Private banking is a fast paced environment, thus professionals in this sector cannot afford to miss out on the current changes. This Euromoney Training course sets out to inform delegates on the most up-to-date practices from all perspectives. The programme will commence by examining the main stakeholders in this environment, the client and his expectations. Moving forward to discuss asset allocation as a powerful generator of client's loyalty. Finally we discuss the decision process necessary to open a subsidiary in a new country.

How will the course assist you?

This course will include

• The best practice of Private Banking, including asset allocation and estate planning.
• Management skills to profitably run a Private Banking business.
• The experience shared by a Swiss Private Banker.
• The opportunity to network and discuss Private Banking with peers from all over Europe / the world.
• The most current information on the Private Banking industry.

Who should attend

• Private Bankers
• Wealth Managers
• Relationship Managers
• Family Office Managers
• Investment Managers
• Trust Managers
• Department Heads

Why not recommend this course to a colleague?

Past Clients include:

• Arab Bank Plc
• Banco Santander
• Bank Hapoalim
• Bank of Valetta
• Banque Generale du Luxembourg
• BNP Paribas
• Finansbank (Suisse)
• La Caixa
• Lloyds TSB Bank
• Nordea
• PASHA Bank
• Türkiye İş Bankası

 

 

Day 1

Registration commences at 8:30
Programme runs from 9:00 - 5:00 daily

The Private Banking World Today

• Where are we?
• Where is the industry going?
• Discussion: How to get there.

Who is Mr HNWI?

• KYC.
• Legal and regulatory requirements.
• Additional needs.

Group Work: The perfect client profiling.

Private Client Needs Analysis

• Daily needs.
• CLEWI.
• Business.
• Future needs.
• Retirement planning.
• Life-long investing.

Case Study: A prospective client analysis.

Risks and Returns

• The risks.
• An uncertain outcome.
• Risk aversion.
• The returns.
• Expected returns.
• Relative vs. absolute returns.

Case Study: Clients’ risk aversion analysis.

Cultural Differences

• Regional differences.
• The religion element.
• Ethical considerations.
• Do’s and dont's.

Some Video Examples of Cultural Differences.

Day 2

Asset Allocation for Private Clients

A case study will follow throughout the entire day.

The Process of Asset Allocation

• What is asset allocation?
• Why is it needed?
• What to put in a portfolio pricing.
• Decisions and basis point assumptions.
• Review of the various investment vehicles.

The Diversification Effect

• Portfolio risk and return.
• Specific vs. systemic risk.
• The efficient frontier.
• Rewarding the risk: Sharpe ratio.

The Investment World

• Top-down approach.
• Cycles.
• Emerging markets.
• Foreign exchanges.

The Investment Process

• Specifying objectives.
• Specifying constraints.
• Formulating a policy.
• Monitoring and updating the portfolio.

Rebalancing

• Active vs. passive portfolio management.
• Benchmarking issues.
• Market timing.
• Sectors rotating.
• Asset allocation vs. security selection.

Formulating the Offer

• Meeting the client needs.
• Dealing with investment restrictions.
• Abiding to local regulations.
• Pricing issues.

Day 3

Estate Planning Needs and Tools

• What is Estate Planning?
• Wealth analysis.
• Geographical and legal constraints.
• Wealth transmission.
• Tax optimisation.
• Retirement planning.
• Constraints management.

Trusts

• What is it?
• Jurisdictions.
• Legal issues.
• Documents.

Family Foundations

• What is it?
• Jurisdictions.
• Legal issues.
• Documents.

Guest Speaker Presentation

International Estate Planning

• What laws govern devolution of deceased's assets?
• Where are beneficiaries resident?
• Conflict of laws issues.
• Tax effective lifetime gifts vs. devolution on death.
• Estate tax treaties.

Paul Stibbard,
Head of Private Clients,
Baker & McKenzie LLP.

Other Tools and their Weaknesses

• The will.
• Offshore companies.
• Local instruments for local purposes.
• Dealing with non-financial assets.

