1
With private banking we refer in this book to all industry players contributing in one way or another to the management of the wealth of high-net-worth individuals (HNWIs). The most obvious players in this respect are private banks and independent asset managers (IAMs).
2
Lindsay A. Owens, “The Polls – Trends: Confidence in Banks, Financial Institutions, and Wall Street, 1971–2011,” Pub 1 With 2 Lindsay A. Owens, “The Polls – Trends: Confidence in Banks, Financial Institutions, and Wall Street, 1971–2011,” 3 “Edelman Trust Barometer 4 David H. Maister, Charles H. Green, and Robert M. Galford, 5 See, for example, Randy Conley, “Three Levels of Trust: What Level Are Your Relationships?,” June 6, 2011, leadingwithtrust.com. 6 7 In general, interest income on cash or deposits is lower than the inflation rate.