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Education is crucial to enhancing customer service quality and client experience, at every point of contact with the bank


RENATOPROENÇALOPES BANCO DO BRASIL PRIVATE


BEST PRIVATE BANK FOR BUSINESS CONTINUITY PLANS (COVID-19); BEST PRIVATE BANK FOR GLOBAL FAMILIES AND FAMILY OFFICES; BEST PRIVATE BANK FOR CUSTOMER SERVICE CITI PRIVATE BANK


Citi PrivateBankincreasinglyfocuses oncapturingthe financialand business interests of global families withtentacles in several locations ondifferentcontinents. In theEmea regionalone, thebankidentifiesmore than35 different nationalities–active in businesses includingbiotech, consumerelectronics,aviation, hospitality, real estateandshipping– makingupitsprivate clientbook. In addition, thebankis targeting


particularpockets of cross-border orientedwealth.“There aremanywell- establishedcross-regional corridors whereclients’ lifestylesandbusiness interestsnaturallypredisposethem toaninternational viewof theworld witharequirement tomanageassets andfinances acrosscountriesand continents,” saysPeter Charrington, NewYork-basedglobalCEOof Citi PrivateBank, responsible for assets of morethan$300bn. Amongthese groupingshe


highlights the Indiandiaspora, with close links to theUK,UAEandAfrica; Russians withinterests in theUKand France;andtheMiddleEast,which hasclose ties toboththeUKandUS. Despitethis global perspective,


manyclients arestillguilty ofhome bias,entailing“idiosyncraticcountry risk”,accordingtoMrCharrington, whosees his jobasadvisingfamilies aboutmorediverseopportunities across classesandgeographies. Todiversify fromatraditional bias


to income-producingprimereal estate assets inLondonandNewYork, Citi is increasinglychannellingmore clients intoopportunistic,value-


64 GLOBAL PRIVATE BANKING AWARDS 2020


addedopportunities suchas student housingandsenior living, withalower correlation to economiccrises.Many clientshavebackedthesethemes, with Citi postinga$33bnnetnew moneyinflowin2019. “Opportunistic themessuch


as distressedhospitality are especiallypopularpost-Covid-19,” saysMrCharrington.Hepoints to thepandemic’s influenceonthe proliferationof digital infrastructure suchasdata centresandmasts, allowinginvestors tocapitaliseon acceleratinggrowthindataandtraffic. Thebroader portfoliopicturehe


paints isoneof dramaticallydispersed valuations, leadingtobothsubstantial investmentopportunitiesandrisks. In Citi’s view,massivegovernment spendingcombinedwithCovid’s industrialimpacthasleftsomeasset prices toohighandvulnerableand othersdepressedandpoisedforapost- pandemicrecovery. While Citimadeafastmoveto


remoteworkingat the start of global lockdowns,manystaff arereturning to offices, with clients increasingly offeredface-to-facemeetings “ina controlled, safeenvironment”.YB


BEST PRIVATE BANK FOR EDUCATION AND TRAINING OF PRIVATE BANKERS BANCODOBRASIL PRIVATE


Privatebankingisapeoplebusiness andthe trainingof privatebankers playsakeyrole in attractingand retainingbothtalentandclients. “Educationis crucial toenhancing


customerservicequalityandclient experience, atevery point ofcontact withthebank,” saysRenatoProença Lopes,headofBancodoBrasil Private. Whennewprivatebankers are


brought in, oftensourcedfromBanco doBrasil Premium,theygothrough anintensive trainingprogrammeto acquirehardskills suchas technical knowledgeonproductsandservices,


but also improve softones,suchas customer serviceandbehaviour. Almost80per cent ofbankers are certified financial planners. TheCorporateUniversity ofBanco


doBrasil providesawiderangeof courses, throughavarietyofchannels aimedatmeetingthe strategic objectivesandtrainingneedsof eachdepartmentwithin thebank. In addition to thegeneral programme, traininginitiatives aretailoredto thebankers’ individualneeds, the specificities of themarket inwhich theyoperate,andthe profileof the clients theyserve. Toattractandretain talent, in


2019 the privatebanksignificantly increaseditsentry level salary, linking thevariable segmenttomoreobjective criteria,suchasbusiness performance andcustomersatisfaction.These changescontributedto limitbanker turnover to lessthan10 per cent. In partnership with renowned


highereducationestablishment FundaçãoGetúlioVargas, thebank hasdevelopedanMBAprogramme for its privatebankers. It also offers several programmes toenhanceand develop leadershipskills, including oneaimedspecificallyatwomen. Regularsurveysmonitor


customersatisfaction.“Inmost recentsurveys,wehaveobserved continuousimprovementaround investmentadvisoryandrelationship management,whichindicates the initiativesadoptedarebringingthe expectedresults,”saysMauroRibeiro Neto,chiefcorporateofficer.The netpromoter score, thepercentage of clients ratingtheir likelihood to recommendthebank,continues to improve.“Westronglybelieve that investingin trainingourbankers is essential toexpandourpresencein the market, especially in thiscompetitive scenario,”statesMrRibeiro.ET


Profiles written by Yuri Bender, Paula Garrido and Elisa Trovato


MEET THE JUDGES


GERARDAQUILINA Partner, Cone Marshall


YURIBENDER Editor-in-Chief, Professional Wealth Management


KIMCORNWALL Founder and CEO, Cornwall and Co Consulting Ltd


SEBDOVEY Independent Wealth Management Consultant


SHELBYDU PASQUIER Partner, Head of Banking and Finance Group, Lenz & Staehelin


SIMEONFOWLER CEO, Fowler Fox & Co group of companies


KIANLEONG, Partner, Pricewater- houseCoopers


SILVIAPAVONI Economics Editor, The Banker


ALOIS PIRKER Research Director Wealth Management, AITE Group


AMINRAJAN CEO, Create- Research


RAYSOUDAH Founder, Millenium- Associates,


WILLIAMSULLIVAN President at Family Office Exchange


KAIUPADEK Partner, Head of Wealth Management, Oliver Wyman


HELENWESTROPP Principal, Delphi Marques


CARAWILLIAMS Global Head of Wealth Manager and Global Technology Solutions, Mercer


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