8 r i private banking 1 1 WHAT'S News Issue 8 August 1996 SYSTEMATIC APPROACH The rapid growth in personnel and assets under management has, of course, major implications for Zurich's v systems and the team who manage them. Working dosely with the EDP unit in Luxembourg, Einar Mjöen is N responsibleforthe smooth running of the AS400,the Olympic private banking software and a whole range of other applications in constant use in the bank. While he agrees Olympic is probably the best private banking system on the market, he will welcome the day when all applications are more user friendly.'Every day, we get requests from our people inhouse for less complex systems. Our colleagues in Luxembourg are working hard on this. We would also like to be able to use the mass of data we have to make presentations, particularly to clients. Now, everyone has a plain screen with a mass of information.The optimal situation would be the ability to retrieve the data you want and present it in an attractive format. I think that's the future for us and we're working on it.' Einar Mjöen Mattias Bleuter us is that we are comfortable with the intake. For us as an organization, new acquisitions have to he digestible, they have to be assimilated into our culture, our Rabobank culture, smoothly.' The acquisition strategy has a two-fold purpose - the first is to build the critical mass outlined above. 'The second is that in parallel you create the infrastructure you need to operate,' Zimmer explains. 'Having put that in place, you can then go out and market to the network.' CENTRE OF COMPETENCE All of these activities are inherent elements in Rabobank Switzerland's strategy to position itself as a centre of competence. But there is a lot more to the strategy than acquisitions, opportunistic or otherwise. A new organizational structure, both in terms of how Zurich operates and how it approaches its clients has been put in place. Building on this strategy vigorously will mean Zurich can be rather more aggressive in its approach to winning clients. The current client-base has been segmented into three areas of service, depending on levels of assets entrusted. 'The first is standardized clients who receive a basic level of service coupled with IT support,' Zimmer explains. 'The second is active servicing with the same IT support.' The third segment receives the kind of intensive personal service outlined by Zurich's private bankers (see box). Although amounts of assets entrusted tend to be the benchmark for segmenting clients, Zimmer emphasizes that no cliënt would ever be declined based on level of assets. 'It would be very arrogant of us to say we only take clients with CHF 1 million-plus,' he says. Fvery cliënt is welcome here - not least because you can never be sure in the beginning what Officially the 'management assistant',Gertrud Machon does a lot more than support the senior team. With responsibility for personnel and security in the building, she is at the heart of Zurich's operation. his total assets are. The only criterium we apply is differentiated service according to funds entrusted.' NO CURE, NO PAY Every cliënt is welcome also because private banks face ever-tougher competition in winning customers. 'We have actually introduced an incentive plan,' says Mathias Bleuler, who recently joined the bank as portfolio manager. 'What we offer clients is the option of performance related fees. This means the better we perform, the more the cliënt earns in terms of return, and the more we, the bank, earn. It is a great challenge for me as a portfolio manager because in the end it will be down to me to generate that performance. But if you look at the majority of our clients, you see these are business people who have worked hard to build up their assets. This is an approach that appeals to the entrepreneurial spirit in them. Basically, it's no cure, no pay.' BLENDING TRADITIONS Creating this kind of value added is what Zurich is all about. In spite of Switzerland's reputation as the private banking centre, this market is anything but sinecure. Yet, the Zurich team is confident. 'What we aim to achieve here is a fine blend of the best traditions of Swiss private banking and the best traditions of Rabobank,' Zimmer confirms. 'There is a lot of respect for the Rabobank name in the international community - and we intend to build on that to reach the goals we have set out for ourselves.' CENTER OF COMPETENCE Als Center of Competence richt het kantoor zich niet alleen op Zwitserland, maar ook worden van hieruit klanten in de Arabische landen bediend. Verder geeft het leiding aan twee private bankers in Zuid-Amerika, in Buenos Aires en Sao Paulo, en de private banking activiteiten in Duitsland.

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1996 | | pagina 8