"It is entirelyconceivable that AsiawouldovertakeNorth Americain thenear future," said Wilson so, a managing directorat Merrill LynchGlobalWealthManagement.
In a recent Merrill Lynch and Capgemini report, the number of millionaires in the Asia Pacific has increased considerably and is now matching the numbers in Europe and North America.
Think, for example, of the success that the likes of Merrill Lynch have had of late in mergers and acquisitions in Europe or Asia, and the value of good brand-awareness becomes apparent.
Merrill Lynchs chief investment strategist, Charles Clough, explains why: The currency collapse in Southeast Asia reflects weaknesses in banking there.