the future of swiss private banking

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  • The Future of Swiss Private Banking

    Turning regulation into value

    Media Conference16 April 2015

  • 1 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Agenda

    10:00 Welcome Andreas HammerHead of Corporate Communications, KPMG Switzerland

    10:05 Introduction Philipp RickertHead of Financial Services and Member of the Executive Committee, KPMG Switzerland

    Study Results Prof. Dr. Dr. Tomi LaamanenChair of Strategic Management, Institute of Management, University St.Gallen (HSG)

    Hans StammAudit Financial Services, KPMG Switzerland

    Key messages Philipp RickertHead of Financial Services and Member of the Executive Committee, KPMG Switzerland

    11:30 Lunch

  • Introduction

    Philipp Rickert

    Head of Financial Services and Member of theExecutive Committee, KPMG Switzerland

  • 3 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    KPMG Private Banking Thought Leadership over the past 5 years

    2009 2010 2012 2013 2014 2015

    Private Banking Report

    (Performance)

    Private Banking Survey (Future)

  • 4 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Transnational regulation ensures an international level playing field and restore the industrys reputation.

    Wealth of transnational regulation

  • Presentation study results

    Philipp RickertHead of Financial Services, KPMG Switzerland

    Prof. Dr. Dr. Tomi LaamanenChair of Strategic Management, Institute of Management, Universitt St. Gallen (HSG)

    Hans Stamm Audit Financial Services, KPMG Switzerland

  • Restoring trust and securing Swiss banking preeminence

  • 7 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Transnational regulation enhances the competitiveness of Swiss banks

    Adopt a united voice and shape a common agenda between Swiss authorities, FINMA, and the banking industry

    Participate proactively in creating transnational regulation Ensure reciprocity of market access Ensure strict supervision and controls when introducing transnational regulation to secure an

    international level playing field

  • 8 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Regulation is necessary to protect client assets and restore trust

    Regulation must protect the trusted relationship between banks and their clients Regulation is seen to provide transparency and help clients decide on product and services Regulation is not considered to improve clients satisfaction

  • 9 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    An appropriate and principle based regulatory approach is necessary

    Principle based approach for implementation: regulators decide what should be regulated banks decide how it should be implemented

    Ensure early and proactive involvement of banks with authorities to create / adopt meaningful regulations

  • Banks strategy and business models

  • 11 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Rethink your business model to realize efficiencies and pursue growth.

    Regulation requires to sharpen the strategic positioning

    Cantonal banks (CB): higher industrialization enabled by retail banking operations

    Pure private banks: Pure differentiation

    strategy (PB1) Client based

    differentiation & technological differentiation (PB2)

    Global private banks (GPB): combine operating scale, technology and differentiation

  • 12 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Smaller banks will increasingly become niche players

    Minimum size of a bank will increase due to regulation Focus activities on core markets also for larger banks Consider collaborations and outsourcing of non-core activities

  • Operational Excellence

  • 14 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Digitalizing operations leads to increased efficiency

    Client expect private banks to provide the same level of digital technologies as retail banks Assess the advantages of being a first mover vs. taking time to see what technologies are

    successful Consider joining forces with technology providers to co-create solutions

  • 15 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Big Data is needed to be compliant

    Collect structured data to enhance the effectiveness of clients targeting Provide better-tailored offerings to clients thanks to additional data Bring expert from another industry to improve segmentation, use and analysis of client data

  • 16 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    BoD and Management have a crucial role in implementing regulation

    Define at BoD level the implementation strategy and principles Consider the skill sets and expertise needed by the BoD to supervise regulation implementation

    and sustainable compliance Help Relationship Manager understand and comply with regulation

  • Improved Customer Relationship Management

  • 18 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Communication is becoming more frequent and intensive

    Ask clients how they want to communicate and build specific clusters (face to face and/or electronic)

    Provide RM with electronic devices such as tablets to enable simulate portfolios outcomes Develop usage of social media channels for general information purposes

  • 19 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

    Relationship Manager role and profile is changing fundamentally

    Make the RM the clients mini family officer and sparring partner Free up RM time to spend more time with clients and on service quality and delegate work to

    specialists Ensure RM incentivization is in line with the banks strategy and culture

  • Key messages

    Philipp Rickert

    Head of Financial Services and Member of theExecutive Committee, KPMG Switzerland

  • 21 2015 KPMG AG/SA, a Swiss corporation, is a subsidiary of KPMG Holding AG/SA, which is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (KPMG International), a Swiss legal entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks.

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