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PRIVATE banking is meant to be boring.
The cantonal banks sell private banking services.
It bought firms specialising in private banking and institutional research.
The same applies to the private banking sector, it said.
JPM is formidable in global investment banking and private banking.
Worldwide, private banking accounts for about 3% of Citigroup's profits.
Private banking facilities can also provide significant cachet.
The ice in the private banking industry is clearly breaking.
Mr. Shafir, the current head of asset management, will oversee private banking and wealth management products and look after private banking in the Americas.
It now attracts sophisticated global players and involves much more than murky private banking.
He is in the private banking division, working with clients and brokers.
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