Tamer Rashad

The very wealthy are generally understood to be natural stakeholders in luxury. With Capgemini and Merrill Lynch presenting their 15th World Wealth Report last month, Executive sat down with Tamer Rashad, head of Middle East at Merrill Lynch Wealth Management, to inquire about the luxury and ‘passion’ investments of high net worth individuals (HNWIs). The World Wealth Report analyzes buying and investments related to luxury as a specific area covered separately from financial investments. What distinguishes the Middle East from other world regions in these investments of passion? Let me start by defining and describing what’s included in investments of passion. We have luxury collectibles, like automobiles, boats, jets, etcetera. We have art across different categories. We have jewelry, gems and watches, as well as other collectibles, such as coins, wine, antiques, etc. Then there is sports investment, which is basically investing in sports teams, sailing, racehorses, etcetera. There are