Private banking: Global managers lose their shine

Global wealth managers lose out to local players; Client expectations set to change playing field

A survey of high-net-worth clients and wealth management executives reveals a large gap between their perceptions. The report, Wealth management after the crunch, shows that while about 80% of wealth management executives believe they have performed well, only 20% of clients agree.

As Euromoney went to press, some large international banks were bidding on private banking units being put up for sale at the insistence of EU competition authorities following state-support operations. These include the private banking business of ING and Kleinwort Benson, which Commerzbank is auctioning off.

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