Global Private Banking and Wealth Management: The New Realities (The Wiley Finance Series) [Hardcover]

David Maude (Author)

Book Description

Publication Date: August 31, 2006 | ISBN-10: 0470854219 | ISBN-13: 978-0470854211 | Edition: 1

Wealth management is one of the areas in which banks and other personal financial services players are investing heavily. But the market is changing fast. Going forward, players therefore need to adapt their strategies to the new realities: what worked in the past will not, for the most part, be appropriate in the future. This unique book, written by a former McKinsey consultant, offers an up-to-date, detailed, practical understanding of this exciting area of financial services.

Editorial Reviews

From the Inside Flap

Global Private Banking and Wealth Management.

"David Maude has written a fascinating and comprehensive overview of private banking which will be of great interest to practitioners, clients and students." - Dr. Alex W. Widmer, Chief Executive, Officer, Private Banking, Julius Baer

"The essence of private banking has not changed for hundreds of years, but the global environment in which we operate and the tools at our disposal are evolving at an unprecedented rate. This book is welcome for providing a remarkably thorough, detailed and accurate overview of the industry and the issues it presently faces." - Alexander Hoare, chief Executive, C Hoare & Co

"David Maude has produced a powerful analysis of the wealth management market. At a time when the industry is evolving rapidly and facing numerous challenges, this book will be particularly relevant and helpful to private banking professionals around the globe."- Francois Debiesse, Chief Executive Officer, BNP Paribas Private Bank

"A Comprehensive guide to the wealth management industry in terms of development, the current economic and competitive landscape, and future areas of growth." - Bryan Henning, Global Product Head, Wealth Management, Standard Chartered Bank

From the Back Cover

Wealth management is one of the areas in which banks and other personal financial services players are investing heavily. But the market is changing fast. Going forward, players therefore need to adapt their strategies to the new realities: what worked in the past will not, for the most part, be appropriate in the future. This unique book, written by a former McKinsey consultant, offers an up-to-date, remarkably detailed, practical understanding of this exciting area of financial services.

Packed with best-practice examples and perspectives on the opportunities ahead, highlights include:

• Wealth management challenges: new and old
• The changing client profile
• New products, pricing and channels
• Competitor and business-model landscapes
• External challenges and opportunities
• Future perspective
• Wealth market analyses for 25 countries

For anyone involved in wealth management, this should be a compulsory read.

See all Editorial Reviews

Product Details

• Hardcover: 360 pages
• Publisher: Wiley; 1 edition (August 31, 2006)
• Language: English
• ISBN-10: 0470854219
• ISBN-13: 978-0470854211
• Product Dimensions: 9.7 x 6.8 x 1 inches
• Shipping Weight: 1.7 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #676,023 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

13 of 15 people found the following review helpful:

5.0 out of 5 stars Exceptionally useful book, September 6, 2006

By 

MT "Veteran" (London, UK) - See all my reviews

This review is from: Global Private Banking and Wealth Management: The New Realities (The Wiley Finance Series) (Hardcover)

Fantastic book. Genuinely global perspective and bang up to date. includes difficult-to-get data on industry economics and benchmarks, a fascinating future perspective on industry growth, and incisive analysis of a vast range of surveys and reports that I (a financial services strategy veteran) never knew existed. Very clear and well written. Invaluable for helping our organisatn develop a wealth management strategy.

4 of 5 people found the following review helpful:

2.0 out of 5 stars Flawed writing and outdated information, August 13, 2010

By 

Augusto Giachino - See all my reviews
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Amazon Verified Purchase

This review is from: Global Private Banking and Wealth Management: The New Realities (The Wiley Finance Series) (Hardcover)

I read this book in 2006, when it was published, because I am a consultant in the field it describes, and need to follow industry trends. As I review this book in 2010, it would be too easy to criticize the conclusions found here based on our 20/20 hindsight of the massive industry crisis that transpired since. Therefore, let instead me start with another aspect of the book that I found troubling at the time I read it. Unwittingly, the authors have produced an amazing demonstration of how many people within the financial industry are utterly incapable of producing readable prose. Entire sections of this book read like extended PowerPoints, complete with bullet points, with little attempt at constructing a logical flow of sentences. Acronyms are used extensively, often without definitions, which may be passable for someone who is already familiar with industry parlance, but is entirely self-defeating if the purpose is to introduce the reader to the subject matter. To make matters worse, the book averages about one misspelling or syntactical error per page, and sometimes you'll find three per page (I kid you not). This is the kind of writing that would earn you a C- in a college English class. The publishing house obviously rushed this to market with no editorial oversight and without even running it through a spellchecker.

Now, if you are willing to disregard the grammatical errors, and are already somewhat familiar with the industry, this book does serve a purpose. It provides useful information about the basic structure of the sector. But, what about the analysis of the industry's future that constitutes the all-important conclusion of the book? Here we find that the quality of the writing reflects the quality of the thinking. Overall, the authors paint a rosy picture of the future, with no inkling of the fact that the banking industry, by the time of writing, had already dug itself into the worst crisis since the Great Depression. Consequently, once the reader moves beyond the basic information to the projected sector rankings and other data, he or she will find that most of it is of little use. Many of the industry leaders extolled here have either disappeared altogether or been forced to merge. The analysis of international developments would need to be largely rewritten, because, even at the time of this writing, the global environment is evolving in dramatic ways that were not envisaged by the authors. So much for the "New Realities" in the book's subtitle.

Global Private Banking can now be read much more usefully as a historical artifact, as evidence of the optimistic, self-congratulating state of mind of the majority of financial sector managers at a critical juncture in time, than as an analysis piece. The fact that the book was really written by industry people for industry people created every disincentive to question the fundamentals of the industry, in other words, to skip the very kind of analysis that was most urgently needed.

At each level, starting with language and ending with substantive analysis, the quality of this tome is such an embarrassment that it plays right into the hands of criticisms that gained currency after the meltdown. If this is the quality of the thinking to be found in the industry that plays the central role within the economy, our industry, the public has every right to be nervous. My suggestion is that it would be nice if these individuals actually bothered to pick up some books from the literature and philosophy sections of their favorite bookseller and learned what makes writing and critical thinking work. It's not going to solve many problems in the short run, but along the way, they may also bump into the concept of civic responsibility, and find it interesting.

5 of 7 people found the following review helpful:

5.0 out of 5 stars A fantastic book, January 15, 2007

By 

Petrou (france) - See all my reviews
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This review is from: Global Private Banking and Wealth Management: The New Realities (The Wiley Finance Series) (Hardcover)

A book any banking professionnal should read to understand the stategics underlying the wealth management industrie.