A wave of consolidation and a focus on digital technology have breathed new life into a Spanish banking sector which was left reeling by the financial crisis

Whereas Luxembourg was once seen as a tax haven for mass affluent individuals, changes in the regulatory landscape have led the Grand Duchy to raise the bar on the type of clients it attracts

International mobility among wealthy individuals has become much more prevalent in recent years, making succession planning more complex

Increased transparency is likely to encourage the rich to seek out safer jurisdictions offering wealth protection 

Wealth managers have struggled with digital engagement but must raise their game if they are to meet the expectations of an upcoming youthful cohort of potential clients

If done properly, open architecture can enhance the choice available to clients and bring value, believes Lombard Odier’s Laurent Auchlin, adding the Swiss bank has plans to boost assets it delegates to sub-advisers

What strategies should private banks be following to harness opportunities in a buoyant but unpredictable wealth management business? 

Digital developments have made the process of signing up new clients much more efficient but banks must ensure they continue to establish a relationship from the outset