Oct/090
Will Private Offshore Banks Keep Your Account Confidential?
Everyone knows that private banks are supposed to be more ”hush hush” than your average bank. Private banking outfits in countries with strong bank secrecy like the Cayman Islands, Switzerland and Panama are expected to keep a low profile. But is the private bank really as secretive as it appears?
Various factors come into play here.
- Where the bank is located.
- Does the bank have operations in foreign countries (and outside the jurisidiction of its home secrecy laws)?
- The size of the bank
Continue reading this informative article on private offshore banks.
Oct/090
Are You Worred About The Future? Swiss Banks Share Your Pain!
Ever worried about what 2010 holds in store for you?
Swiss private banks are feeling the same..according to a survey conducted by Geneve Place Financiere, a body representing Swiss financial firms.
Solitary Swiss banks feel the pain
Relaxation of bank secrecy, less enthusiastic European and US investors, and OECD bullying have contributed to a gloomier than usual outlook for next year.
“The dominant sentiment coming from this survey on the present and future of the financial centre is mitigated, even pessimistic,” said Ivan Pictet, the group’s president.
The Swiss also have reason to feel sorry for themselves - they say the financial crisis was not their doing, but the fault of larger European neighbours and the US.
”The Swiss financial centre has been the victim”, said Pictet, who is also senior partner of a large swiss private bank.
Survey participants indicated that short-term prospects would not improve in any private banking sector, but drew hope from increasing numbers of Middle-Eastern and Russian depositors.
Oct/090
Independent Wealth Manager OR Private Bank Attached To A Global Investment Bank - Which Is Best?
Are you better investing with a smaller independent firm, or one of the global organisations like UBS, Citigroup or J.P.Morgan?
Before the credit crunch, the big financial institutions lured investors with the strength of their investment banking arms. The idea being - if bankers were clever enough to make billions with the investment banking side, they could work the same magic with a private bank account.
But the last couple of years have shown a change in policy after huge write-downs at investment banks, and some like Lehmann Brothers or Bear Sterns going down altogether. When big investment banks like UBS suffered in the sub-prime mortgage crisis their private banking arms took a reputation hit.
The big financial institutions argue that they offer a “one-stop-shop” if you will, and can offer a broader range of financial services which are difficult to replicate in a smaller organisation.The bank can attend to not only the client’s personal needs but also those of his company.
Most of all, big banks market their “in-house” experts and teams of reseachers who can help their private banking clients stay one step ahead.
Smaller private banks and trusts take an opposing view. What they offer is a more open system whereby clients pick and choose from a range of external invesment products. In many cases these very same independent private banks are clients of the large financial services companies.
Aug/090
Opening a Private Bank Account Online
Capital Conservator Private Banking have launched a cutting-edge priority banking service, following increasing inquiries from very large depositors. Features include extreme privacy, close personal attention and the ability to open private bank accounts remotely. The service expects to attract entrepreneurs and business owners along with selected wealth managers….
More about online private banking
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