAWN UP BY ZENITH CAPITAL MANAGEMENT (’COMPANY’), AN INVESTMENT ADVISORY FIRM REGISTERED IN ESTONIA. TO THE BEST OF THEaavo.koppel@zenith.ee     COMPANY’S KNOWLEDGE AND BELIEF, THE INFORMATION CONTAINED IN THIS PRESENTATION IS TRUE, CORRECT AND NOT MISLEADING. NO GUARANTEE IS OFFERED IN RESPECT OF ANYphone:  +372  50  48  886   INFORMATION IT CONTAINS. THIS PRESENTATION IS ISSUED ONLY FOR INFORMATION PURPOSES AND DOES CONSTITUTE NEITHER AN OFFER NOR A RECOMMENDATION TO   PURCHASE OR SELL AN INVESTMENT PRODUCT OR SERVICES OR TO CONDUCT LEGAL OR OTHER TRANSACTION. THE INFORMATION CONTAINED WITHIN THIS PRESENTATION HAS NOT BEEN REVIEWED IN THE LIGHT OF YOUR PERSONAL CIRCUMSTANCES. THIS PRESENTATIONAnton  Gans   HAS BEEN PROVIDED TO YOU AS AN INTRODUCTION TO FINANCIAL SERVICE (’SERVICES’) OFFERED BY THE COMPANY AND IS PROVIDED SOLELY FOR YOUR INFORMATION. THEBusiness  Advisory   INFORMATION CONTAINED HEREIN MAY NOT BE REPRODUCED OR REDISTRIBUTED, IN WHOLE OR IN PART, TO ANY OTHER PERSON. ANY INVESTMENT ENTAILS RISKS AND THE INVESTORSanton.gans@zenith.ee     ARE EXPECTED TO CAREFULLY CONSIDER ALL THE RISKS TO WHICH THEY MAY BE EXPOSED TO WHILE USING THE SERVICES. FOR INVESTMENT ADVICE OR FOR DISCUSSING THEphone:  +372  52  62  340   SUITABILITY OF THE SERVICES, PLEASE CONTACT THE REPRESENTATIVE OF THE COMPANY. ZENITH  CAPITAL  MANAGEMENT  

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