BANKING SECRECY AND PRIVATE BANKING IN AUSTRIA Michael Blin Senior Vice President Private Banking Austria – a good environment for Private Banking Location in the heart of Europe Political and economic stability Limited tax liability for non-residents
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PRIVATE BANKING IN AUSTRIA
Senior Vice President Private Banking
The Banking Secrecy in Austria is considered a classic liberal achievement!
The protection of client information is based on trust.
All Statistics, graphs and charts courtesy of Johannes Kepler Universität Linz, www.jku.at
Of the Austrian 55 Private Banks
The status of the Private Bank determines the client approach.
Private Banks in Austria have grown 18.5% in client funds over the last 3-5 years.
Employees vs. Volume:
Number of Banks
Employee average growth
Volume average growth
Managed Wealth has increased faster than the number of employees over the past years.
85% of Private Banks manage less than EUR 5 billion in assets.
Clients and Employees:
50% of the Private Banks in Austria employ less than 18 client relationship managers and have less
than 1700 clients.
The Austrian Private Banking industry: many small, few large institutions.
Clients per Relationship Manager – the quality criterion!
CRMs manage from 20 to 500 clients.
There are large differences in the definition of Private Banking between different Banks.
By Legal Structure:
By Assets under Management:
Segmentation criteria selected by Banks:
Assets under Management
Need to delegate
% Banks using this criterium
Assets Under Management is the most common client segmentation feature
Country of Origin of Assets:
CEE is still not strongly represented but the fastest growing segment.
Average minimum wealth for varying specific services:
Increasing specialized services
Personal wealth management
Higher wealth dictates higher levels of sophistication of services.
No. of Banks
Clients of Austrian Banks are more risk averse than the global average.
Austria – a conservative market:
% total investments
Source/Quelle Daten: Capgemini/Merill Lynch: World Wealth Report 2006
Austrian Private Banking Industry: Summary of Characteristics
Anglo Irish Bank: There is a difference.
A straightforward business model and a clear focus create a high degree of specialisation.
Application of the best available products to the client‘s individual targets.
All funds are subject to Austrian Fund Legislation
the Private sphere of the owner
2008 EUROMONEY AWARD
BEST OFFSHORE SERVICES IN AUSTRIA
e-mail: firstname.lastname@example.org homepage: http://www.angloirishbank.at
This document serves as additional information for our investors and is based on the level of knowledge of the person appointed with the preparation at the close of printing. Our analyses and deductions are of a general nature and do not take into account individual requirements regarding yield, tax situation or risk profile. References to past performance of the individual funds do not necessarily guarantee positive developments in the future.
Altough we consider our sources of information (OeKB, Tipas, Bloomberg, Reuters resp. own calculations) to be reliable, we take no liability regarding compeleteness or correctness of the herein rendered information. This document is neither an offer, nor an invitation to tender for the purchase or sale of securities.