What is a private bank?
Private banks are central in the financial planning of many individuals, namely individuals who hold considerable personal assets. Wealth and investment management services are the main offerings but a private bank can also offer the same services as any high-street bank, such as personal and corporate accounts, gold status Visa cards, loans and foreign exchange, whilst maintaining client confidentiality at all times. As a client of Fairbairn Private Bank your requirements are looked after by knowledgeable and dedicated staff, whose relationship with you is paramount to the bank’s service offering.
Private banks were not incorporated historically, which meant that the entirety of their partners’ assets was available to meet the liabilities of the bank. However, most have subsequently become incorporated companies, so the term is rarely strictly true anymore. These Private Banks have a very long tradition in Switzerland, dating back to at least 1685 when the Edict of Nantes was revoked. They are primarily associated with portfolio management for private clients. Today, the term “private banking” is used more loosely to encompass all the banking services provided to clients in the area of portfolio and other wealth management services. These services are directed primarily at “high net-worth individuals” and there are a number of “Private Banks” who refuse any account of less than $1 million or the equivalent. At the end of 2007, AUM in Switzerland (securities holdings in bank custody accounts) reached CHF 5.4 trillion, which is more than ten times the Swiss GDP. Due to the bear ma
Private banks are central in the financial planning of many individuals, namely individuals who hold considerable personal assets. Wealth and investment management services are the main offerings but a private bank can also offer the same services as any high-street bank, such as personal and corporate accounts, gold status Visa cards, loans and foreign exchange, whilst maintaining client confidentiality at all times. As a client of Fairbairn Private Bank your requirements are looked after by knowledgeable and dedicated staff, whose relationship with you is paramount to the bank’s service offering.
