The use and importance of financial planning in the German private banking industry The use and importance of financial planning in the German private banking industry

The use and importance of financial planning in the German private banking industry

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Publisher Description

“The once so powerful financial institutions of the old "German Plc.", which in times of the
economic miracle partly controlled the fortune of the large scale industry, are facing the
greatest test of its latest history."1 This quotation from the year 2002 of two economic experts
reflects the situation, which the German banking industry was in, in recent years, and still is
in respectively. Even if many financial institutions are recovering, the reasons for the poor
situation are manifold.2 Questions about the banking model of the future are raised as well as
questions about the most successful business sectors. While investment banking is particularly
profitable in times of stock market booms, mergers and IPO's, it however turned out, that the
relatively stable business with private clients, especially with the wealthy ones, turns out to be
a solid source of recurrent income. Banks like e.g. UBS, Credit Suisse or Deutsche Bank are
making high profits, whose basis is more and more the private client business. That way, the
UBS drew a record profit of CHF 14.1 billion (approx. 9 billion €) in 2005.

GENRE
Business & Personal Finance
RELEASED
2009
January 28
LANGUAGE
EN
English
LENGTH
141
Pages
PUBLISHER
GRIN Verlag
SELLER
Open Publishing GmbH
SIZE
1.1
MB