Small, boutique private banks are starting to attract greater interest from potential clients. Citibank’s recent multi-billion-dollar injection to beef up its balance sheet is just one of many similar headlines of late. Such recent write-downs by brand-name banks have prompted private banking clients to question whether it is wise to put their money in these large financial institutions.

‘Prince Maximilian, Group CEO, LGT Bank in Liechtenstein, said: “People question why these large banks have failed so dramatically. If they could not manage their own profitability in a sensible way, what does that mean for the client?’

‘Boutique private banks like LGT said that unlike their more famous, brand-name counterparts, the smaller ones tend to be better focused. ‘

‘There was a huge jump in the number of private banks setting up operations in Singapore last year, all seeking to tap into the huge growth potential amid the rising number of high net worth individuals in the region. ‘

Small Private Banks Attracting Interest