The closing debate in this year’s Euromoney global private banking and wealth management virtual event was notable on many levels. It was of course virtual – as almost every event has been in 2020. But that didn’t stop our experts from getting stuck into the issues facing every private bank and wealth management institution.
CLOSING DEBATE AGENDA
OUR EXPERTS DISCUSS:
- Increasing global transparency is a powerful force of change in the industry. But there is naturally going to be a higher level of focus on transparency in some markets than in others. How do you deal with that dichotomy?
- Compliance costs are rising around the world, globally, locally and intra-regionally. How do you keep a handle on costs? Is the greatest source of new regulation the EU?
- How have recent regulatory changes affected your business? What specific rule changes do you spend most of your time talking about, on the one hand in-office with fellow RMs, and on the other hand with clients?
- Are wealth management institutions doing enough to work to the strengths of women, both as RMs and as clients? If they are falling short, where is that happening?
- Do you offer specific products aimed at female clients? Do women prefer to work with female relationship managers?
- How are younger relationship managers changing the business internally? Do new talented RMs have different aims and ambitions from the previous generation, from flexible timekeeping to expecting to be challenged, to having ambitious ESG expectations of their own, that they want their employer and clients to meet?
- Private equities vs bankable assets: discuss the latest asset allocation trends.
- How do you help clients integrate philanthropy into their wealth management strategy? What do client expectations look like in philanthropy and in ESG? Discuss the methodologies of quantifying and evaluating impact.
- Cybersecurity is a growing concern across the industry. What steps are you taking to guarantee you will not find itself a target of a digital hack or targeted security breach?
- The past decade has been good to the industry. Challenging, yes, with the level of digital disruption and compliance cost challenges. But it has rewarded those with wealth to protect. What do the 2020s hold? What regulatory risks or economic opportunities does this decade present?
- Profitability and growth: with margins getting thinner, how are you looking to continue to generate strong returns?
- Much is said about engaging the younger generation, with trillions of dollars’ worth of HNW and UNHW wealth set to change hands this decade. But what of older clients: how do you engage with them? Is the older generation exhibiting any shift in brand loyalty toward their primary wealth management provider? Are older clients as interested as younger generations in new ideas and innovations?
CLOSING DEBATE SPEAKERS
Emma Crystal is a Managing Director of Credit Suisse in the International Wealth Management division, based in Zurich and has been a member of the IWM Management Committee since 2018. As of September 2020, Emma is leading IWM’s Northern & Western Europe business as well as the newly created Sustainable Client Solutions (SCS), establishing an integrated delivery around sustainability for IWM clients.
Prior to her current functions, Emma held a number of senior leadership functions in Zürich focusing on European clients as well as covering Family Offices for the UK and Nordic markets as part of Credit Suisse's Ultra High Net Worth Clients Group based in London. Before joining Credit Suisse, she worked at Deutsche Bank for 10 years in investment banking.
Rob is the Investment and Board for St. James's Place Wealth Management, and CEO of St. James’s Place Unit Trust Group Limited. Rob joined St. James’s Place Wealth Management on the 7th January 2019 and was officially appointed as Board Director on the 13th May 2019. He is responsible for the Investment Proposition to help Partners grow and protect the wealth of their clients.
Rob is co-founder of Redington, one of the UK’s leading investment consultancies, and has worked closely with SJP’s Investment Committee for a number of years. He’s an advocate for financial education and founder of the charity RedSTART. Rob authored the children’s book Save Your Acorns to teach children how money works
Bradesco is the second-largest Private Bank in Brazil with more than 13 thousand clients Bradesco provides advisory, investment, wealth planning and banking solutions to its clients through its 15 offices in Brazil and internationally through Banco Bradesco Europa in Luxembourg. Mr Miranda has an extensive 20-year career in the financial
industry, having worked in both regional and global roles for the wealth management, equities and derivatives businesses for the top banks. Mr Miranda is also a member of the Private Banking Executive Committee for ANBIMA the Brazilian Financial and Capital Markets Association.
Mei Yufang (MY) is deputy general manager, wealth management and private banking, at China Construction Bank. Mei has worked for CCB for nearly 30 years, moving from retail banking in 2006 to focus on wealth structures, family trust, investment research and strategy, and customer relationship management.
Veronika Zhukova (VZ), Managing Director, Head of financial products development and innovations, Sberbank Private Banking, has worked with high and ultra-high net-worth clients in Russia, Europe and Singapore. She started her career at Citi, leaded Citigold proposition for Europe and Asia, before moving to join the Russian banking firm.