Because of the current Wealth Management Summit organized by Reuters we are temporarily increasing our posting frequency. Below you can find a second set of selected video interviews provided by Reuters directly from the Summit, which is taking place around the world.

Sebastian Dovey, Head of Consulting, Scorpio Partnership

There are not enough staff to capture all the money that is out there, according to advisors to the wealth management industry. The shortage could lead to firms losing clients who might put their money into retail banks or other investment vehicles. Sebastian Dovey, Scorpio’s Head of Consulting, says private banks have to invest in effective long-term staff training.

Brian Moynihan, President, Global Wealth and Investment Management, Bank of America

Bank of America calls itself the ”bank of opportunity.” But can a bank known for its mass market appeal transmit the image necessary to beef up it’s wealth management division? With the purchase of U.S. Trust and a newly launched ad campaign Bank of America seems to think so.

Reinhard Krafft, Head of Private Banking, Sal. Oppenheim

Wealth management firm Sal. Oppenheim says winning new clients for its private banking business is all about building relationships.
The company, which requires investors to have a minimum of 10 million euros in assets, wins clients on a one-on-one basis as well as through already established investment banking relationships. Reinhard Krafft, the Head of Private Banking, says they not need a lot of clients, just the right ones.

Kenneth Sit, CEO, Sarasin Rabo Investment Management

Robust wealth creation in Asia has meant significant growth opportunities for Sarasin Rabo Investment Management. Kenneth Sit, Sarasin Rabo Investment Management CEO, speaking at Reuters Wealth Management Summit in Hong Kong on Tuesday, says the group also plans to target and further expand its NRI (Non-Resident Indian) business in order to capitalise on the growing numbers of high net-worth Indians living overseas.

Bernard Coucke Deputy Global CEO, ING Private Banking

ING, one of Europe’s top banking and insurance groups says, “the premium that has to be paid for acquiring a bank is too high and so we are not playing that game at the moment but we are looking and if there is an opportunity we will take it.” Bernard Coucke, speaking at the Reuters Wealth Management Summit in Geneva on Wednesday says, ING’s private banking group is “growing faster than the market”.

Gregory Patrick, Founder, DreamMaker International

In a business that rarely takes requests, niche luxury travel consultant Gregory Patrick spends hours getting to know clients to arrange what he terms dream experiences. From having Laura Gucci take you shopping, to a personal all-night party with Sting, to audience with royalty, his clients look for something to take their travel experience over the top. Patrick’s company, DreamMaker International has made its quest to serve a missing element for the travel dollar.

Mark Cunningham, Managing Director, Bank of Ireland Private Banking

The head of Bank of Ireland’s private banking unit says he sees opportunities for growth in the wealth management arena because the sector “tends to be very fragmented.” Mark Cunningham, speaking at the Reuters Wealth Management Summit in Geneva on Monday, says “we believe there is lots of opportunity” to expand Bank of Ireland’s presence in the United Kingdom and further abroad.

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