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Private banking: investor confidence diminishes

07-07-2009 04:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: EUROFORUM Schweiz AG

8th Private Banking Summit, 1-3 September 2009, Renaissance Zurich Hotel

• Top decision-makers discuss the latest developments
• Banking confidentiality and the double taxation agreement - how to proceed?
• Better training for customer service representatives

Zurich/Düsseldorf, 7th, July 2009. Against a backdrop of rapid changes in the private banking environment, some of the most important decision-makers in the world of international private banking will be discussing strategies for the future in Zurich. There are certainly enough challenges: according to the latest World Wealth Report from Merrill Lynch and Cap Gemini, the financial crisis has strongly reduced the number of millionaires in the world. Increasing numbers of these are dissatisfied with their banks. Regulatory changes, including the relaxation of banking confidentiality, require new adjustments on the part of banks. And the strong correlation of the financial markets during the crisis, as well as bankruptcy and fraud cases, have made obtaining good investment yields even more difficult.

How can customer confidence in the banks be re-established? Which role do differentiation and a strong brand play in the fight for customers? Onshore versus offshore, local versus global - which strategies are currently sensible? These and other questions will be examined at the 8th Private Banking Summit (1-3 September 2009, Zurich) by some 150 participants. Over 30 international decision-makers, including Walter Berchtold (Credit Suisse), Boris Collardi (Julius Baer) and Pierre de Weck (Deutsche Bank) will lecture at the English-language conference, on the challenges facing the European and global private banking market. The programme can be viewed on the Internet at

Banking confidentiality and the double taxation agreement
Further highlights of the conference include the effects of modifications to banking confidentiality, as well as the new double taxation agreement, currently being elaborated by Switzerland and Luxembourg. Dr. Konrad Hummler (Partner, Wegelin & Co. and Chairmen of the Swiss Association of Private Bankers) and Charles Hamer (Chief Executive Officer, Crédit Agricole Luxembourg and Chairman of the Luxembourg Private Banking Group) will discuss these changes. Dr. Rudolf Stahl (CEO and Partner at Bank Gutmann, Vienna) and Beat R. Sigg (Executive Board Member of the hotel group of Victoria Jungfrau) will lecture on important aspects of customer service.

Dr. Harry Hürzeler (Chairman of the Board of the Swiss Finance Institute) will critically address the topic: Are customer service representatives even trained properly? Topics from developing countries will also be focused on at the conference. From the standpoint of a multi-family office, Andrew Nolan (Executive Director and Head of Private Clients, Stonehage Group, Zurich) will explain various governance problems caused by the financial crisis in wealthy families. A discussion panel will dedicate itself to the effects of nationalisation in the financial sector that has recently taken place.

Asset management and asset protection
The post-conference day on 3 September will be devoted to the topic "Asset Management and Asset Protection". Business models in asset management will be covered, as well as the consequences of the Lehman bankruptcy and the Madoff fraud case, investment possibilities in times of high correlation, and the question of how Swiss banks can be held accountable for assisting German customers in avoiding tax payments.

Claudia Büttner
Director Press/Internet
Prinzenallee 3
40549 Düsseldorf

In Europe, the name EUROFORUM stands for high-quality conferences, seminars and workshops. Selected lecturers with practical experience report on current topics from the worlds of finance, science and administration. Furthermore, we offer executive managers a first-class forum for the exchange of information and experiences. EUROFORUM Schweiz AG is part of the internationally active Informa Group.

Informa plc, with headquarters in London, annually organises and plans over 12,000 events around the world. In addition, Informa has an extensive portfolio of publications for the academic, scientific and financial markets. Informa is active in over 80 countries and employs more than 10,000 staff members.

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