PWC Global Banking Survey

U.S.
Launch Event
A New Era: Redefining Ways To Deliver Trusted Advice
Global Private Banking and Wealth Management Survey
June 30, 2009
Information you can use.*
*connectedthinking 
Welcome
• Welcome – Thank you for joining us

• This presentation is a summary of our 2009 Global Private Banking and Wealth
Management Survey which was released on June 29th
• The 2009 Survey contains responses from respondents all over the globe plus
specific points of view from PwC on topics critical to the future of
wealth management
• Similarly, there are other launches scheduled globally. If you would like your
colleagues to be invited, just send us a note with their details
• Today’s event qualifies for CPE credits and the appropriate forms are outside
• We would ask for everyone’s consideration to switch their mobile devices to silent
PricewaterhouseCoopers Slide 2
Agenda
Introduction and five key themes
Steve Crosby
Performance in crisis – what to do now?
Jeremy Jensen
Client service - Disciplined segmentation lifts quality
Steve Crosby
The people agenda - A new strategy required
Janet Hanson
Operations and technology - Delivering client value and cost efficiency
Jay Burstell
Products and services – Delivering ‘Nouveau Classic’ banking
Logan Allin
Risk management – Protecting the client promise
Steve Crosby
What to do now?
Logan Allin
Wrap up
Steve Crosby
Questions for the panel
Reception upstairs in lobby

Introduction
Survey highlights
Steve Crosby
Survey background
• The survey originated in 1993

• Continues to be one of our most widely read publications
• Data collected from 238 wealth managers in 40 countries
• Quantitative data is as of FYE 12/31/08 and qualitative information is through the
end of Q1/09 and reflects a 24 month planning horizon
• Input spans all components of senior management as well as client-facing
relationship managers whether they are characterized as private bankers, FAs
or CRMs
• Participants ranged from universal global banks, large private client groups in
broker/dealers, specialist boutiques and family offices as well as some high net
worth individuals
• Our survey is independent, not sponsored by any client or vendor and undertaken
in service to the industry by the partners of PricewaterhouseCoopers, LLP
Survey background (continued)
• Data has been collected, secured and analyzed by our International Survey Unit
Split of participants by AuM (US$) Home region split of global participants
12% 13%
26%
16%
21%
71%
14% 27%
$0-1bn $1-5bn $5-10bn $10-50bn $50bn+ Americas Asia Paciffic EMEA
Assisting with the Global Private Banking
& Wealth Management Survey 2009
PwC’s International Survey Unit (ISU)
Full Service Statistical

Survey Design
Analysis Toolbox
Robust Data
Survey Professionals
Validation
Independent Deliverables
Trend Analysis
PricewaterhouseCoopers LLP Slide 7
We identified five core themes in our 2009 survey
• Global firms are taking a “nouveau classic banking” approach, going back to basics
and re-focusing on clients and their needs
• Achieving “trusted advisor” status and delivering consistently on key advice

processes is the paramount goal for all wealth managers. These are supplemented
by additional services such as aggregated reporting
• Firms are focused on a ruthless drive for operational efficiency and cost take-out
often with “creative approaches” to execution. At the same time, they are remaining
mindful of market differentiation, capturing flight-to-quality opportunities and
preparing for the eventual upturn through prioritized strategic initiatives
• Transparency is the new “gold standard” in terms of products and client servicing. It
reflects heightened appreciation of risk, an increased granularity and real time
perspective on where client assets are and the integrity of the processes and
agents involved
• Government is the new “Elephant in the Tent” placing increasing political, fiscal, tax,
and regulatory pressure on wealth managers
Performance in crisis
What to do now
Jeremy Jensen
Performance in crisis – What to do now
Summary of key findings
• During the downturn, average global firm client and asset attrition was 6-10%
• Respondents indicated they expect an economic rebound in Q1/Q2 2010
• Size does not correlate to profitability
• Sheer size/scale is no longer the goal for wealth managers
• Branding strategies are moving away from familiarity and migrating to
differentiation – “brand value” is a key differentiator with “strength of relationships”
a close second
• Firms found the $1-20MM segment to be the most profitable, followed by the
>$50MM+ segment, but believe that these will change positions and the
UHNW/Family Office segment will become the most profitable in 2 years
• Expansion plans have been scaled back except for leading Americas-based firms -
Middle East, and Asia are top expansion sites
• CFO key metric forecasts for ’09: Return on capital (10%), total new AUM (15%),
cost/income ratio (52%), revenue growth (13%), and profit before tax growth (0%)
The current crisis has taken its toll on wealth managers and their clients in our
Survey. Wealth management profits have plummeted since 2007 across all
regions
Profit before Taxes
-8
Global
0
Americas
-7
AsiaPac
-9
EMEA
-10 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150
2009 2007 2005

