Kurt Schenk - Dresdner Private Bank
Siegfried Peyer - Pictet Cie
Pierre F. Baer - Credit Suisse Private Bank
Nick Lordá- FinanceAsia
Nick Lord The topic today is new relationships in Private Banking. What challenges do you now face when building relationships with your clients
Pierre Baer I think that the challenges are increasing and they are different than they were a few years ago. First, there is increasing competition from both established as well as non-established players. I think we're seeing a change in the customer profiling as well. We are seeing people who are becoming wealthy who have no experience in private banking prior to becoming wealthy, typically the nouveau...