Swiss Private Banks Go Down Market as Crisis Destroys Wealth

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Published at: www.bloomberg.com

Swiss banks are facing major challenges

September 26, 2009

Analysis by: GLG Expert Contributor

The issue of the Swiss banks is not limited to the effect of the crisis and the consecutive destruction of wealth.Their challenges are:- increased sophistication of many banks around the world who are closer to customers and can provide similar services;- the stigma attached to Swiss banks after the various "tax scandals" in the US, Germany.....- they are loosing the Ultra High Networth customers (over Euros 30 Millions) who are going to new boutiques which are offering more tailor-made services

Swiss Banks cultivate the affluent besides the high net worth and mega wealth

September 23, 2009

Analysis by: GLG Expert Contributor

Traditionally, Swiss banks only targeted the high net worth and the mega wealth, however, through the years, these two client segments have proven to be difficult to manage and more importantly, difficult to convert to a profitable relationship.

Rewriting the Swiss Private Banking Model

September 20, 2009

Analysis by: GLG Expert Contributor

The Swiss Private Banking industry must accept the changed business landscape and look at its whole business model in the light of the changed circumstances, not simply try to attract a new client base to their old model.

Implications of Swiss Private Banks go downmarket

September 18, 2009

Analysis by: GLG Expert Contributor

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.