Regionally, we see signs of recovery, first in Asia followed by the Americas
Brand value continues to be a key differentiator in 2009 with strength and
characteristics of client relationships becoming increasingly more important
2005 2007 2009
Quality of
staf f Brand value Brand value
Provision of
Personal Strength of
comprehensive,
relationships client
integrated
relationships
w ealth
Brand value Quality of

Quality of CRMs
CRMs
0 10 20 30 40 50
0 10 20 30 40 50 0 10 20 30 40 50
% % %
Leaders of wealth management organizations clearly saw the effects of the
crisis on their businesses. There were a number of stress points across the
business landscape
Some of the more common points highlighted by our respondents included:
Business divestitures
Across-the-board budget cuts
Asset attrition
Client attrition
Head count reduction
We benefited from a flight to quality
We weren't affected as adversely as others, we have taken this

opportunity to strategically grow
0 20 40 60 80 100
Our survey suggests that there is no direct link between size and profitability.
Size simply for size’s sake is not an attractive goal
Size vs. Profitability
500
100
AuM in US$ bn
50
10
0.5
20 40 60 80 100 120
Cost/Income Ratio
Client service
Disciplined segmentation lifts quality
Steve Crosby
Client service – Disciplined segmentation lifts quality
• Focus on achieving trusted advisor status – firms seek to drive disciplined client
segmentation, tiered services, and channel strategy. Firms are micro-segmenting
beyond investable assets around demographics, source of wealth, and risk-appetite
• Increased strategic initiatives for targeted firm strategies for specific client
segments, especially family offices, entrepreneurs (cross-sell from commercial),
retirees and their beneficiaries (younger generations), and professional groups
(e.g., accountants, lawyers, and doctors)
• Firms are focused on client retention with the primary strategy being increased
touches by FAs and the on-line channel as well as heightened transparency
through reporting (particularly aggregated reporting) and market research
• Communication and measuring satisfaction/“pulse” with both clients, front office and
firm talent has become a constant focus for firm leadership
• Achieving trusted advisor status demands a disciplined client segmentation, tiered
services, and channel strategy as well as effective delivery on advice processes in
the front office. However, only 40% of FAs feel they have achieved “trusted advisor”
status with their key clients
• Firms believe their ratio of client to CRM should be 10:1 ($50MM+), 22:1 ($20-
50MM), 47:1 ($1-20MM), 75:1 ($500K-$1MM), and 80:1 ($100-500K)
Over 55% of wealth managers have increased interactions with clients
In the current economic environment direct, proactive contact from CRMs is
highly valued by all clients
Given the current global economic crisis, what tactics has your organization used to
retain clients
Increased client contact directly by CRMs
Increased call centre contact to clients
Reduction in fees charged to clients
Investment in services to clients
Increase in frequency of advice to clients
Increase in reporting and research information to clients
Educational events for clients

Marketing / advertising around the 'safety/flight to quality' of our
organisation
Investment in online channel servicing to clients
Other
0 20 40 60 80 100
% of participants
Acquisition and retention of clients is the number one CEO focus area
Which of the following are the most important strategic areas where you as CEO spend time?
Acquisition and retention of clients
Acquisition and retention of key staff
Cost reduction/business refocusing
Corporate mergers and acquisitions
Entry into new markets

Improving profitability
Investment performance
Managing through economic downturn
Managing risk
Operational stability, including outsourcing

Post merger/acquisition integration
0 50 100 150 200 250 300 350 400 450 500

Sum of weighted ranked responses
Many wealth managers are starting to apply behavioral criteria such as
‘investment style’ or ‘attitude to risk’, giving CRMs a far more complete and
multi-dimensional picture of clients’ values and behaviors
In segmenting your organization’s client base, what criteria are you currently using?
Current assets (wealth bands)
Potential assets
Investment style
Age (life cycle)
Old/new money
Reference currency
Lifestyle
Language
Ethnic grouping/cultures
Liquidity requirements
Income levels
Profitability by client
Geography
Client attitude to risk
Product mix usage
Distribution channel usage
No segmentation criteria used
Other
0 20 40 60 80 100
% of participants
Not all wealth segments are equally profitable, yet 45% of wealth managers
provide services across all 5 of the segments. Organizations need to refine
their approach to profitability
• Currently, the HNW $1-20MM
segment was viewed as the
Ultra high 2 years
net worth most profitable
>$50 million
• In 2 years, firms see a shift
Very high net
worth $20 million
to the UHNW as the most
< $50 million profitable segment
High net worth

