Private Banking: The Future of the Industry

DAY TWO, 15:00-16:15

Fundamental changes are occurring globally, and classic private banking is not immune to these processes, but rather entering a new stage of evolution. As a result of the 2008 crisis, the understanding of risk among private banking clients shifted from the traditional system of “risk-yield” coordinates to one that is multi-faceted, including such parameters as liquidity and the currency of investment. A new instrument also appeared for investors – the commodity asset. Meanwhile, regulation of the activity of financial institutions was tightened, while government control over monetary flows was strengthened.In these new conditions, client expectations also changed: demand increased for financial instruments with a transparent structure, while products were developed for individual clients amid wide diversification of assets. The geographic centers of private banking activity are shifting, and new opportunities are opening for Russian private banks.In our panel discussion, we will discuss the following topics:

  • Traditional private banking services
  • The evolution of private banking concepts
  • Characteristics of Russian clients
  • Client expectations
  • Lessons of the 2008 crisis: individual approach to client needs
  • Change in geography of private banking
  • Prospects for Russian private banking in new conditions