Annual Report 2006 - Faisal Finance Switzerland SA

Directors’ Report
The results of our mission to create, capture and convey the Bank’s
new identity are best viewed through our new logo and web-site (www.
faisalprivatebank.com). Also, the gradual change from what was up until
now relatively discreet curiosity to what has become the media’s genuine
interest for Faisal Private Bank’s wealth management and investment
paradigm, can also be viewed as an accomplishment.
Another recent development is our Bank’s achievement of comprehensive
peer recognition within the competitive financial services industry, which
is partially - and certainly not uniquely - a positive by-product of our new
strategic positioning in the market.
What is certainly more relevant to the objectives of the Private Banking
department as set forth at the beginning of 2006 by the Board of Directors
and by the Chief Executive, was to contribute to the financial growth
of the Bank. To this effect, when looking back, we do express a certain
degree of satisfaction at the increase of funds under management from
direct private / individual clients.
However, the true reward is that this quantitative objective is being
attained without jeopardising our overall qualitative commitment. Fully
aware that the opposite scenario would have been a collective but also an
individual failure for our team, in 2006 we also concentrated on delivering a
personalised service to clients, and on how to leverage the bank’s investment
platform and advisory skills to the fullest.
In light of the above, the challenges for 2007 can be summarised under
the following headlines.
To Increase our Service Offering
This will be achieved through a dual strategy: the selective introduction
of additional professionals in the team to propose new capacities and
complementary skill-sets; the geographical expansion of our Department
by opening representative offices within our key markets to deliver our
services directly.
Annual Report 2006
15
Private Banking