AMBASSADORS OF PRIVATE BANKING
Ambassadors of Private Banking LLC (“APB”) was founded in 2017 in Zürich by two partners with over 80 years banking experience, in particular in Private Banking in Switzerland.
Based on their knowledge of the market and an in depth review of the current situation of the Swiss Private Banking scene, that shows that some 10 to 15 banks are « disappearing » one way or another each year through a consolidation process that will accelerate going forward due to:
The almost continuous financial crisis, huge regulatory pressure and recent tax changes which led to lost client assets and ever increasing fixed costs (e.g. compliance, regulations, capital requirements).
Eroding revenues (low interest environment, pressure on fees and commissions).
Several small to medium Swiss Private Banks are sub scale with limited to no ability to cope with dramatic changes including innovation in new technologies and products.
The facts that the regulator “pushes” for small banks consolidation with larger banks having sufficient challenges to face not to be interested in small deals.
Several studies that show that client assets required for a sustainable future are deemed to be in the range of CHF 20 – 30 billion.
To respond to these challenges APB has developed a unique and new business model with the aim to facilitate a smooth and progressive consolidation process of the small to medium Swiss Private Banks.
Ambassadors of Private Banking will be a consortium of existing Swiss Private Banks, grouping well established brands, while introducing a new brand (“APB”) that connects them.
On the APB platform will be all merged banks delivering banking services to their clients, each under their own brand name.
The lead (initial) bank will be the service host for all back office services and support functions for the merged banks. This process will dramatically lower operating costs.
Increased automation will drive efficient service processing within every merged institute, thereby adding value to the benefit of all stakeholders.
The APB partners, together with their Advisory Board experts, will develop the appropriate digital strategy with the technological innovations required for a sustainable, competitive and profitable future.
Product sharing between the different merged brands, together with the development of new product offerings, will increase product sales and margins.
Ambassadors of Private Banking are the first mover in preparing this business model designed to participate successfully in the Swiss Private Banking Market Consolidation.
We are the leading Swiss house for prestigious brands.
Philip Weights is the Founder & MD of Enhanced Banking Governance GmbH, a consulting firm in Switzerland and the U.A.E. Philip has over 50 years senior executive experience in the banking and financial services on a global basis with Citi, Security Pacific, Safra-Republic, HSBC, and EFG Bank.
+41 76 344 7936
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Ambassadors of Private Banking LLC
CH – 8636 WALD ZH
+41 76 344 7936