It remains difficult to differentiate between private banks and what they offer clients. In a fragmented marketplace, the rewards for those players able to get their branding strategy right could be considerable 

Carrying out a thorough due diligence check before taking on clients can help protect a private bank’s brand, but if a mistake is made, it is always best to admit it

Private banks, which tend to feel very traditional, could learn a thing or two from the luxury sector, which has managed to make itself more relevant to millennials 

US banks are enjoying a renaissance, believes Citi’s private banking boss Peter Charrington, as they have been quickest to adapt their business models to the post-financial crisis world

The wealth management industry is split between large global banks and boutiques, but sitting between those two extremes creates plenty of opportunities, believes Lombard Odier’s Frédéric Rochat

Entrepreneurs with a global outlook place huge importance on the relationships they build with private bankers, claims Credit Suisse’s Claudio de Sanctis

While the City of London comes to terms with the potential impact of Brexit, other centres sense a chance to expand their own financial services industries. But Swiss stalwarts Zurich and Geneva still have much to offer

Private banks may talk a good game about how they are transforming themselves, but most are really only repackaging existing services. A much more significant change is required, in areas such as ESG investing and in the digital arena, if they are to engage with a new generation of clients