|
By Arnd HEßELER, Executive Manager and Axel SARNITZ, Partner at zeb consulting
Many banks are currently pushing the business activities with their wealthy customers. And rightly so, because the private banking market is growing. Despite some adversities, such as increased regulatory requirements, a persistently low interest rate environment and new digital competitors, the European market is expected to grow between 3% and 4% per annum. Last year's global wealth even grew by an impressive 7.1% according to the latest Allianz Global Wealth Report. However, as the zeb.Private Banking Studies of recent years have shown, the rise in asset volumes has rarely been reflected in higher profits.
Often the opposite happened: falling margins led to...
|