Private bankers' role must evolve to please clients

If banks are to retain and grow their customer base, the role of the private banking adviser needs to evolve, according to research conducted by Reuters and Booz Allen Hamilton. The research was based on in-depth interviews with 60 advisers from 27 private banks in UK, Germany and Switzerland, plus 60 clients of private banks from the same three countries. It looked at how well these clients, high net worth individuals each with an average wealth of o4.7m, view the service provided by their private bank. The survey showed private banks must improve the value of their service thr...