Private Banking and Wealth Management Services Offered by Banks

Annals of the University of Petroşani, Economics, Vol. 9, No. 1, pp. 231-240, 2009

10 Pages Posted: 13 Jan 2010

See all articles by Imola Driga

Imola Driga

University of Petrosani

Dorina Nita

University of Petrosani

Ioan Cucu

University of Petrosani

Date Written: December 14, 2009

Abstract

The paper examines the features of private banking business focusing on the substantial growth in private banking over the last decade as commercial banks have targeted upmarket high net worth individuals. The accumulation of wealth has prompted the development of private banking services for high net worth individuals, offering special relationships and investment services. Private banking is about much more than traditional banking services of deposits and loans. It's about providing a one-to-one service by a relationship manager or a private banker to clients with a certain level of wealth. The globalization of financial markets provided access of private banking clients to a broader array of products, thus rendering greater portfolio efficiency and optimization of return through diversification. These kinds of services include: Protecting and growing assets in the present, providing specialized financing solutions, planning retirement and passing wealth on to future generations.

Keywords: high net worth individuals, client segmentation, private banking, wealth management

JEL Classification: G21, G24

Suggested Citation

Driga, Imola and Nita, Dorina and Cucu, Ioan, Private Banking and Wealth Management Services Offered by Banks (December 14, 2009). Annals of the University of Petroşani, Economics, Vol. 9, No. 1, pp. 231-240, 2009, Available at SSRN: https://ssrn.com/abstract=1536021

Imola Driga (Contact Author)

University of Petrosani ( email )

20, Str. Universitatii
Petrosani 332006
Romania

Dorina Nita

University of Petrosani ( email )

20, Str. Universitatii
Petrosani 332006
Romania

Ioan Cucu

University of Petrosani ( email )

20, Str. Universitatii
Petrosani 332006
Romania

HOME PAGE: http://www.upet.ro/

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