Considerable regulatory and cost pressures are forcing private banks to adopt new business models and clear client segmentation; this according to the latest international private banking study conducted by KPMG and the University of St. Gallen.
The study also covers issues such as:
- How does Luxembourg fare in international comparison to its competition in Switzerland, Austria, Singapore and Hong Kong?
- Are location-related factors such as political stability or client data confidentiality still regarded as key unique selling points?
- Is it even worth continuing to pursue cross-border business in such a heavily regulated environment?
- How is the expected wave of consolidation in the private banking sector developing?
- Which clients should be served and which not or no longer?
- How will the role of the client advisor change?