Private Banking and Wealth Management Survey 2021: Banking’s new engine

Once a branch line of the banking industry, private banking and wealth management is now a driver in its own right. It offers a powerful way to grow income, valuations and returns. But the pressure is on as banks need to scale up or sell out.

The next decade will be one of great change for the private banking industry. Wealth will narrow at the top end, as it settles into the hands of a select group of the super-rich.

Further down the pyramid, it will broaden to serve more high net-worth (HNW) families, super-affluents and mass-affluents – in multiple markets.

Providers will fight for the right to serve a prized client, driven by a raft of factors, from the industry’s capital un-intensive model to its elevated valuations, higher fees and better return on equity.

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