Scope of this report
- The report begins by examining a number of ways in which private banks can leverage wider group resources, including practical examples
- The report concludes by summarising the issues private banks need to consider before implementing cross-division initiative
- There is a special a focus on providing insight into how to incentivize staff to ensure the private bank generates maximum benefit from its plans
Research and analysis highlights
Group resources can be leveraged at three key stages of customer contact. Branch employees have a key role to play in converting speculative enquiries into qualified leads.
Other group divisions have an important role to play in helping to serve existing private clients by improving customer satisfaction and increasing share of wallet. Opportunities range from outright product development through to simply leveraging existing capabilities through closer intra-group relationships.
Wherever possible, departmental reporting lines and profit and loss accounts need to be structured such that internal referrals and cross-sales are not seen as counter-productive to divisional staff.
Key reasons to read this report
- Learn about the best ways to leverage internal resources to boost private banking business through real-life examples
- Find out how best to structure your operation to avoid internal conflicts that will hamper your business
- Learn how best to incentivize staff to pass on referrals
Analyzes the ways that universal banks can best harness the capabilities of other group divisions to the benefit of their wealth management units. Assesses linkages and opportunities in areas such as retail banking, asset management, stock broking, investment banking and insurance.