France’s private banks widen their nets
Private banks draw on their groups’ retail base, while there has been a revival in appetite for structured products. Helen Avery reports.
|Private Banking and Wealth Management Survey 2010|
|Full results index|
FRENCH PRIVATE BANKS have had a challenging year. On the one hand, they have suffered less than many of their European peers because their parent banking groups did not face such severe financial losses during the credit crisis. On the other, however, rumours of the French government cracking down on tax evasion have made French non-residents nervous about the safety and confidentiality of the accounts they hold with French private banks offshore.