Trust and interpersonal skills are key To meet changing customer expectations, the private banker puts interpersonal skills and trust at the heart of what they do, explains Catherine Croisier, Senior Relationship Manager Private Banking at BIL.
What are the biggest trends in the private banking sector? Over the past few years, customers have become more sophisticated, more demanding. They’re more international too. Their assets or family are based in different countries, and if they are business owners, their activity may also be based in another country. To comprehend this change, you need a very good understanding and overall awareness of each client’s individual assets and personal situation. Demands are also changing. We often deal with entrepreneurs whose capital isn’t necessarily very liquid. In this instance, credit becomes particularly important. We’re here to provide made-to-measure solutions, be it to finance the purchase of a second home or develop a more specific project, to grant a traditional loan or support a financial investment. As well as discretionary portfolio management and advisory services, we have expanded our suite to include more sophisticated products. And finally, in response to regulatory framework changes, we must be more informative, to ensure our clients are adequately updated. What impact does this have on the private banker’s role? Our job involves client contact, and so interper-
sonal skills and trust are essential. We touch upon certain private aspects of our clients’ lives. The advisor is at the heart of this personal relationship and is the point of contact between the customer and the bank. We’re also surrounded by a team of credit, structuring and wealth management experts. We’re facing wealthy families with very specific needs. As such, they need tailor-made solutions. No two cases are the same. It’s up to us to implement the right resources to understand the client and meet their needs. Can you describe your typical client profile? We have a lot of entrepreneurs, a younger, more dynamic clientele who are often rather impatient. As a general bank, we can assist them with both their personal and professional projects. Another positive aspect is that the Bank’s decision-making centre is Luxembourg. This enables us to obtain decisions very quickly. Plus, we can help some of them expand in China, thanks to our Chinese shareholder’s support and network. We’re currently looking at what diversification opportunities the country could offer in terms of investments. Our drive is to continue expanding our suite of investment products, especially in responsible investment.
“ Our clients are increasingly sophisticated and demanding, requiring a global understanding of their world.” 26
