Although many banks may breathe a sigh of relief over signs of global economic recovery, significant issues arising from these trends now dominate board agendas. The combined impacts of client pressures and regulatory requirements are fuelling a need to pursue sustainable growth plans that reflect the requirements for transparency and investor protection. These circumstances pose unprecedented risks and opportunities that have the potential to change the face of the entire industry. As a result, banks now face fundamental decisions regarding their cross-border banking models and must discover how and where best to service their clients.
Private banking sector concern and uncertainty were evident based on the results of KPMG’s 2009 survey, Swiss Private Banking: quo vadis?. In our 2010 follow-up study, Defining the Future of Swiss Private Banking, KPMG surveyed both "if" and "how" Swiss private banks will meet the challenges brought on by fundamental and far-reaching changes. This year’s study was again conducted by KPMG in collaboration with the University of St.Gallen. The survey focuses on the strategies and activities and illustrates the steps being taken to address evolving market trends in four key areas:
- Growth and M&A
- Differentiation, client retention and client advisory excellence
- Cross-border banking and regulatory compliance
- Management of client data confidentiality