Private Banking

The new economy and its impact on wealth management

• Industry trends and future directions in global private banking
• Deregulation, globalisation and changing needs

Selling investment products

• Client's risk profile and investment horizon
• Selecting the right vehicle for the right client
• Using the links to other core areas within the bank

CORE INVESTMENT PRODUCTS - Short term versus long term investment

• Money markets products
• Treasury bills
• Certificates of deposit
• Commercial papers
• Bankers acceptances
• Repos explained

Foreign exchange

• Who uses the FX markets and for what objectives?
• What causes the foreign exchange rates to change?
• Understanding spot rates and cross rates
• Calculating forward rates

Bonds and fixed income securities

• Government securities
• Corporate bonds
• Eurobonds
• Treasury notes
• More complex structures

Equity investments

• Types of equity issues
• Different types of stocks
• Equity selection
• How to assess a company’s equity value
• ADRs (American Depository Receipts)
• Mutual funds
• types of mutual funds
• selecting a fund based on risk objectives

Commodities

• Precious metals
• Using the futures markets

Cash management

Portfolio management

• Determining investors' objectives
• Conducting sector analysis
• Asset allocation
• Portfolio selection techniques
• Different types of funds
  • Discretionary fund management
  • Non-discretionary fund management
  • Investment funds
  • Multi-manager funds

WORKSHOP
Portfolio construction
Examining a client's portfolio to determine whether the current mix meets the objectives established.

INNOVATIVE PRODUCTS

Derivatives and structured products

• Options and warrants
• Structured notes
• Reverse convertibles
• Index linked securities
• Sector linked securities
• Protected index notes
• Protected sector notes
• Tailored products
• Market-linked deposits

Hedge funds

• Classes of hedge funds
• Hedge fund strategies
• macro
• arbitrage
• event-driven
• market neutral
• long-short

Private equity

• Types of private equity funds
• IPOs

Tax Efficient Banking Products

• PEP’s
• ISA’s
• TESSA’s

INVESTMENT SERVICES

Investment performance evaluation for private clients

• The importance of client reporting
• Understanding the different methodologies used in measuring returns
• Benchmarks - what are they and when they should be used
• How to effectively interpret risk adjusted measures:
  • standard deviation, tracking error, H_ and beta
• Understanding the ratios and their implications:
  • Sharpe, Treynor, Jensen and Information Ratio

Risk management

• Interest rate and currency risks
• Using yield curves
• Techniques for measuring risks
• Benefits of diversification

WEALTH MANAGEMENT ADVICE

Trusts

• Types of trusts
  • off-shore trusts
  • interest in possession trusts
  • discretionary trusts
• Reasons for setting up trusts
  • confidentiality
  • tax mitigation
  • asset protection
  • estate planning
• How to plan different structures
• Execution agreements
• Tax considerations

Tax planning

• Impact of new legislation
• Onshore vs. offshore centres
• Favourable locations
• Tax savings structures

Regulatory Environment (half day on this section)

• U.S. (Merrill deal with American Companies on a regular basis
• Securities Institute
• NASD (Governs all brokerage business)
• FSA
• Swiss regulatory environment