Private banking: Wealth managers struggle to define their identities

For many of the largest private banks 2015 was a year of restructuring and geographical retrenchment. Only a few global players remain. This year looks set to be just as turbulent, but will clients put up with yet more change?

Phil Di Iorio, chief executive at JPMorgan Private Bank and Euromoney’s best private banking CEO of 2015

Last year was a challenging one in wealth management, showing again that the industry has yet to find its footing in a low-return, high-cost environment.

During 2015 the main global banks made big changes. HSBC started the year off embroiled in tax evasion charges and ended it by appointing Rothschild to help restructure its private banking business. It also lost its head of China, Richard Hu, to Julius Baer.

Private banking: Wealth managers struggle to define their identities

Thanks for your interest in Euromoney!
To unlock this article:

Transformative trends in wealth management

The future of private banking in the Middle East: Five trends leading the new era

Bank of Singapore pioneers ESG tools for private banking in Asia

Asia’s private banking reimagined: Four forces reshaping wealth management

Private banking: Wealth managers struggle to define their identities

Thanks for your interest in Euromoney!To unlock this article:

Transformative trends in wealth management

The future of private banking in the Middle East: Five trends leading the new era

Bank of Singapore pioneers ESG tools for private banking in Asia

Asia’s private banking reimagined: Four forces reshaping wealth management

Thanks for your interest in Euromoney!
To unlock this article: