The scandal involving Russian billions which has enveloped Danske Bank reinforces the need for banks to have stringent due diligence procedures in place for identifying sources of clients’ funds

There are huge opportunities in servicing families with a global footprint, from managing their assets through to educating the next generation in financial matters 

It remains difficult to differentiate between private banks and what they offer clients. In a fragmented marketplace, the rewards for those players able to get their branding strategy right could be considerable 

Carrying out a thorough due diligence check before taking on clients can help protect a private bank’s brand, but if a mistake is made, it is always best to admit it

Private banks, which tend to feel very traditional, could learn a thing or two from the luxury sector, which has managed to make itself more relevant to millennials 

Women working in financial services tend to be paid considerably less than their male counterparts and struggle to break through the glass ceiling, despite evidence showing that companies with more women in senior roles do better

Private banks have come up with a number of ways to try to boost revenues in the face of increased regulation, including adopting a more disciplined investment approach and increasing productivity through digitalisation

Private banks have increased their legal and compliance teams to deal with new regulations and the cost has led to some consolidation. But does technology offer a different solution?