The 9th International Wealth Management & Private Banking Summit – Russia & CIS, organized by Adam Smith Conferences, was held in Moscow on April 10-11, 2019.
The conference was attended by key players of the private banking industry: heads of private banks and family offices who work with high-net-worth individuals (HNWI) and ultra- high-net-worth individuals (UHNWI) in Russia, Switzerland, the UK, and other jurisdictions, as well as experts on taxation and legal issues.
Participants discussed the automatic exchange of information with other countries, the processes of deoffshorization and capital amnesty, changes in tax legislation, while devoting attention to the programs of citizenship, digitalization in the private banking industry and security issues in the digital space.
In keeping with tradition, a separate breakout session was devoted to the “fathers and children” theme – the young generation of wealth holders and inheritance planning tools and the role of philanthropic projects in the life of an affluent family.
Sergey Potapeyko, Vice President – Head of Gazprombank’s Private Banking Business, took part in the discussion of private banking representatives of the largest Russian and Western banks. Bankers exchanged opinions, discussed the difference between the Western and Russian approach to working with customers, automating processes, the relevance of consulting and concierge services, and nuances involved in working with different generations of a customer's family.
Sergey Potapeyko pointed out: “In the modern world, where almost any new idea is instantly copied, and the product and lifestyle solutions in the private banking of leading banks differ slightly, service quality and the emotional component come to the fore. When a customer, who has just entered the bank, makes contact not only with a manager who cheerfully passes on the rates and commissions, but also meets an interesting and mindful person who understands economics, navigates the news flow, and knows what will be useful for this particular customer – then very positive emotions spring from working with the bank. If the bank also timely informs the customer of any regulatory changes, provides assistance in executing top-quality real estate deals, invites the customer to the best cultural events and introduces his/her children to financial literacy in the format of a private club – then positive emotions turn into a good habit. At this point, the customer remains seriously committed to the bank for a long time. Therefore, in the private banking segment it is of utmost importance to consistently invest in the development of human capital. In our business, technology can be bought and implemented quickly enough, whereas finding a strong and experienced private banker is no easy matter. ”