Wealth managers move into position for the upward swing

摘要

Wealth management groups have their own product specialities for different segments and geographical regions of the market. But there are more similarities than differences between them, believes Emilio Saracho, the head of private banking for Europe, Middle East and Asia (EMEA) at JPMorgan. "Investment banks have always been interested in wealth management," says Mr Saracho, a Spanish national, whose career has included stints at the investment banking divisions of both Goldman Sachs and Santander. "But wealth management is clearly gaining in importance. We work in herds. And when something is hot, we all move in the same direction."