Case Studies
Global Private Banking Strategy
Situation
A leading global financial institution sought to revitalize its private banking division with a distinctive strategy. Historically, the private banking sector had positioned itself primarily as a means for tax avoidance and optimization, fostering client relationships that were often perceived as conservative and uninspiring. Recognizing the need for differentiation in an evolving market, the bank aimed to redefine its value proposition and shed the industry's outdated image, thereby attracting a new generation of high-net-worth clients while retaining its established customer base.
Our Approach
MCAworks conducted a strategic analysis, identifying family offices as the pivotal gatekeepers and target constituency for the bank's private banking services. To gain deep insights, the firm executed a comprehensive series of qualitative interviews with key family office personnel. Based on these findings, MCAworks developed a nuanced strategy centered on a versatile portfolio of services and approaches. This strategy was designed to be highly adaptable, allowing for customization to address the unique needs and objectives of each family and their respective family office. This tailored approach aimed to enhance the bank's value proposition and strengthen its relationships with high-net-worth clients.
Results
The client’s private bank today ranks as one of the major institutions of its kind in the world.