Summary
Swiss Private Banks attracting new clients who are less affluent than their traditional wealthy clients will mean nothing new. Even before crisis requirement for minimum investment was quite flexible. Now when flow of new money changed banks brought prior practice to public.
Analysis
Swiss Private Banks attracting new clients who are less affluent than their traditional wealthy clients will mean nothing new.
Even before crisis requirement for minimum investment was quite flexible. Now when flow of new money changed banks brought prior practice to public in conference speeches, articles etc.
Reason to this action from banks side is the need for fulfillment of budgets which is hard to achieve in 2009-2010. Wealthy clients became more mobile with their money and to gain and keep clients loyalty is getting harder and harder.
This author consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
