Talk:Private banking

Private Banks!

It is a well known fact that private banking is part of the largest banks and investment firms in the world. The reason this term may be in dispute is that among the general public, who lack the tens of millions of dollars to be a private banking client, the term is not heard very often. But banks such as J.P. Morgan / Chase, Wells Fargo, Bank of America, all have private banking offerings —Preceding unsigned comment added by 24.189.6.145 (talk) 19:49, August 25, 2007 (UTC)

Private banks?

OK now, maybe I have a different understanding of the concept of "private banking", but to me it has nothing to do with the nature of the bank, but rather the services rendered. I believe the reference to "private banks" here is rather inappropriate. PrinceGloria 10:24, 26 April 2007 (UTC)
PS. I posted it @ Talk:Private bank at first, as I assumed, by mistake, only to find the two pages were merged - with rather little reason to it, as explained above. Therefore, I am hereby establishing a separate talk page for Private banking.

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Author is just citing marketing from the so called 'private banking' departments of investment banks

The author completely misunderstood the subject. Private bank refers to the fact that a *real* private bank is privately owned and a number of private individuals hold unlimited liability for the commitments of the bank. These private banks normally only deal with individuals of high net worth and the expression 'private banking' became seen as something very exclusive and therefore attractive to wealthy and semi wealthy individuals. Since the term is not protected, the larger investment banks basically stole the expression and now use it to fool people that they actually have a 'private banking department', which is quite amusing to anyone who knows what the word means and where it comes from. When these banks claim to do 'private banking' they just mean that they renamed their wealth management department to ride off the good reputation of the real private banks, primarily the Swiss ones. Whoever wrote this article has obviously bought into the marketing hype and is just copying what the big banks say in their marketing. The list of 'private bank rankings' is particularly interesting since there is not a single private bank in that list. —Preceding unsigned comment added by 83.173.205.18 (talk • contribs)

Semantics

The original complaint is only valid in-so-much that the term "Private Banking" has been redefined in recent times, but as it was only ever a generalisation to refer to smaller, mainly Swiss banks, this is not reason to dispute the validity of the article. The main reason that the original "Private Banks" became popular was more to do with the secrecy with which funds were handled, potentially for tax avoidance purposes. Most of these original "Private Banks" are today listed. Bischoff zu St Alban, Ehinger & Cie., J. Merian-Forcart, Passavant & Cie., J. Riggenbach and von Speyr & Cie for example, all formed Basler Bankverein, the forerunner of SBC (Swiss Banking Corporation), which evetually grew through aquisition to become part of UBS AG. The terms "Private Banking" and "Private Bank" were not used by the original banks themselves and came to refer to the asset management services of high and ultra high net worth individuals generally, even though as early as 1907 UHNW individuals were investing with the publicly owned Central Bank. It is therefore difficult to accurately define exactly where the term found it's origins. I would recommend that the article reflect this. Today, companies such as HSBC, Deutsche Bank and even UBS have seperate group entities called "Private Bank". 80.227.104.218 10:35, 22 August 2007 (UTC)

Contradiction

This page is in contradiction to the page on [Wealth Management] which says that "However, WM clients are NOT Private Banking clients because they simply do not have the Net Worth or AuM to justify the level of banking services that Private Banks provide." Here, it says that "A high-level form of private banking (for the especially affluent) is often referred to as wealth management." Which is it supposed to be? 203.171.34.168 (talk) 03:51, 31 March 2008 (UTC)

Another contradiction is: "Private banking forms an important, more exclusive, subset of wealth management" (second paragraph) versus "A high-level form of private banking (for the especially affluent) is often referred to as wealth management." (fourth paragraph, or second paragraph in the Overview section) - Ujongbakuto (talk) 15:33, 30 July 2013 (UTC)

merging unwise

Private banking and private banks are two separate issues.

Private banking is a form of asset management. —Preceding unsigned comment added by MarkAlexan (talk • contribs) 15:47, 27 July 2008 (UTC)

Private Banking/Wealth Management

I can't split these pages because rankings and market overview sections should be in both articles. All we can do is rename this page to wealth management because private banking is just a subset of it.--Wall Street CEO (talk) 12:25, 9 October 2011 (UTC) Talk:Wealth management#Private Banking/Wealth Management

Confusing

If there needs to be a separate page for each one, then possibly find alternate terms to describe the difference between "private banking" and "private banks". If there is no alternative, then somewhere on BOTH pages, please explain that it is not the same thing AND WHY. There should also be a vote on a proposed merger instead of just senseless arguing. Svrangerchrista (talk) 12:55, 2 November 2018 (UTC)