Private Banking: Building a Culture of Excellence

Chapter 6

Beyond Products—Offering Tailored Solutions

By Guido Ruoss*

Different clients represent the full spectrum of individual needs and requirements, and this influences the products and services that a private bank provides. A client in Asia, for example, doesn’t necessarily require the same product as one in Brazil. Thus, products and services need to take into account this diversity and ensure solutions that are tailored to match each specific client’s needs and regulatory constraints. As a result of the “new paradigm” in private banking characterised by increased transparency and greater compliance in tax matters, cross-border clients are likely to be more open and willing to initiate a genuine dialogue with their banks. Such increased interaction will enhance product development. With regard to products, it might be noted that some have features that are easily replicated and can thus be described as commodities. Products that fall into this category might be outsourced. But it is important to keep control over the process to ensure a uniform, high level of quality.

Looking at some of the most successful investment strategies, a long-term value-driven investment strategy offers the greatest opportunities. Investing in a long-term trend means taking into account developments shaping all aspects of our lives over the coming decade and taking advantage of those countries, sectors, and companies that will benefit from these forces. The important trends are “planet” (i.e., ...