Pillar I, Strategy & Power Structures
The economics of scale vs boutique models: distribution, operating leverage, product depth, and what actually compounds over time.
Pinned
Highest engagement (then recency).
Last month I had three separate conversations with senior private bankers who asked some version of the same question: should I just go independent? The EAM model is not a new concept. What is new is how often the question comes up.
Most engaged
Family offices are no longer discreet satellites of private banks. They are becoming competing ecosystems. The growth is structural, and it is reshaping mandates, talent, and how UHNW clients allocate capital globally.
The interest rate windfall that let mediocre Swiss private banks look profitable for three years has disappeared, and fee income has not filled the gap. The banks actively hiring fee-generating relationship managers right now, not just cutting costs, are the ones positioning to win the next three years.
Why size is the wrong lens on Swiss private banking consolidation, and why the number that has taken on almost mythological status in the market is causing good bankers to make bad career decisions.
Articles
Sorted by recency (best for discovery + freshness).
The interest rate windfall that let mediocre Swiss private banks look profitable for three years has disappeared, and fee income has not filled the gap. The banks actively hiring fee-generating relationship managers right now, not just cutting costs, are the ones positioning to win the next three years.
Why size is the wrong lens on Swiss private banking consolidation, and why the number that has taken on almost mythological status in the market is causing good bankers to make bad career decisions.
Last month I had three separate conversations with senior private bankers who asked some version of the same question: should I just go independent? The EAM model is not a new concept. What is new is how often the question comes up.
Family offices are no longer discreet satellites of private banks. They are becoming competing ecosystems. The growth is structural, and it is reshaping mandates, talent, and how UHNW clients allocate capital globally.