Private Bank

A private bank is a bank which engages primarily in wealth management.

In Switzerland, private banks fall under one of two categories.

Banks classified as private bankers (German: Privatbankiers, French: banquiers privés) are genuine private banks in the true sense of the word. They are owned and funded by individual bankers who are personally liable for any financial losses.

Other banks which are classified as private banks are not privately owned by individuals who are personally liable for losses. They simply engage in private banking – meaning they specialize in wealth management.

Unlike retail banks, private banks offer their services to select clients rather than the general public. Some private banks also engage in investment banking and securities brokerage, though these services too are provided to select clients.

Like Swiss retail banks, Swiss private banks participate in the depositor protection scheme operated by Esisuisse. Swiss private banks are governed by the Federal Act on Banks and Savings Banks.

More on this topic:
Wealth management service comparison

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