Private Banking / Wealth Management

The world of private banking has been in constant change for the last few years and is facing a whole new reality. Major regulatory changes, higher price sensitivity among clients, and the entry of automated investment providers are buffeting the industry. All those factors, along with persistently low interest rates, put immense pressure on private banks’ business models.

Simon-Kucher has extensive project experiences in private banking. We possess comprehensive knowledge of all major private banking hubs around the globe. As a result, our clients come to us because we have not only an inside-out perspective (e.g. to be compliant from a regulatory point of view). We also have an outside-in view – one that considers the behavior and needs of their clients. This expertise helps us achieve sustainable revenue and profit increases for our clients, with minimal client churn.

Our specialized private banking team is located in different offices around the globe. They have leading expertise in such areas as:

• Pricing assessments and opportunity reviews through a 360° analysis (including identifying quick-wins)
• Segment-specific value, price and selling strategy
• Design/redesign of offerings (e.g., new concepts for advisory mandates) and pricing landscapes
• Rolling out new solutions, prices and processes
• Designing sales tools/software for client migration process and price/profitability management
• Improve discounting policies, approval processes and efficiency

We help clients develop smart offerings and strategies, as well as implement them.

Digitization is dramatically changing the private banking business model. Simon-Kucher developed PricePro, a price management software tailored to the needs of private banks. It allows well-guided client transition and re-pricing processes, and facilitates efficient, continuous profitability management. The core is a price/discount controlling system for bankers and their top management.