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By Arnd HEßELER, Executive Manager and Peter KLENK, Senior Manager at zeb consulting
The European private banking market continues to pose major challenges for banks. Positive signals, such as the forecasted asset growth of 2 to 4% p.a. in the upcoming years, are offset by a variety of onerous conditions. In addition to well-known regulatory requirements (e.g. MiFID II), other changes such as the emergence of digital asset managers (“robo advisors”) and persistently low interest rates, induce a need for action with regard to critical earnings developments. Risks are especially tangible in the securities business, which accounts for 70 to 90% of private banking revenues in Europe. In order to ensure long-term competitiveness in the face of increasing competition, banks...
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