FT Private Banking

[Bapopik at AOL.COM]

   More financial buzzwords and phrases.
   From the FINANCIAL TIMES, Private Banking section, 22 June 2001.

Pg. 1, col. 1:
   "Money talks, wealth whispers", used to be the motto of the world's leading private banks.  While the world's retail and investment bankers boasted loudly over what they could do for their clients, private bankers preferred a more discreet approach when it came to touting for new business.

Pg. 1, col. 5:
   Mr Gagnebin believes that the trend towards "open architecture", where private banks have to offer their customers their rivals' best products, is the most fundamental revolution facing the private banking industry.

Pg. 4, col. 4:
_Rise and rise of family values_
_The concept of family offices, which administer the wealth of a family from one generation to the next, is well established in the US.  Within Europe, only wealthy German families have taken an interest in the idea_
   Bankers have picked up on a new buzzword:  family offices.

Pg. 6, col. 1:
   The slowing in growth last year created a particularly exclusive group of momentarily wealthy people--what the report dubs the "minute millionaires".

Pg. 6, col. 5:
   Banks are trying to cash in on trends as diverse as the introduction of the euro and the rise of the "mass affluent"--people who are comfortably-off without being rich.
("Mass affluent" is used several times in this supplement.  Sounds gross--ed.)

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   From the WALL STREET JOURNAL EUROPE, June 22-23, 2001, pg. 21, col. 2:

   But it is now the Bavarians (BMW--ed.) who are starting to win races and are threatening to gain the upper hand in the "win on Sunday, sell on Monday" rivalry with Mercedes.