Private banking

Private banking is banking, investment and other financial services provided by banks to high-net-worth individuals with high levels of income or invest sizable assets. The term "private" refers to customer service rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. It does not refer to a private bank, which is a non-incorporated banking institution.

Private banking forms a more exclusive (for the especially affluent) subset of wealth management. At least until recently, it largely consisted of banking services (deposit taking and payments), discretionary asset management, brokerage, limited tax advisory services and some basic concierge-type services, offered by a single designated relationship manager.

Overview

Private banking is the way banking originated. The first banks in Venice were focused on managing personal finance for wealthy families. Private banks became known as ‘Private’ to stand out from the retail banking & savings banks aimed at the new middle class. Traditionally, private banks were linked to families for several generations. They often advised and performed all financial & banking services for families. Historically, private banking has developed in Europe (see the List of private banks). Some banks in Europe are known for managing assets of some royal families. The assets of the Princely Family of Liechtenstein are managed by LGT Group (founded in 1920 and originally known as The Liechtenstein Global Trust). The assets of the Dutch royal family are managed by MeesPierson (founded in 1720). The assets of the British Royal Family are managed by Coutts (founded in 1692).

Private

Private may refer to:

Privates redirects here and may refer to:

See also

Wealth management

Wealth management as an investment-advisory discipline incorporates financial planning, investment portfolio management and a number of aggregated financial services. High-net-worth individuals (HNWIs), small-business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management. Wealth managers can have backgrounds as independent Chartered Financial Consultants, Certified Financial Planners or Chartered Financial Analysts (in the USA), Chartered Strategic Wealth Professionals (in Canada),Chartered Financial Planners (in the UK), or any credentialed (such as MBA) professional money managers who work to enhance the income, growth and tax-favored treatment of long-term investors.

Private wealth management

Private wealth management is delivered to high-net-worth investors. Generally this includes advice on the use of various estate planning vehicles, business-succession or stock-option planning, and the occasional use of hedging derivatives for large blocks of stock.

Global

Global means of or referring to a globe and may also refer to:

Entertainment

Companies and brands

Award

An award is something given to a person, a group of people, or an organization to recognize their excellence in a certain field; a certificate of excellence. Awards are often signified by trophies, titles, certificates, commemorative plaques, medals, badges, pins, or ribbons. An award may carry a monetary prize given to the recipient; for example, the Nobel Prize for contributions to society or the Pulitzer Prize for literary achievements. An award may also simply be a public acknowledgment of excellence, without any tangible token or prize.

Overview

Awards can be given by any person or institution, although the prestige of an award usually depends on the status of the awarder. Usually, awards are given by an organization of some sort, or by the office of an official within an organization or government. For instance, a special presidential citation (as given by the President of the United States) is a public announcement giving an official place of honor (e.g., President Ronald Reagan gave a special presidential citation in 1984 to the Disney Channel for its excellent children's television programming.)