$1 million < $20 million
Wealthy
$500,000 < $1 million
Affluent
$100,000 - $500,000
The people agenda
A new strategy required
Janet Hanson
The people agenda – A new strategy is required
• There is little confidence from management in CRM capabilities (with less than 25%
having “High” confidence) and firms will thus need to look to rectify recent
decreased training spend and provide training on key domain topics (trust/estate,
tax issues, etc.), relationship management, portfolio management, business
process adoption, succession planning, and soft skills
• Firms are focused on remuneration that is tied to long-term performance. A
balanced scorecard approach to client relationships aligned to driving key
behaviors in the front office that are client-centric and attuned to risk and more
fiduciary-driven actions
• Firms are seeking ways to be higher touch with clients, reduce the ratio of CRMs to
key clients while managing cost-to-serve – demands a team-based “wealth wheel”
(quarterback plus specialists – increasingly virtual) approach, optimized through
front-office tools, training, and support centers
Today’s economic crisis presents challenges for CRMs – New skills are
required which calls for new training and support centers
Please rank the top 3 weaknesses of your CRM population…
Lack of business experience
Lack of client relationship skills
Lack of global experience
Lack of product knowledge
Lack of understanding of risk
Lack of understanding of tax issues
Lack of ability to adjust to change quickly
Lack of ability to collaborate
Lack of ability to lead others
0 50 100 150 200 250 300 350 400 450 500
Revising performance measurement metrics and linking these directly with
individual and team rewards, will help create clear career paths for CRMs
How important are each of the following criteria in the measurement of your performance
as CRM?
Growth of assets under management
Meeting revenue targets
Number of new clients
Client satisfaction with service of the CRM
Client retention levels
Cross-selling of other products/services
Complaint levels
Number and volume of transactions
0 50 100 150 200 250 300 350 400
Reward is now under the microscope. Firms are focused on stock options and
other long-term incentive plans. Additionally, 60% of firms are planning on
instituting claw back provisions
How does your organisation plan on changing its remuneration structure in the next 2 years?
Stock options and other long

term incentive plans
Fringe benefits
Team/local office bonus
Bonus linked to the overall

result of the organisation
Individual performance bonus
0 20 40 60 80 100
%
Become less important No change in importance Become more important
The most profitable wealth managers have significantly lower ratios of clients
per CRM in the different wealth segments. Taking care of the client really
does pay
Average number of clients served per CRM across wealth segments (U.S. participants)
350
300
250
Average clients per CRM
200
150
100
50
0
$100,000 - $500,000 - $1 $1 – $20 - $50 More than
$500,000 million $20 million million $50 million
Average All participants Lowest C/I ratio participants
Talent needs to be nurtured for the long term. For 47% of wealth managers,
the average length of CRMs service is less than 5 years. Furthermore, only
39% of wealth managers have a formal employee retention program
Please rank your top reasons for leaving your previous employer
Lack of career path
Size/structure of remuneration package
Needed fresh challenge
Disagreement with management
Uncertain future
Did not feel contribuion was recognised
Did not agree with corporate strategy
Lack of product range
Insufficient training and educational prospects
Unrealistic expectations/pressure to meet targets
Corporate ethos and culture
Other
0 20 40 60 80 100
%
Client Relationship Managers:
What does the future hold for them?
All relationship executives are not created equal either in terms of the clients segments
served or geography
Expected average increase/decrease of CRMs over the next two years
by region and globally
Global Decrease of 24%
EMEA Decrease of 45%
Asia Pac Decrease of 17%
Americas Increase of 1%
Products & services
Delivering ‘Nouveau Classic’ banking
Logan Allin
Products and services – Delivering “nouveau classic” banking
• Responsibility shifts back to the firm in terms of product transparency and risk
ownership – with emphasis on “vanilla” vs. “complex” product
development/distribution
• Firms are focused on delivering advice with a fiduciary standard of care as the new
target – comprehensive advice through profiling, financial plan, proposal/IPS, and
client reporting – to meet regulatory requirements, improve the client experience,
and serve as a key differentiator for increasingly discerning clients
• Firms who focus on delivering advice - leading with financial planning for example,
have realized significant increases in productivity. Anecdotally, a leading firm found
that FAs who embraced financial planning had 65% more investment production.
Clients with financial plans in place generate twice the annual revenue with less
than half the attrition rate
• Continued push to hybrid (proprietary and open) architecture supported by
operationally efficient packaged, transparent, and client preference-driven products
(e.g., sustainability, retirement, etc.)
• Robust and aggregated reporting is the #1 services focus, driving transparency,
institutionalization and stickiness in the client relationship, and improved MIS
reporting for firms
Currently offered products and services vs. go-forward focus for next
2 years…
Tax and estate planning
Family office
Shariah products and advice
New investment alternatives
Trust and fiduciary services
Sustainability investments
Philanthropy
Hedge funds
Structured products
0 20 40 60 80 100
In 2 years Now
Firms continue to leverage a hybrid architecture approach with a mix of
producer (proprietary) and advice (open) architecture models
Which of the following best describes your business model, now and in two years’ time?
Advice led model (fully open

