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Article: Piggy bank plus: What exactly is wealth management, how did it emerge and who needs the services of a wealth manager? Dr. Harry Hurzeler, Dean of the Swiss Banking School, provides some answers.
- Article from:
- Swiss News
- Article date:
- October 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Swiss News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Today, banking has expanded and diversified into many specialized services--one of them being that of private banking. Once a quiet discreet service, private banking has now become a highly dynamic and competitive business that takes more than just the factual knowledge of numbers and investment opportunities into consideration.
What is It?
"In Switzerland," says Dr. Harry Hurzeler of Swiss Banking School, "wealth management is synonymous with private banking. Typically, private banking will advise people with a liquid wealth of over one million--Swiss francs, dollars or euro--not all necessarily kept in one bank. The banks call such people high net ...