FT News Briefing Saudi Arabia puts outside consultants on notice
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Mar 17, 2025 Major banks like HSBC and UBS are capitalizing on India's wealth management boom as gold prices surge amid tariff fears. Meanwhile, the consulting industry faces a shake-up in Saudi Arabia, where declining demand questions the value of expensive advisory services. U.S. retailers brace for tougher sales, and South Korea grapples with rising preschool enrollments pushing families into financial strain. The podcast dives into these shifting economic trends and their impacts worldwide.
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India's Wealth Management Boom
- HSBC and UBS are expanding wealth management in India due to a growing millionaire population.
- Local wealth managers provide tough competition.
Saudi Consulting Slowdown
- Saudi Arabia's consulting boom is slowing down as Riyadh reevaluates spending.
- Western firms benefited from advising on economic diversification projects.
Middle East Consulting Growth
- P&P's revenue grew significantly more in the Middle East than in the UK, demonstrating the boom's impact.
- The Middle East saw 26% growth compared to the UK's 3%.