What is a Private Bank?
A Private Bank is a bank that provides banking & financial services to wealthy clients. Private Banks offer exclusive & personalised services, and privacy for clients.
Wealthy clients are generally defined as High Net-worth Individuals (HNWIs) with more than $2 Million Investible Assets, excluding their first residential property. Ultra High Net-worth Individuals (UHNWIs) are defined as having of more than US$30 Million net-worth. Different Private Bank and countries have different definition of classifying HNWIs. These also change according to economic and wealth development trends.
What do Private Banks do?
All Private Banks provide exclusive banking and financial services to wealthy clients.
Example I
If you like to transfer money to Brazil, Russia, Japan and Australia for investments or to buy a sovereign debt, how do you do it? Do you need to open a brokerage account? How about the currency conversion?
Example II
If you need to buy an investment property in London, New York, Hong Kong or Singapore, how do you do it? Can you get a loan? Should you set up an offshore company?
Example III
You have $5 Million in Investments and $20 Million in Business and Real Estate, how do you ensure the money end up with your intended beneficiaries? How do you ensure the legal process or business partners do not damage or suffer from damages the assets and businesses? How do you protect, preserve and structure your personal wealth and business assets?
Why should I have a Private Bank?
If you have investible assets of more than US$2 Million, it is worthwhile to have a Private Bank.
How do I find a Private Bank?
Your existing bank would likely have a Private Banking unit. You can request for an upgrade of service if you qualify.
Exclusive: Find a Private Bank service
Exclusive: Find a Private Banker service
Help Desk: How do you Select a Private Bank
Which Private Bank is Suitable for me?
Selecting a Private Bank is no easy task. It means entrusting some or much of your assets to a Private Bank.
Exclusive: Find a Private Bank service
Exclusive: Find a Private Banker service
Help Desk: How do you Select a Private Bank
List of Largest Private Banks by AUM
List of American Private Banks
List of Asia-Pacific Private Banks
List of European Private Banks
What is a Private Banker?
The Private Banker is a dedicated Banker in a Private Banker assigned to take care of all your banking & financial needs. This means you don’t have to go to a bank branch to queue for banking services or to contact a banking hotline.
The Private Banker not only takes care of your banking needs, but also assist with all your financial needs such as investments, asset management services and wealth management solutions.
What does Private Bankers do?
A Private Banker is a highly qualified individual who is skilled in banking and most financial services. They are able to provide you with holistic banking and financial advice and services.
Some Example:
Why should I have a Private Banker?
Why not? If you have have the qualifying assets, it is as simple as an upgrade of service. If you do not like to receive any updates or contacts from the bank, you can even request your Private Banker to do so. Otherwise, you might be in the mailing list of the bank’s endless marketing and promotional materials.
Having a Private Banker just save you an incredible amount of time managing your personal wealth & assets. There is always someone who knows your financial situation and how you want things to be done, a Private Banker you can trust.
When it comes to important financial decisions or crisis, your Private Banker is able to offer you holistic advice and possibly share what other clients might have done or gone through.
How do I find a Private Banker?
Although there are many Private Bankers, it is not easy to find a Private Banker. Why?
The tougher question even if they get to you – is how do you select the right Private Banker?
Which Private Banker is Suitable for me?
When you finally find your Private Banker, unless assigned by the bank, you might want to assess if your Private Banker is suitable for you.
For general banking needs, you don’t really need an exceptional Private Banker. But when it comes to managing your investments and creating a wealth structure, you would be rather concerned if your Private Banker is providing you with the right solution or would stay with you for a long time.
Factors to Consider:
Key Trends of Private Bankers spotted by Private Banking Clients:
List of Head of Private Banking
What is an External Asset Manager?
An External Asset Manager (EAM) is an asset manager of financial advisory firm that is independent of a bank. They provide a broad range of financial services including banking services such as deposits, loans and foreign exchange using Private Banks and related financial services infrastructure.
External Asset Managers are high qualified money managers such as Asset Manager, Mulit-Family Office, Family Office or Independent Financial Advisor. They provide services typically to the Ultra High Net-worth clients or High Net-worth clients.
External Asset Managers are also known as Independent Asset Managers.
What does External Asset Managers do?
External Asset Manager (EAM) provides highly specialised and professional asset management services to Ultra High Net-worth clients or High Net-worth clients. They usually operate using multiple Private Banks EAM services, and put together 3rd party or independent services.
Example of Services:
Why should I have an External Asset Manager?
If you have large asset size, with $5 Million or $10 Million and more, you may consider using an External Asset Manager. The largest clients can range from $50 Million to a few billions.
External Asset Manager (EAM) sole objective is to provide financial services to wealthy clients like yourself. They thus do not have conflicts of interests such as a Private Bank driving business alongside a Retail Bank or Investment Bank. An existing Private Bank might be undergoing structural change or stop offering selected products or services, EAMs are able to use different Private Banking platforms to provide the service to you, without disruptions.
External Asset Managers run their practice like a highly regarded law firm or medical service, thus their reputation, trust and credibility are often the reason why you would rely on them. In Private Banks, Senior Management and Private Bankers evolve according to business needs, while EAMs constantly evolve their service around you.
How do I find an External Asset Manager?
Most External Asset Managers keep a low profile as their target market are focused on Ultra High Net-worth clients. It is usually by way of introduction as EAM providers wants to ensure the clients and clients’ source of assets do not come from sectors or countries that are in-conflicts of generally accepted international laws and banking regulations.
Increasingly, EAMs have gained more profile due to increasing number of Private Bankers setting up EAM to provide financial services to their clients.
Which External Asset Manager is Suitable for me?
Find a suitable Asset Manager is not easy. Their services are highly professional and can be highly customised around your financial needs.
For example, if you have real estate and banks around the world, you might need more services such as accounting and tax assistance. These will be on top of your financial needs in banking, investments and portfolio management.
If you need specialised investment opportunities such as Hedge Funds, Private Equity or Alternative Investments, they will be able to put together an investment structure for you, or to source for other opportunities.
List of External Asset Managers
What is a Family Office?
What does a Family Office do?
Why should I have a Family Office?
How do I find a Family Office ?
Which a Family Office is Suitable for me?
List of Family Office
What is Hedge Funds?
What does a Hedge Funds do?
Why should I have Hedge Funds?
How do I find a Hedge Fund ?
Which Hedge Funds is Suitable for me?
List of Hedge Funds
What is a Private Equity?
What does a Private Equity do?
Why should I have a Private Equity?
How do I find a Private Equity?
Which a Private Equity is Suitable for me?
List of Private Equity Firms
What is Offshore Companies?
What does Offshore Companies do?
Why should I have Offshore Companies?
How do I setup Offshore Companies?
Which Offshore Companies’ Jurisdiction is Suitable for me?
List of Offshore Companies’ Jurisdiction
What is Private Investment Companies?
What does Private Investment Companies do?
Why should I have Private Investment Companies?
How do I setup Private Investment Companies?
Which Private Investment Companies is Suitable for me?
List of Private Investment Companies
What is Trust & Foundation?
What does Trust & Foundation do?
Why should I have Trust & Foundation?
How do I setup Trust & Foundation?
Which Trust & Foundation is Suitable for me?
List of Trust Services
List of Foundation Services
What is Philanthropy?
What does Philanthropy do?
Why should I engage in Philanthropy?
How do I setup Philanthropy?
Which Philanthropy Services is Suitable for me?
List of Philanthropy
Singapore
Hong Kong
Switzerland
United States
