10 November 2010. Their clients, however, have become much more demanding when it comes to returns on investment, product and performance transparency as well as the quality of advisory services provided. So far, only a third of the private banks have begun modifying their business models in order to accommodate new regulatory requirements and client needs. Additionally, the topic of data security has taken on strategic importance.

Defining the future of Swiss Private Banking
Swiss private banks must satisfy an increasingly complex catalog of regulatory requirements. At the same time, clients and investors are demanding greater returns on investment, increased transparency of products and performance as well as improved quality in the advisory services provided. The increase in costs that this is triggering combined with the still unstable international market environment are making these challenges particularly difficult to manage.

Data security as a strategic topic
Consensus over the need to reassess and further tighten security and protection levels is underpinned by proactive activity at the vast majority of banks. Four out of five have initiated specific projects to review strategy and safeguard effectiveness. Most expect to increase expenditure over the next two years on both current and new measures.

Picture: photocase/Grammbo