Private Banking: Building a Culture of Excellence


Praise for Private Banking

"This book is a must-read for a new generation of CEOs in the private banking industry. Boris Collardi was catapulted into the role of the CEO of a company with a strong tradition as a formerly family-run business. In this role, he forcefully developed the ever more important footprint in the emerging markets. He also addressed the constantly changing services and product needs of the clients and all this in the midst of a prolonged financial crisis and an increasing regulatory push with which the industry had to cope.

"The various chapters of this book give firsthand insight into why he was successful in managing this tremendous amount of change in a very complex environment. Being truly multicultural and having a strong sense of empathic leadership helped him in pulling through."
—Raymond J. Baer, Honorary Chairman, Julius Baer Group Ltd.

"Private Banking is just the best available high-class textbook for designing and implementing sophisticated business strategies in the private bank or wealth management institution. It is aimed at both business experts and banking students. Like no other textbook I know, it provides food for thought as well as practical decision support for the design of private banking business strategies in today's extremely challenging business environment. The author, CEO of one of the most famous Swiss private banks, highly succeeds in sketching a precisely defined and excellently written framework for excellence in world class private banking."
—Beat Bernet, Professor of Banking, University of St. Gallen, Switzerland and former president/board member of stock listed banks

"Swiss private bankers seldom lift the lid on their calling before the end of their careers, so Boris Collardi's candour is to be welcomed. The Chief Executive of Bank Julius Baer provides a behind-the-scenes glimpse of what makes a Swiss private bank tick and the factors influencing key decisions amid massive shifts in the business. That he does not reveal more is explained by Mr. Collardi's continuing responsibilities. But what he does provide is a comprehensive discussion of the success factors for a private bank today."
—Haig Simonian, Switzerland & Austria correspondent, Financial Times

"This is a book written with passion by an incumbent Chief Executive Officer managing a large Swiss private bank looking at issues from a global perspective. Based on his personal experience of transforming Bank Julius Baer, author Boris Collardi offers a practical framework for achieving excellence in private banking. The book contains his profound views on the formulation and implementation of private banking strategies that meet the challenges of the industry. I recommend this book to all aspiring and seasoned wealth managers who would gain invaluable insights into the perplexing issues of managing a private bank in the current difficult banking environment."
Professor Francis Koh, PhD, Deputy Dean, Lee Kong Chian School of Business, Singapore Management University

"With Private Banking, this is the first time we have a book that covers the entire private banking value chain. Boris Collardi does an excellent job explaining the challenges of our industry and providing suggestions by using both his personal CEO experience and some of the most insightful studies analysing our industry. This book is very well structured and can be useful to anybody interested in the private banking industry—from the young university graduate to the seasoned banker."
—Patrick Odier, Chairman, Swiss Banking Association

BORIS F.J. COLLARDI is Chief Executive Officer of Julius Baer Group Ltd., the leading pure-play private banking group, based in Switzerland. He oversees all operational issues on both a national and international scale. Before joining Julius Baer in 2006, Collardi spent twelve years with Credit Suisse and contributed significantly to its successful build-up and the expansion of its private banking business in both Europe and Asia. During his years with Credit Suisse, he attained the positions of chief financial officer and head of the corporate centre within CS Private Banking. Collardi combines extensive leadership experience with proven expertise in the successful implementation of ambitious strategic projects. His international work experience stems from six years spent in Asia and the UK.

Preface ix

Acknowledgments xv

CHAPTER 1 A Framework for Excellence in Private Banking 1

CHAPTER 2 What Is Driving Private Banking? 7

CHAPTER 3 Finding the Right Organisation and Operational Strategy 23

CHAPTER 4 Forces Shaping the Regulatory Environment 45

CHAPTER 5 Putting Clients at the Centre 63

CHAPTER 6 Beyond Products--Offering Tailored Solutions 91
By Guido Ruoss

CHAPTER 7 Why Brand Matters 123

CHAPTER 8 Delivering a Superior Client Experience 145

CHAPTER 9 Understanding Service Excellence 165

CHAPTER 10 Winning the War for Talent 187

CHAPTER 11 Defining and Growing Leadership and Culture 215

CHAPTER 12 Measuring and Managing Performance 233

About the Author 255

Index 257