WM issue 5

| 18 | INTERVIEW
Clients, offering them banking,
financing and investment services.
Our product base includes
deposit products, notice accounts,
current accounts, term deposits,
fiduciary fixed deposits and various
types of credit facilities and
loans. In relation to the latter,
we offer bespoke financing solutions,
which cover personal needs
(including housing loans), property
acquisitions and investment
loans in Cyprus, Greece and the
UK. On top of the traditional banking products through
Eurobank’s Private Banking, we offer the full spectrum
of investment services of the highest standard. Through
highly experienced Investment Advisors, we offer access
and technical know-how, covering the entire range of
investment products on a global scale, including equities,
bonds, mutual funds, ETFs, alternatives, commodities,
currencies and structured products. The Global Trading
Desk operates during extended trading hours (9:30am-
11:00pm), which facilitates transaction execution in all
the main European, US and Asian markets. Our clients
have the option to select among Execution, Advisory and
Discretionary services. Through Execution services, the
client personally selects each investment instrument and
we facilitate execution through our extensive network of
brokers and asset managers. Through our Advisory services,
our experienced advisors guide clients on tactical asset
allocation as well as on individual security selection, while
our investment strategies take into consideration the
unique characteristics of each client’s investment objectives
and risk appetite. Through our rounded Discretionary
services, we work with clients to establish appropriate
financial targets and suitable levels of risk, which means
that tactical asset allocation, as well as the selection of
investment products/securities to construct the client’s
portfolio, are decided through our specialized subsidiary,
Eurobank Asset Management.
What is the role and function of the modern Private
Banker serving HNWIs? How has this role evolved in
recent years, given the changing needs of this clientele?
The Private Banker is essentially the single point of contact
between clients and the bank and will, at all times,
act as the facilitator who will leverage channels to deliver
services or advice to clients with added convenience. It
is a role that requires a combination of analytical ability,
expertise, diverse and comprehensive market knowledge,
technical competencies, detail orientation, as well as the
OUR AIM IS TO
BECOME THE
STRONGEST PRIVATE
BANKING SERVICE
PROVIDER IN THE
REGION
necessary soft skills. Over the
last few years, the interplay
with clients has transformed
from purely transactional to
relationship-based, and from
selling a product to solving the
ever-changing client needs.
Considering that the development
of new technologies is one
of the most important trends
currently affecting the industry
and given that communications
have shifted to the digital approach,
especially due to the pandemic, the role of the
Private Banker has evolved accordingly in order to match
the new reality and requirements. However, despite this
shift to the digital era of virtual meetings and robo-offerings,
the biggest advantage of Private Banking is to have a
dedicated person or team that already knows your circumstances
and can guide you through your wealth management
journey in a private, responsible and discreet manner.
What is your vision for the future of Eurobank’s Private
Banking function?
We have long provided our clients with dedicated service
and advice. Our offering combines the benefits of being
part of an international financial group with a business
model focused on building strong personal relationships.
Our Private Banking presence in 4 locations (Greece, Cyprus,
Luxembourg and London) connects us under a strategic
umbrella that makes the most of our offered services
and we have been consistently building on this advantage.
To address the new digital era, for the past two years, the Division
has focused on the implementation of our “New Generation”
Private Banking, which aims at business simplification
and the alignment of products, processes and IT systems, thus
ensuring the best experience for our customers. This transformation
project has been deployed and is expected to be
fully operational soon, so as to further enrich our services
in the four locations in which Eurobank Group Private
Banking is present. Shared digital and high-quality experiences
will be offered to all Private Banking customers,
regardless of where they wish to retain their investment funds.
Our dedicated Private Bank in Luxembourg will play a
pivotal role in the new era, since it will enable our clients
to embrace its prestige, expertise and quality of services,
as well as the low country risk it enjoys. By moving to this
new architecture, we trust that we will best manage areas
such as agility, productivity, optimization of operations,
transparency, risk reduction and economies of scale. Our
aim is to become the strongest Private Banking service
provider in the region.