KEB Hana | Q&A with Sung-Yeop Kim, EVP, head of the Wealth Management Group and Private BankingĮmirates NBD | Saod Obaidalla, EVP, head of Private Banking Yet private banking still faces a large strategic, if not existential, challenge: adapting from centuries of focus on conservative, multigenerational European and North American wealth to new wealth creators who tend to be entrepreneurial and Asian. The industry slashed its average cost-to-income ratio by more than 3% in 2016, according to London-based analyst Scorpio Partnership. Private banks took advantage of the lull for tactical improvements on at least one front: expenses. The world turned its attention to bigger problems. Most of the year passed without any fresh Panama Papers–style scandal. Soaring stock markets pushed assets under management up to more than $17 trillion worldwide. The year 2017 provided breathing space for the global private-banking industry. Craig Mellow Click here for World's Best Private Banks 2018.
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