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Private Banking and Wealth Management Services Offered by Banks

Author

Listed:
  • Imola Drigă

    (University of Petroşani, Romania)

  • Dorina Niţă

    (University of Petroşani, Romania)

  • Ioan Cucu

    (University of Petroşani, Romania)

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.

Suggested Citation

  • Imola Drigă & Dorina Niţă & Ioan Cucu, 2009. "Private Banking and Wealth Management Services Offered by Banks," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 9(1), pages 231-240.
    • Handle: RePEc:pet:annals:v:9:i:1:y:2009:p:231-240
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    References listed on IDEAS

    as
    1. Hussein A. Abdou, 2009. "An evaluation of alternative scoring models in private banking," Journal of Risk Finance, Emerald Group Publishing, vol. 10(1), pages 38-53, January.
    2. Anna Omarini & Philip Molineux, 2005. "PRIVATE BANKING IN EUROPE - Getting Clients & Keeping Them!," Finance 0509011, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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