Summit Notebook

What do Swiss ski resorts and private banks have in common? Rich customers. Bank Julius Baer has started to open private banking branches catering to wealthy clients at upscale ski resorts in Switzerland, says Chief Operating officer Boris Collardi.” We noticed that we were not in the most prestigious ski resorts,” Collardi explains, saying that many wealthy clients want to do business while on vacation, instead of having to make a detour to Geneva or Zurich to see a banker. Collardi calls these branches “White Spots”, located in upscale Swiss resorts such as Verbier and Crans Montana, for the super-rich who want to manage their money and have a soft spot for skiing, or may own holiday homes in the Alps. Collardi also said that the bank was increasing its recruiting from hotel schools to find and train private bankers who excel at providing fine service – on or off the slopes.