TITLE

Big Bucks Banking

AUTHOR(S)
Morais, Richard C.
PUB. DATE
November 2005
SOURCE
Forbes Asia;11/28/2005, Vol. 1 Issue 8, p40
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the opportunity for several private banks to cater to millionaires. Switzerland's UBS combines investment bank and private bank strategy, where the private bank takes deposits from wealthy families and the investment bank figures how to invest it. Private bank assets at Merrill Lynch increased 10 percent while JPMorgan Chase increased 14 percent in 2004. The selling proposition of New York Private Bank & Trust is that customers pay an annual fee for portfolio management but do not pay hidden fees built into products the bank is selling, because the bank has no products to sell. INSETS: Service Is Never Out of Fashion;Gnomes on the Ropes.
ACCESSION #
20957311

 

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