architecture)
Primarily producer led model
Primarily distributor led model
Both producer and distributor

models
0 20 40 60 80 100
In 2 years Now
Products and service offerings need to be clearly aligned with client
preferences and financial goals
How important do you rate the following product and service offerings in terms of serving your
clients over the next 2 years?
Retirement products
Intergenerational products
Hedge funds and structured products
Family office
Sustainability investments
Philanthropy
Shariah products and advice
0 10 20 30 40 50 60
Important Very Important
Increasingly, we see custom-tailored offerings which reflect the unique wealth
management needs of clients
Emerging products and/or services global firms plan to offer within the next 2 years?
Collectible management
Concierge services
Information aggregating and

reporting
Islamic finance
Real estate management
Philanthropy
Other
0 20 40 60 80 100
%
Operations and technology
Delivering client value and cost efficiency
Jay Burstell
Operations and technology – Delivering client value and cost efficiency
• Firms are looking to drive efficiencies internally, shore up capital bases, but also
seize the opportunity to capture additional market share, differentiate, invest for the
market upturn, and/or benefit further from total balance sheet flight to quality
• Firms view a 20% reduction in their cost base as the new hurdle for efficiency and
cost take-out initiatives, driven by non-traditional (non-FS) approaches coupled with
revised operating models, rationalized product portfolios, open architecture and
overlay portfolio management, divestitures and consolidation
• Anticipated expenditure on IT will decline on a global basis over the next
2 years; however, U.S. firms indicated that they are increasing IT spend in
“high impact” areas:
- Client online channel
- Advisor tools
- Enterprise data management
- Strategic outsourcing
Continued investment in new technology and streamlined processes that are
client-centric is required for all growth strategies to work
As COO, what are your top 3 objectives for your business?

Supporting and enabling business growth
Becoming a more customer oriented operation
Cost reduction through enhanced efficiency
Increasing organisational change agility
Setting up new operations/branches
Integration of prior acquistions
Integration of new/expected acquistions
Ensuring legal and regulatory compliance
Risk management (reputational, credit, market, ops)
0 50 100 150 200 250 300 350 400 450 500

In 2 years Now
CRMs currently spend 16% of their time on administration and error
resolution. The increased use of technology tools should better support CRMs
and their productivity
In which of the following areas do you, as Which of the following front office tools do you
CRM, spend your time? expect to have in place in 2 years’ time?
Contact with
existing clients
Marketing and CRM software & databases

4% prospecting
8%
Portfolio management tool
5% Administration and
error resolution
40% Account aggregation tool
10%
Portfolio
management Client profitability tool
Compliance
16% Financial Planning tool
17% Investment research

