Reshaping the industry
Private banking has not gotten easier – or more profitable – since this time last year. In fact, it is probably more challenging and laden with risk than ever before. The backdrop is a combination of: Ever-tougher regulatory and compliance obligations, which make it more time-consuming and burdensome to open new accounts and transact for clients; excessive cost-income ratios made worse by staff turnover amid stiff competition; and choppy markets, creating volatile and uncertain investment conditions.
There are also some key game-changers which are shaking the foundations of and shaping the trends within the global private banking landscape. Among them are: The end of the glory days of investment banking; the resultant crackdown on remuneration across financial services; the criminalisation of certain non-compliant advice in relation to client funds; the intense scrutiny over the competency of individuals working in this industry; and the spotlight on more rigorous and objective performance measurement criteria. The future for any private bank which is not preparing itself and its staff accordingly is bleak. It is not possible to fight this evolution, so it must now be about really understanding what value means to a client today, and how to deliver it. And also being aware that these answers are changing constantly, and will continue to do so.
This translates into:
- Delivering investment performance in a tangible, transparent and rational way
- Putting in place the most appropriate, relevant and tax-compliant structures
- Having a much more detailed awareness and understanding of regulation and its impact, whether local or global in nature
- Understanding the role and value of technology as a way to support interactions with clients and to enhance their experience
- Building networks and relationships onshore in domestic markets
- Re-indexing client and staff expectations
- Being able to advise the next generation
- Being more professional
Take the opportunity to learn first-hand from industry-leading experts and to discuss with them opinions, experiences, and projections. Be inspired to successfully position yourself and your organization in an ever more uncertain environment.
We look forward to seeing you at the summit
Dr. Mario A. Bassi
Senior Conference Manager,