What are the specificities of a private bank? For some it is obvious, for others less so. In a rapidly expanding sector, the banking industry includes a large number of different financial institutions.
What is a private bank?
A private bank offers personalized services tailored to the most affluent clients. In general, the client portfolio is limited in order to provide a unique experience.
There are private banks specialized in high net worth management, but also private banks attached to better known commercial banks. (Société Générale, BNP Parisbas…)
Who are private banks for?
The entry ticket varies according to each bank. It can be around 200,000 euros minimum, while others generally require more than 1 million euros.
The objective of a private bank is to help individuals to grow their capital. Each case will be treated according to the client’s needs.
What are the qualities needed to work in a private bank?
To work in a private bank, certain qualities are essential:
– Listening to clients
– Good communication skills
– A strong business sense
– Ability to innovate and analyze
Working in a private bank requires the ability to constantly challenge yourself to meet the needs of a new clientele and a constantly changing market.
