Spain is going through one of the toughest economic crisis in Europe, but private bankers believe the time is right to expand their businesses in the country Rodrigo Amaral finds bankers see now as a unique moment to grow by wooing their rivals clients and capturing the private wealth leaving Spains unlisted savings banks. The global financial crisis, the argument goes, has created an army of unhappy, wealthy clients who have grown disappointed with the services provided by their banks
Private banks in Spain are gaining market share by poaching their rivals clients dissatisfied by poor service during the financial crisis. But there is a fantastic opportunity to expand here via the acquisition of market share, said Luis Ojeda, the head of Deutsche Bank’s Private Wealth Management (PWM) unit in Spain.
Africa is likely to be the slowest-growing region measured by wealth generation in the coming years, but there are some pockets of the continent which are being targeted by private banks Morocco, where BNP Paribas has started private banking services, is one country seen to have such potential
With only 34 percent of HNWI wealth in Brazil managed by private banks, there is some $180bn of client assets up for grabs, according to PBI research Government plans for a tax amnesty could double the amount of funds held in the country, providing a further boost to the industry