Pure-play private banks do not try to be everything to everyone. They aren’t retail banks and they don’t underwrite stocks and bonds. They’re wealth managers in the traditional sense, helping clients invest with longevity and legacy in mind, creating tailor-made investment strategies that align with the individual’s ambitions.
This perfectly describes LGT Private Banking, named the world’s best pure play/boutique private bank this year. Its chief executive Olivier de Perregaux tells Euromoney: “In my view, being a great pure-play operator means having a strong commitment and focus on private banking.”
“The other way of looking at it is that you really concentrate on your clients,” he adds. “This may sound obvious, but in private banking, where you have very knowledgeable, well-informed, experienced and successful clients, it's important to be close to them: to listen, to be responsive and to provide attractive tailored solutions. Achieving this consistently on a daily basis is easier said than done, but it is absolutely key to being a great pure-play private bank.”
LGT