The global financial crisis has led to a decrease in assets under management of Private Banking and Wealth Management providers. As a consequence, numerous providers suffered a severe cutback in earnings that depend on the amount of managed assets, volumes and performance.
Clients’ behaviour has also been substantially influenced by the crisis. In addition, the regulatory environment has been subjected to an extensive change through MiFID implementation. This causes plummeting demands in specific product classes and thus fosters the reduction of the earnings sources.
Success in Private Banking and Wealth Management fundamentally depends on the way banks adapt to these market evolutions in order to meet clients expectations and foster trust. Furthermore, these activities being judged less volatile than others all large banking networks are preparing to launch such services for mass-affluent customers.
A further current movement in the market is the internationalization of Private Banking and Wealth Management providers for the benefit of a multi-market appearance, economies of scale and global clients servicing. Eurogroup Consulting intensely supports internationalization processes due to its multi-local model.
At EUROGROUP CONSULTING, we dispose of profound expertise in Private Banking and Wealth Management covering operating models, family office, financial planning, client acquisition, retention and segmentation strategies, cost analysis, products and fees management, client relationship management IT-tools, IT strategy, process re-engineering and sourcing.