IntroductionThe global economy is well on the road to recovery and private banks are moving once again to strengthen their positions in a profitable landscape.
Gone are the days of consolidation to secure a core position and wealth managers want to know how to expand what they have in the best possible way.ScopeThis report covers best practice in wealth management around the globe, with a focus on the Asia-Pacific regionCompetitors covered in this report include Merrill Lynch, HSBC, Barclays, Coutts, Citigroup, St.
George, DBS, UOB, OCBC, Sand Aire and Credit SuisseThis report incorporates primary research sources including private banks and wealth managersSecondary research sources include central banks, census and statistics departments and internet researchHighlightsCitigroup is ensuring that it is always at the forefront of the client's thoughts on investing.
Indeed, by targeting the children of wealthy clients, the bank is likely to be the first point of contact when the time comes to take financial responsibility.In many cases competitors stand out more because of the deficiencies of the market than through being particularly innovative or far-reaching.
In an industry that is built on elevated service levels this is a sad prognosis.What makes Coutts' segmentation strategy so robust is that the bank has chosen to take many different factors into account in breaking the client base down.
It is difficult and costly to split down a client base at all, so doing things in this way makes Coutts an example of best practice in segmentation.Reasons to PurchaseMarketing managers: Find out how your competitors are presenting themselves to the market and leveraging distribution and information channelsStrategy managers: Benchmark yourself against your competitors through analysis of their initiativesPrivate banking directors: Find out what is best practice in client centricity and what your competitors are doing to get ahead