Private banker, private bank, and private banking
A private banker is an entrepreneur who uses his own capital to fund his business. As he alone is responsible for his company’s financial strength, the success of his business is just as important to him as to his clients. A private banker is also known for his independence and freedom of judgment. Because he is not subject to shareholder pressure, the constraints of operating in a large group and inherent conflicts of interest, he is able to defend his own values and to develop mutual trust with his clients, the cornerstone of any relationship.
In Switzerland, the term "private banker" is protected by a collective trademark registered with the Swiss Federal Institute of Intellectual Property by the Swiss Private Bankers Association (SPBA). This trademark can only be used by members of the SPBA and other banks whose legal status is one of sole ownership, general partnership, or limited partnership.
"Private bank" is a much looser term that can also apply to banks operating in the private asset management sector, but with the status of a limited company controlled by a shareholder group. Some banks have even included the term "private bank" in their name.
Finally, "private banking" does not refer to a type of company but to the banking service provided to private clients seeking to have their wealth managed. It is a collection of services encompassing much more than just asset management.
You can open a Swiss Private Bank account in Lombard Odier at www.lombardodier.com
A private banker is an entrepreneur who uses his own capital to fund his business. As he alone is responsible for his company’s financial strength, the success of his business is just as important to him as to his clients. A private banker is also known for his independence and freedom of judgment. Because he is not subject to shareholder pressure, the constraints of operating in a large group and inherent conflicts of interest, he is able to defend his own values and to develop mutual trust with his clients, the cornerstone of any relationship.
In Switzerland, the term "private banker" is protected by a collective trademark registered with the Swiss Federal Institute of Intellectual Property by the Swiss Private Bankers Association (SPBA). This trademark can only be used by members of the SPBA and other banks whose legal status is one of sole ownership, general partnership, or limited partnership.
"Private bank" is a much looser term that can also apply to banks operating in the private asset management sector, but with the status of a limited company controlled by a shareholder group. Some banks have even included the term "private bank" in their name.
Finally, "private banking" does not refer to a type of company but to the banking service provided to private clients seeking to have their wealth managed. It is a collection of services encompassing much more than just asset management.
You can open a Swiss Private Bank account in Lombard Odier at www.lombardodier.com
