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Regulations most significant hurdle to private banking profitability – study

Global regulatory pressures will continue to eat into private banks’ profit margins driving strategic, operational and cultural changes, according to PricewaterhouseCoopers’ (PwC) latest Global Private Banking and Wealth Management Survey 2013. Citing regulators’ heightened concerns over client suitability, operational risk, and cross-border taxation, the report finds that C-level leadership will need to drive cultural change within their organisations to rebuild…

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