Private banks will only survive if they adopt new ways of doing business, believes David Durlacher, CEO of Julius Baer International

The Swiss wealth management industry is facing numerous challenges and must do more to embrace digital solutions if it is to remain the market leader

Many family offices have been slow to adopt the latest digital solutions but they must if they are to remain relevant to a younger client base

Most of the world’s richest women inherited their wealth, but of those who can be considered self-made, almost half hail from Greater China

Covid-19 has reinforced the need for private banks to transform their digital offerings, which will mean improving the client experience and efficient use of data, explained Jennifer Miller from US tech provider Vuture in a recent PWM webinar

Change is risky for firms and boards of directors must see beyond talk of disruption and innovation to focus on essential qualities and a handful of best practices

Private banks had already been rethinking the way they service global families before coronavirus hit but the crisis means they are focusing more than ever on this key client segment

Global families are keen to share information and even co-invest, and a good private bank has a vital role to play in making that happen, believes David W. Fox Jnr, president of the global family office group at Northern Trust