British women are becoming increasingly wealthier than men, according to research from an investment bank published on Monday.
Researchers for Investec Private Bank found the number of wealthy women is increasing, with 2.4 million UK women having more than 25,000 pounds (US$45,000) in savings accounts alone.
The majority of these women (60 per cent) are married or cohabiting, 16 per cent are single and the remainder are widowed, divorced or separated.
Analysis from the bank's data has found that since October 2003, 45 per cent of new clients who opened one of their accounts (which has a minimum balance of 25,000 pounds) have been women who have done so in their own name.
Research published last month showed that there are now an estimated 360,000 women in Britain who are worth half a million pounds or more each.
Between them, they own assets worth almost 300 billion pounds (US$ 540 billion) and their numbers are expected to increase rapidly. It is estimated that by 2025, women will own 60 per cent of the nation's personal wealth.
Over the past 30 years, the female employment rate has jumped from 42 per cent to 70 per cent, while almost a third of managers are now women. In 1974, the number of women managers was a mere 2 per cent.
However, other factors also come into the equation. Women are now living longer, inheriting valuable properties and other assets from their spouses and receiving generous divorce settlements.
