Chennai: Wealth managers and private banks are anticipating unprecedented growth over the next three years, according to the latest findings from the PricewaterhouseCoopers 2007 Global Private Banking / Wealth Management Survey.

CEOs of different companies are predicting that on an average, their assets under management will grow 30 per cent annually.

The survey, which ascertained the views of senior executives of 265 organisations within the global private banking and wealth management industry, found that markets in the Asia-Pacific region and Eastern Europe are expanding the fastest, as organisations rush to service the new wealth creators in these regions.

The study also revealed the commitment among wealth managers to increase `share of wallet,'' compared to previous surveys. Share of wallet has emerged as the new key performance indicator, globally as well as in emerging economies like India, as wealth managers seek to become trusted advisers and gain new clients.

According to the survey, almost 90 per cent of CEOs are of the view that there will be at least some, if not significant, consolidation in the industry; and more than 50 per cent of them plan to open operations in new countries over the next two years.

The survey is split into seven sections: CEOs'' views, markets and clients, systems and processes, profitability and performance metrics, human resources, client relationship managers and risk management and compliance.