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Quotes of the month: private banking special

February 2019

“Clients are only going to be willing to pay for quality advice and they won’t be willing to pay  for transactions at all. The transparency is now there for them to make those value judgements”

Iqbal Khan, CEO of international wealth management at Credit Suisse, says his firm is looking to segment private clients based on what they are willing to pay

“The beauty of three million relationships is that they don’t all do the same thing on the same day. Even on a day when the market is closed, we can make $65 million in wealth management because life goes on”

Morgan Stanley chief executive James Gorman has shown that wealth management is complementary to investment banking

“I didn’t want to be private, Swiss or a bank any longer, but a global investment company that managed money better than anyone else – and the CIO was going to get us there”

Jürg Zeltner, former chief executive of UBS Wealth Management, explains how the chief investment office was born out of chaos

“Goldman Sachs, Merrill Lynch, Morgan Stanley – those are masculine brands”

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