Promsvyazbank prompting innovation in Russia’s growing banking sector

Jeff Holland, Partner, Brown Brothers Harriman

Considerable regulatory and cost pressures have forced private banks to adopt new business models and distinguish clearly between their client segments. Brown Brothers Harriman has identified one emerging trend caused by this perfect storm: ‘multi-convergence’, where universal banks, private banks and asset managers are consolidating their businesses. Jeff Holland explains the changing landscape.

Paul Patterson, Head of Global Trust, RBC Wealth Management

In recent years, the Channel Islands have implemented higher standards of regulation. Combined with their natural strengths of political stability, tax neutrality and a large pool of wealth management talent, they have become recognised as high-standard financial centres. Paul Patterson outlines how RBC Wealth Management’s Canadian heritage, strong capital base, and uniquely integrated delivery put it ahead of its competitors in private banking, and describes some of the future opportunities that will arise from operating in the Channel Islands.

Arturo Hidrobo, President, Banco Capital

Since adopting the dollar as its currency in 2000, Ecuador’s financial market has grown significantly; but private bank Banco Capital has been speeding ahead of the competition. In 2011 its savings deposits grew 74 percent, compared to an industry average of 18 percent; and its chequing accounts grew 163 percent, compared to an average of just eight percent. Arturo Hidrobo describes how his transformational leadership style and some crucial investments in new technology have put it at the forefront of the sector.

Mario Cruz, Executive Director, Banco Atlantico

The Angolan economy has doubled in the last 10 years, with GDP averaging $90bn in 2011 and predicted to reach $200bn in 2020. Mario Cruz outlines why the country is becoming the centre for investment opportunities in Africa, with huge potential across several industry sectors, and explains the importance of corporate social responsibility to Banco Atlantico.

Jeff Birnbaum, MEAB Bank

MEAB Bank enjoyed significant increases in all its major activities in 2010-11: its assets grew by a third, net profits by three percent, and its share of capital from $27.2m to $54.4m. Jeff Birnbaum explains how this growth has been secured by MEAB Bank’s commitment to acting with openness and integrity, and its investment in compliance and internal governance.

Eduardo Leeman, CEO, Falcon Private Bank

With GCC leaders planning to invest $800bn in major infrastructure projects in the next few years, the region presents fantastic opportunities for entrepreneurs – and for the wealth managers who can win their trust. Falcon Private Bank is well poised to capitalise on this business growth: with a Swiss base, Abu Dhabi ownership, and a 45 year history of client-focused private banking. Eduardo Leeman discusses the importance of the MENA region to Falcon’s growth strategy, and the competitive edge that will bring it success.

Pedro Duarte, CEO, Banco Carregosa

Banco Carregosa is the oldest financial institution in the Iberian Pensinula, dating back to 1833. In that time it has evolved from a foreign exchange trading house, to a full service financial brokerage company, and today focuses exclusively on private banking. Pedro Duarte discusses the bank’s strong sense of heritage, the challenges faced by the Portuguese economy, and why having a small and stable group of shareholders helps the company maintain independence.

Hugo Aramburu, Managing Director of Wealth Management, Banca March

According to the European banking stress tests, Banca March has the highest solvency rating in Europe, at 22 percent. Hugo Aramburu discusses how the European Banking Authority’s analysis has been a powerful marketing tool for the bank, the hope of the Spanish financial industries as the country comes out of the recession, and the three pillars of support Banca March offers to family businesses and business managers.

Dimosthenis Arhodidis, Head of Eurobank EFG Private Banking

Greece is rarely out of the news right now, with new debt negotiations and austerity measures announced every week – but the wheels of financial industry must keep turning. Dimosthenis Arhodidis discusses the three big challenges the Greek banking system faces because of the country’s sovereign debt crisis, and how Eurobank helped its private banking clients diversify their assets before the storm truly hit.