KKR convenes wealth management forum with cross-industry members

New initiative includes executives from Morgan Stanley, UBS, Hightower Advisors.

Some of the leading experts from the global wealth management and investment space have been brought together as part of a new initiative from KKR.

The investment firm has convened ten members for the launch of its Global Wealth Investment Council which aims to provide constructive dialogue about macroeconomics, capital markets, asset allocation, and how private markets fit into individual portfolios.

“We are thrilled to convene an esteemed and diverse group of investment experts for this first-of-its-kind initiative,” said Paula Campbell Roberts, chief investment strategist for Global Wealth at KKR and Chair of the GWIC. “We believe that through collaboration and dialogue, we can develop actionable insights that benefit not only our respective organizations but also the broader investment community.”

GWIC members were polled about their concerns and outlooks for the industry with sticky inflation, potential slowing of consumer spending, and job growth topping the concerns.

The survey also found that North America is best positioned for economic growth in 2024, with a soft-landing likely, while China is the most challenged.

Asked about asset allocation, most members said that high-net-worth investors are overweight to cash and underweight to alternatives this year, and they see the need for diversification from stocks and bonds in the belief that stock/bond correlations are likely to remain high in 2024.

The majority of members believe that generating income is the most popular goal of HNW investors this year.

GWIC MEMBERS

The ten expert members of GWIC are:

Sid Ahl, CFA – Co-CIO of Private Clients, Endowments and Foundations, Brown Advisory
Karim Cherif – Head of Alternatives, Chief Investment Office, UBS Wealth Management International
Jean Chia – Global Chief Investment Officer, Bank of Singapore
Jason Draho, PhD – Head of Asset Allocation Americas, UBS Global Wealth Management
Christopher “Kif” Hancock – Chief Investment Officer for International, Brown Advisory
Tomochika Kitaoka – Managing Director, Chief Strategist, Nomura Securities Fiduciary Research and Consulting, CIO Management Division
Stephanie Link – Chief Investment Strategist and Portfolio Manager, Hightower Advisors
Lisa Shalett – Chief Investment Officer, Morgan Stanley Wealth Management