0 20 40 60 80
and analysis
Training
Off-shoring and Near-shoring – True cost, privacy and operational risk are
causing reflection on sourcing decisions
Off shoring to India, China, Eastern Europe and Singapore seems to be in decline as
organizations focus on Latin America and the Middle East
India
Singapore
Latin America
Eastern Europe
Hong Kong
Middle East
Africa
China
0 10 20 30 40 50 60
2007 2009 %
Sourcing trends for IT capabilities
Offshore continues to be critical but near-shore options are gaining momentum when
viewed from a total cost perspective including tax
How is your current IT capability predominately sourced and how do you, as COO, expect this
to change in two years’ time?
100
13 13
90
1 5
80 9
70 19
% of Participants
18
60
50 21
27
40
30 22
20
32
10 20
0
Now 2 Years
Departmentally Nationally Regionally Global hub Third party off-shore Third party on-shore
Risk management
Protecting the brand delivering the client promise
Steven Crosby
Governments as the new “Elephant in the Tent” driving increasing firm focus
on capital, enterprise risk and regulatory requirements
• Less confidence that the appropriate enterprise risk framework is in place – a key
go-forward focus, with majority looking to focus on stakeholder value, integrated
risk, and linking performance with capital efficiency
• Firms focused on automated, centralized and proactive compliance monitoring,
exception/business rule-driven to address changing regulations – especially with
respect to AML/BSA and sales practices/fiduciary standards
Risk is the third most important area on which CEOs are spending their time.
Wealth managers are working to update and evolve their frameworks
Which of the following best describes your organization’s approach to risk management, now
and in two years time?
Loss prevention and governance reporting
Risk quantification (value at risk) and alignment to objectives
CEO sponsors and promotes enterprise risk management

program
Focus on stakeholder value and integrated risk and value

management focusing on linking performance and capital
efficiency
0 20 40 60 80 100
%
In 2 years Now
Global operational and counterparty understanding and proactive risk
management are key elements of transparency which is required for
future success
Market risk appears to have
become the key area that
Market risk needs to be addressed
Counterparty risk/Credit risk evaluation/Liquidity management
Client and product suitability
Data security
Mis-selling/Inappropriate advice/Mandate breaches/Complaints
Operational processing errors/Compliance risk
IT risk and technology advances
0 10 20 30 40 50
%
2005 2007 2009
Information security, transparent product offerings and robust due diligence
processes are critical, not only to drive customer value, but also to protect the
reputation of wealth managers
What do you believe will be the key areas of risk needing to be addressed by your organisation
in two years’ time?
Data security
IT risk and technology advances
Market risk
Internal or external fraud risks
Development of inappropriate business strategy
Client and product suitability
Service and supplier management
Capital requirements
Mis-selling/Inappropriate advice/Mandate breaches/Complaints
Counterparty risk/Credit risk evaluation/Liquidity management
Operational processing errors/Compliance risk
Third party failure
Human resources
0 50 100 150 200 250 300 350 400 450 500
Following the financial crisis, regulators want extra layers of control. This will
drive wealth managers to change their approach to risk management and
thus, significantly increase their costs
What do you believe will be the top drivers for change to your approach to risk management
over the next two years?
Pre-requisite for delivery of business strategy
Increasing/changing client expectations and demands
Reaction to an industry trend
Need for increased capital requirements
Perceived source of competitive advantage
Perceived increase in risk
Increased incidence of losses internally
Reaction to external loss events
Changes in regulatory requirements/developments
Emergence of e-business/new technologies
Audit Committee/Non Executive directors pressures
Head office/parent requirement
0 50 100 150 200 250 300 350 400 450 500
Transparency defines how wealth managers keep clients informed on how
they manage their assets
It reflects a high degree of granularity around processing “life cycle” information and
data which will be a challenge for many firms to address
Sophistication/Immediacy Robustness/Reporting
Level 3 Aggregate Reporting

