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Private Banking: Building a Culture of Excellence

Book Description

An insightful overview of the keys to world-class client service in the private banking sector

As the number of wealthy individuals around the world increases, private banking and wealth management companies have grown to keep pace. After the fast growth the long term success is predicated on both winning and keeping clients, making a client-centric model a must. Private Banking: Building a Culture of Excellence provides a clear, easy-to-follow guide to building a committed base, written by an industry expert.

Presenting an overview of the elements required to build a successful and client-focused private bank that delivers the kind of care and excellence wealthy clients demand, the book even includes real-life examples for a better understanding of concepts and, to help you achieve your goal.

  • Outlines how to implement a practical strategy for success in the growing private banking sector

  • Explores the key drivers in the private banking industry as well as the most recent developments in the environment to help you stay on top of customer demands

  • Includes case studies and other resources to show the keys to private banking done right in action

Private Banking provides useful, hands-on advice for building a strong, lasting business in the private banking sector.

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Dedication
  6. Preface
  7. Acknowledgments
  8. Chapter 1: A Framework for Excellence in Private Banking
    1. Vision and Mission
    2. Present Status
    3. Where and How?
    4. Processes, People, and Plans
    5. Metrics
    6. Conclusion
  9. Chapter 2: What is Driving Private Banking?
    1. An Industry in the Midst of Change
    2. The Four Key Drivers
    3. Conclusion
    4. Notes
  10. Chapter 3: Finding the Right Organisation and Operational Strategy
    1. Organisational Forms and Trends
    2. Private Banking Structures
    3. Designing the Organisation
    4. Conclusion
    5. Notes
  11. Chapter 4: Forces Shaping the Regulatory Environment
    1. The Regulatory Environment
    2. How Regulators and the Industry are Addressing Global and National Concerns
    3. Conclusion
    4. Note
    5. Appendix: Some Key Regulatory Bodies and Legislation
  12. Chapter 5: Putting Clients at the Centre
    1. Making Sense of Client Diversity
    2. Arguments for Segmentation
    3. Current Segmentation Practices
    4. Snapshot of Segmentation Criteria
    5. Behavioural Segmentation
    6. Attracting New Clients
    7. Retaining Clients Over the Long Term
    8. Conclusion
    9. Notes
  13. Chapter 6: Beyond Products—Offering Tailored Solutions
    1. Crises as Catalysts
    2. Has Volatility Become the New “Norm”?
    3. The Role of Financial Services and Products in Wealth Creation
    4. Adapting to a Changing Environment
    5. Matching Client Needs to Products and Services
    6. Conclusion
    7. Notes
    8. Appendix 1: Overview of the Most Common Financial Products
    9. Appendix 2: Key Criteria in the Selection of Funds and Funds of Funds
  14. Chapter 7: Why Brand Matters
    1. The Origins of Branding
    2. The Functions of a Brand
    3. Why is Brand So Important in Private Banking?
    4. How Premium Brands Thrive
    5. Brand Building Requires Discipline and Consistency
    6. Brands Have Personalities and “DNA”
    7. Practical Challenges of Global Brand Building
    8. Importance of Behavioural Branding
    9. Alternative Brand Channels
    10. Conclusion
    11. Notes
  15. Chapter 8: Delivering a Superior Client Experience
    1. The Evolution of Client Experience
    2. Inspiration From the Luxury Hotel Industry
    3. The Mega-Trends Driving Client Experience
    4. Understanding Client Experience
    5. Phases of Client Experience
    6. Creating “Delightful” Experiences
    7. Creating a Client Experience Strategy
    8. Conclusion
    9. Notes
  16. Chapter 9: Understanding Service Excellence
    1. Service Excellence and the Internal Client
    2. Defining the Internal Client
    3. The Service Value Cycle
    4. The Elusive Nature of Services
    5. Sustainable Excellence
    6. The Four Drivers of Service Excellence
    7. Measuring Service Excellence
    8. Conclusion
    9. Notes
  17. Chapter 10: Winning the War for Talent
    1. Why the War Rages On
    2. Why Talent is in Demand
    3. Weapons to Win the War for Talent
    4. Measuring Your Success: The HR Toolkit
    5. Conclusion
    6. Notes
  18. Chapter 11: Defining and Growing Leadership and Culture
    1. What Makes a Leader?
    2. Conclusion
    3. Notes
  19. Chapter 12: Measuring and Managing Performance
    1. Understanding Performance Measurement
    2. The Evolution of Performance Management
    3. From Models to Strategy to Metrics
    4. The Performance Cycle
    5. Dimensions of Performance Management
    6. Defining the Metrics
    7. Private Banking and Performance Measurement
    8. Choosing What to Measure
    9. Balanced Score Card: Soft Measures in Private Banking
    10. Conclusion
    11. Notes
    12. Appendix: Key Performance Indicators
  20. About the Author
  21. Index