Last year Bank Julius Baer launched the first Private Bank Contest. The participating teams were asked to describe how their future private banks look like. The response was excellent, and the participating concepts creative, visionary and innovative. At the end of December 2011 the final with five participating parties took place under the watchful eye of a judging panel. Two of the presented ideas were outstanding and won the first Private Bank Contest.
From social media to the wealth cloud
'Towards a global advisor' from Alexander Barclay and Guillaume Banderet (University of St. Gallen, HSG) and 'Wealth cloud' from Olga Motovilova and Ennika-Anneli Võrk (University of Zurich) convinced the judging panel: Barclay / Banderet showed how social media activities could be applied to support the four pillars of the future private banking: business model, products and services, client relationship and communication. Motovilova / Võrk on the other hand presented their 'Wealth Cloud', an online platform which covers all banking fields to enable the clients to communicate directly with the bank as an institution rather than depend on the relationship manager and thus strengthening the relationship with the bank.
Both winning teams were awarded with 60 Julius Baer shares each and a granted job interview with Bank Julius Baer. All finalists received a certificate for their application documents.
Yves Robert-Charrue, CEO Switzerland and head of the judging panel, commented enthusiastically: “We are at the beginning of a new banking era, and this changing environment creates new ways and opportunities for the future private banking. The participating students helped us understand what the needs and expectations of the next client generation are, and in this manner we have the possibility to advance young talents. The concepts presented by the participating students are on a highest level.”
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