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Private banking: Regaining trust, restoring returns

The financial crisis proved almost as tough for wealth managers as it did for investment bankers. They have worked hard to redeem reputations and improve services. The heads of the world’s eight leading private banks tell Helen Avery how they are giving clients the returns they expect.


  • Walter Berchtold, CEO of private banking at Credit Suisse(CS, WB)
  • Douglas Wurth, CEO JPMorgan International Private Bank(JPM, DW)
  • Sallie Krawcheck, President, Bank of America Global Wealth and Investment Management (BoA, SK)
  • Jacques d’Estais, CEO, BNP Paribas Wealth Management(BNP, JE)
  • Chris Meares, CEO, HSBC Private Bank (HSBC, CM)
  • Jane Fraser, CEO, Citi Private Bank (Citi, JF)
  • Pierre de Weck, head of Private Wealth Management,Deutsche Bank (Deutsche, PW)
  • Juerg Zeltner, CEO of UBS’s wealth management division(UBS, JZ)

What were the biggest challenges in the private banking industry in 2010?

BoA, SK Even though much of the world wealth that was lost in 2008/09 (with the exception of real estate) was recouped by 2010 and many of the investment indices have returned to pre-downturn levels, there has been a sea-change from the client’s perspective.

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