Scenario Modeling
Modeling Trend Analysis
Performance
Level 2 Reporting Valuation
Valuation
Level 1 Description
Basic Data
CUSIP/Date
Transparency: the new gold standard
Source PwC
What should you do now
Critical areas of focus
Logan Allin
As a result of our Survey, we believe the following are some critical areas of
focus for wealth managers
Business/Product
• Focus on achieving trusted advisor status – demands disciplined client segmentation, tiered
services, and channel strategy
• Prescriptive front office business processes built around desired client experience and setting
fiduciary standards as the target for client deliverables – requires profiling, financial planning
(strategic and tactical asset allocation), prudent portfolio construction process, proposal/IPS,
and performance monitoring/client reporting
• Front office support centers for planning, client reporting, due diligence support, and overlay
portfolio management to optimize CRMs
• Product launch and packaging
- Increased transparency, client-preference tailoring (e.g., sustainable, religious-compliant,
etc.) with a focus on operational efficiency
- Hybrid (proprietary and open) architecture with increased due diligence and involvement of
the investment policy committee
- Move to client-segregated vehicles (SMAs, wrap accounts, etc.). UMA for all packaged
products (open and proprietary models) facilitated by overlay portfolio management.
Growing trend for bank-sponsored overlay product offerings providing UMA product via
brokerage channel
- Focus on addressing the pre/in-retirement population and beneficiary relationships to
capture intergenerational wealth transfers
focus for wealth managers (continued)
Business/Product (continued)
• Talent management – Increased emphasis on advice–specific sales/portfolio management
training, business process adoption and succession planning
• Cost management – Starts at 20% reductions driven by non-traditional (non-FS) approaches
coupled with revised operating models, tailored product portfolios, open architecture,
divestitures and consolidation
Operations/IT
• Linking front office business processes with advanced technology tools/automation – looking
to leverage a single workstation to support front office business processes
• Key areas of focus and benefits for IT investment:
- Optimize on-line client channels (lower cost of service, increased potential client base and
support cross-selling and greater share of wallet across all wealth segments
- Front office tools:
• CRM (support integrated, single view of the client and understanding of complex entity
hierarchy models in family office segments)
• Financial planning, as well as tax planning/preparation
• Underwriting supported by enhanced assessment automation (risk
management/oversight on credit/loan provision)
• Overlay portfolio management (portfolio management efficiencies/common platform)
• Client reporting (tiered – aggregated reporting for the UHNW/Family office)
• Enterprise data management (normalize/consolidate data and enable advanced
IT architectures)
• Outsourcing – overlay portfolio management (especially on brokerage platform/for mass
affluent), trust operations, and infrastructure
Compliance/Risk
• Proactive Enterprise Risk Management (ERM)
• Automated monitoring of loan/credit structuring/underwriting and collateral management
• AML compliance business rule-driven monitoring
• Fiduciary and suitability/KYC risk management and monitoring
Closing
Questions and open discussion
Steve Crosby
Trusted advisor to wealth management and private banking…
How PwC can help
<footer>
How PwC can help
For further information, please contact

John Garvey john.garvey@us.pwc.com
646-471-2422
Gary Meltzer gary.c.meltzer@us.pwc.com
646-471-8763
Steve Crosby c.steven.crosby@us.pwc.com
646-471-4875
Questions and open discussion
Available On Line: www.pwc.com/wealth

www.pwc.com
This document is for general information purposes only, and should not be used as a substitute for consultation
with professional advisors.
© 2009 PricewaterhouseCoopers LLP. All rights reserved. "PricewaterhouseCoopers" refers to

PricewaterhouseCoopers LLP (a Delaware limited liability partnership) or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and
independent legal entity. *connectedthinking is trademark of PricewaterhouseCoopers LLP (US).

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U.S.

• Welcome – Thank you for joining us

Reception upstairs in lobby

• The survey originated in 1993

Split of participants by AuM (US$) Home region split of global participants

$0-1bn $1-5bn $5-10bn $10-50bn $50bn+ Americas Asia Paciffic EMEA

Full Service Statistical

• Achieving “trusted advisor” status and delivering consistently on key advice

-10 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150

2009 2007 2005

2005 2007 2009

Brand value Quality of

Across-the-board budget cuts

Head count reduction

We benefited from a flight to quality

We weren't affected as adversely as others, we have taken this

Size vs. Profitability

Increased client contact directly by CRMs

Increased call centre contact to clients

Reduction in fees charged to clients

Investment in services to clients

Increase in frequency of advice to clients

Increase in reporting and research information to clients

Educational events for clients

Acquisition and retention of key staff

Cost reduction/business refocusing

Corporate mergers and acquisitions

Entry into new markets

Managing through economic downturn

Operational stability, including outsourcing

0 50 100 150 200 250 300 350 400 450 500

High net worth

Please rank the top 3 weaknesses of your CRM population…

Lack of business experience

Lack of client relationship skills

Lack of global experience

Lack of product knowledge

Lack of understanding of risk

Lack of understanding of tax issues

Lack of ability to adjust to change quickly

Lack of ability to collaborate

Lack of ability to lead others

0 50 100 150 200 250 300 350 400 450 500

Sum of weighted ranked responses

Growth of assets under management

Meeting revenue targets

Number of new clients

Client satisfaction with service of the CRM

Client retention levels

Cross-selling of other products/services

Number and volume of transactions

0 50 100 150 200 250 300 350 400

Sum of weighted ranked responses

Stock options and other long

Team/local office bonus

Bonus linked to the overall

Individual performance bonus

Average All participants Lowest C/I ratio participants

Size/structure of remuneration package

Needed fresh challenge

Disagreement with management

Did not feel contribuion was recognised

Did not agree with corporate strategy

Lack of product range