High Net Worth Individual

(redirected from Ultra high net worth individual)
Also found in: Acronyms.

High Net Worth Individual

An individual whose assets exceed his/her liabilities in value by a large figure. There is no hard-and-fast definition of a high net worth individual, though a net worth in excess of $1 million usually qualifies. The SEC, however, defines a high net worth individual as someone who has at least $750,000 under management or whom an investment adviser believes to have a net worth of $1.5 million or more. Many investment vehicles target high net worth individuals because they have more money to invest. Likewise, high net worth individuals are sometimes the only individuals (as opposed to organizations) who are permitted to invest in some vehicles.
References in periodicals archive ?
Annette Hoiness joins the Falcon Private Bank with immediate effect from Societe Generale, where she was Head of Private Investment Banking in the Gulf from 2011 serving family holding companies, family offices and Ultra High Net Worth Individuals (UHNWIs) with tailor-made solutions.
The two co-founded The Wilshire Group, a team of advisers catering to ultra high net worth individuals and families.
Matthew Celenza and Larry DiGioia are to join the firm from Morgan Stanley Private Wealth Management (NYSE: MS) where they were servicing ultra high net worth individuals and their families.
Merrill Lynch Wealth Management has appointed Richard Anooshian as a London-based financial advisor focusing on Middle East high net worth and ultra high net worth individuals.
Research conducted by Heinrich Weber, Swiss Banker and author of 'The Ultra High Net Worth Banker's Handbook,' estimates that there are 150 ultra high net worth individuals (UHNWI) in Kuwait after the crisis with an average wealth of US$370 million.
With capital from chosen global venture capital funds, family offices and ultra high net worth individuals, they closed the fund in the fourth quarter of this year.
Prior to joining Citi, Habis was an Executive Partner and the Chief Executive Officer of Al-Khabeer International, focusing on Ultra High Net Worth Individuals (UHNWIs), Multi Family Offices and Large Cap Corporates in Saudi Arabia.
With this launch, we have personalised and customised offerings for our customers across the wealth continuum - starting with salaried accounts (Suvidha); the newly defined emerging affluent (Citibanking), the affluent (Citigold), the high net worth individuals (Citigold Select) and the ultra high net worth individuals (Citi Private Bank).'
Leisure property has also been a lower priority for the newly-wealthy, however we expect leisure destinations to take off when Ultra High Net Worth Individuals are fully invested in cities.
Banayoti moves to London from the United Arab Emirates, where he established a book of high net worth and ultra high net worth individuals in the UAE, Egypt and Kuwait for Credit Suisse Private Banking.
Liu is a senior private banker based in Citi Private Bank's New York office and focuses on providing strategic advice and customised solutions to ultra high net worth individuals and families.
"Our client base is mainly composed of high net worth individuals, ultra high net worth individuals, family offices and institutions, and this certification demonstrates our commitment to implementing best practice standards in order to ensure we effectively deliver to their requirements," said Nabil Maaloul, Chairman and Chief Executive Officer of GMB.

Full browser ?