New trends emerging

The structure of private banking groups, the new wealth and the relationships with clients have emerged as the headline issue of the recent AiC Private Banking con-ference.

The structure of private banking groups, the new wealth and the relationships with clients have emerged as the headline issue of the recent AiC Private Banking con-ference.

ANZ Private Banking director John Eggleshaw says the rapidly growing nature of private banking has shifted the key focus to model structure.

“ANZ like the National Australia bank, is in a faster growing area of the private banking sector. Our model, which is similar to the National’s is focused on wealth management. There is a rapid growth in young and very wealthy people. It is an exciting time for us all,” he says.

Macquarie head of private banking Christine Buckland says client relationships and needs are Macquarie’s top priority in the private banking sector, as well as providing quality services.

“What we need to focus more on as an industry is the people Our clients. At Mac-quarie are very aware of e-commerce and of keeping the level of services consis-tent,” she says.

“We are continuing to strive for better delivery of services for our clients.

But our main focus is on the recruiting of top professionals and keeping them multi-skilled in providing skills to our clients.”

Potter Warburg senior adviser Ken Cappie-Wood gave an overall view of issues involving the private banking sector, making comment on Macquarie’s stance.

“I am surprised by Macquarie’s ability to comment on the relationship of clients, the right services and the right advice. The market is changing dramatically, and we have to be aware of the changes,” he says.