The Offering

• What is the best mix?
• The domicile of the client.
• Tax issues.
• Ethical considerations.
• The pricing.

Day 4

Private Wealth Management Products

The Full Offer

• Onshore vs. offshore.
• Additional services to be delivered.
• In-house or sub-contracted.
• Regulatory aspects.

Alternative Investments

• Commodities.
• Real estate.
• Private equity.
• Hedge funds.

Case Study: Alternative investments using current financial products.

Guest Speaker Presentation:
Hedge Fund Investments

• Introduction to hedge funds
• Why add hedge funds to your portfolio?
• Hedge fund downsides
• Funds of hedge funds

 Chris Jones, Chief Investment Officer,
Key Asset Management

 Structured Products

• Current situation.
• Capital guaranteed products.
• Yield enhancement products.
• Participation products.

Case Study: Structured products investments using current financial products.

Managing and Retaining the Client

• Managing the client’s expectations.
• Setting up the frame.
• Dealing with the shortfalls.
• How to deliver a bad news.

Role Game: Managing and Retaining the Client.

Managing the Private Wealth Management Team

• Objectives.
• Incentives.
• The first 18 months.
• The shortfalls and the successes.

Day 5

Business Development: Offering Private Wealth Management Products in a New Area

A case study will follow throughout the entire day.

Opportunity Analysis

• Market expectations.
• Strategic implications for the bank.
• Legal and regulatory constraints.
• Competition.

Right Structure for the Offshore Approach

• Existing resources or hiring.
• Skills-gap analysis.
• Evaluating the candidates.
• Evaluating the business development potential.

Local Office Option

• The structure.
• Legal and regulatory constraints.
• Marginal costs and revenues.
• Taxes.

Business Plan

• What should be in?
• What are the limits of business planning?
• The human bias...

The Decision

• SWOT.
• PEST.
• Image management.
• Other factors.

Group Discussion: How can delegates implement what they learned during the course upon return to the office?

Summary and Close

 

 

• Francois Aubert

  François E. Aubert is an independent private banker, consultant, business coach, speaker, trainer in over 20 countries on a wide number of topics and lecturer at Trinity College Dublin. François is also CFA Institute Approved Speaker and a member of the Board of Regents of the Financial Analyst Seminar. His extensive knowledge of the banking world, and more particularly of the private wealth management industry comes from over 20 years in the banking business and from working with an array of senior bankers from all around the world he advised, trained and/or coached. He holds an MBA from the Heriot- Watt University in Edinburgh and is a Certified Financial Analyst and Portfolio Manager (AZEK/CFPI), a NLP practitioner and a PADI Divemaster.

• Speaker: Paul Stibbard

  Head of Private Clients
  Baker & McKenzie LLP

  Paul Stibbard is joint head of the Wealth Management Department in the London office and is also on the Firm's Global Wealth Management Steering Committee. He has extensive experience in a wide range of cross-border tax and trust related matters. He is listed as one of the top six leading practitioners in London in Trusts and Personal Tax by Chambers UK and Chambers Global. He was also awarded a Lifetime Achievement Award in 2008 by Citywealth. Paul is a frequent speaker at external conferences, and he regularly contributes to professional journals. He serves as editor of the international edition of the Firm’s Private Banking Newsletter, and is a member of STEP’s International Committee and an academician of the International Academy of Estate and Tax Law.

• Speaker: Chris Jones

  Head of Alternatives
  bfinance
  
  Chris has been investing in hedge funds in a professional capacity since 1994 and managing funds since 1999. Prior to this, he worked in broader trading and asset management capacities. Chris has published numerous papers on trading and risk management and a book on hedge funds of funds, published by Wiley. He is a Fellow of the Judge Business School at the University of Cambridge, where he lectures on hedge funds. Chris has a BA in Mathematics from Oxford University and a Ph.D. in Mathematics and Finance from the University of Cambridge.

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