Events since 2007 suggest modern portfolio theory is no longer relevant, though some in the wealth management industry are slow to change, leading to losses for private clients

Switzerland’s private banks have been trying to remodel themselves but the HSBC affair is the latest in a series of setbacks proving they still have a long way to go

The profitability of Swiss private banks will be hit by the SNB’s withdrawal of the currency ceiling and could speed up the shift of some operations overseas 

As global banks struggle with damaged reputations, smaller investment firms sense an opportunity to win market share and the recent M&A activity could be a sign of things to come

Only the biggest players have the reach and technological innovation necessary to compete on a global scale, but a deeper understanding of client needs is necessary

The impact of Russia’s actions in Ukraine has been felt far beyond those countries’ borders, and the consequences for European countries could be huge if the situation worsens

Europe’s wealthiest individuals are demanding relationships with private banks be run on their terms, but not all firms have embraced this new reality

A period of consolidation is underway as banks refocus efforts on their most profitable markets