The next generation of high-net-worth women will transform family and banking dynamics as they achieve higher levels of education and become more involved in family businesses, according to a new research report.
Up to 82 per cent of women from wealthy families are expected to inherit huge sums of wealth over the next two decades, making them significant beneficiaries of an estimated $5 trillion that will be transferred to the next generation by 2030, the Smarter Succession survey by Barclays Private Bank said on Monday.
Despite the increased wealth among women, 41 per cent of respondents said they were not involved in the financial decision making of their family businesses, according to the survey, which polled more than 400 global HNW family members in countries including France, Germany, India, Saudi Arabia, the UAE and UK.
Forty-six per cent of women surveyed said they are involved in the day-to-day running of family businesses compared with 60 per cent of men, the study added.
However, social and cultural changes have started to change the dynamics of HNW families, with 54 per cent of women holding stakes in family businesses compared with 57 per cent of men, while 43 per cent of HNW women have postgraduate qualifications compared with just 14 per cent of their parents.
“The fact that female ownership of family businesses does not equate to high levels of day-to-day involvement potentially leaves female voices less heard in family business board rooms,” the report said.
However, the tide across the Gulf is changing for women in HNW families and also within family businesses, according to Rahim Daya, head of Barclays Private Bank for the UAE and Middle East.
“Increased access to higher levels of education is having powerful implications for women in the Middle East and family offices in the region are increasingly professionalising their boards," Mr Daya added.
“We are seeing women take more leadership positions and become increasingly involved in all financial decisions.”
While 83 per cent of male respondents said they are the decision makers for family wealth, the survey found that 29 per cent of both men and women turned to their sons on matters of wealth, finance and investment compared with just 14 per cent who sought advice from their daughters.
However, a cultural shift is occurring and younger generations have a less traditional outlook on life, it added.
“As traditional family roles change and more women hold prominent positions in international business, their growing global influence is going to be a major economic force over the next decade, redefining areas that have historically been focused on, and dominated by, men,” Rasha Badawi, director at Barclays Wealth and Investment Management Middle East, said.
Kathryn Hawkes of House of Hawkes on being a good guest (because we’ve all had bad ones)
- Arrive with a thank you gift, or make sure you have one for your host by the time you leave.
- Offer to buy groceries, cook them a meal or take your hosts out for dinner.
- Help out around the house.
- Entertain yourself so that your hosts don’t feel that they constantly need to.
- Leave no trace of your stay – if you’ve borrowed a book, return it to where you found it.
- Offer to strip the bed before you go.
Results
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Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
BlacKkKlansman
Director: Spike Lee
Starring: John David Washington; Adam Driver
Five stars
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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What%20is%20Dungeons%20%26%20Dragons%3F%20
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Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
