In an effort to provide people with up-to-date information finance personal and helping them make informed decisions in their daily lives, family economy, saving And investmentsINFORMATION and Banco Sabadell reunited in the new edition of “Easy Financing for the Domestic Economy”.
This program consists of four cycles of digital forums that will be held throughout the year and in which participants will participate. leading experts Purpose of Banco Sabadell’s different sectors? To ensure practical tools And valuable helping people manage their finances in the most efficient way possible.
This is the first cycle of digital forums, “Private Banking”It was published on the BİLGİ website yesterday and attracted the attention of an audience interested in learning about the secrets and opportunities this segment has to offer.
Banco Sabadell’s Eastern Region Private Banking Director Óscar Pérez attended this meeting hosted by INFORMATION Club director Toni Cabot and answered a number of key questions that shed light on the subject. new private banking model of the businessShared valuable information about challenges, challenges and expectations financial market futures.
remodel
Óscar Pérez started his speech with these words: renewal of the private banking model At Banco Sabadell. According to the expert, the review of this segment was carried out with the aim of improving the value proposition for customers in the new macroeconomic context introduced since the end of last year.
concretely, 300,000 customers selected, part of the retail banking segment, of which approximately 60,000 showed an interest in seeking advice for their business. saving And heritage. These customers are integrated into private banking, which represents a significant shift for this segment, both quantitatively and qualitatively. With this action, the number of private banking customers is around 93 thousand.”
Likewise, a sub-segmentation was made in private banking by taking into account the existing customers. assets of more than one million euros». This distinction is based on the need to access certain products and services that require minimal presence and aims to provide each customer group with an offer tailored to their needs and possibilities.
Regarding the organization of the new private banking model, Óscar Pérez explained that “the six existing regional departments in the bank are used, which allows the integration of commercial private banking personnel into each of these departments”. According to the expert, this structure sharpness within the organization and allows to present best possible value proposition to customers.
Likewise, he emphasized that it is one of the strengths identified and they are trying to take advantage of them. relationship between company and employer. “In this way, we work closely with the commercial network management. self-employment And little ones businessmen; with the segment big companies, where big businessmen and senior executives meet. This relationship is undoubtedly a growth engine for all parties involved.”
Organic growth and formation
when asked about growth through acquisitions or signatures, Óscar Pérez mentioned that Banco Sabadell is not currently considering growth through acquisitions, “because there are no corporate operations on the table at the moment and such an operation is not expected in the short term.” As for signatures, the private banking segment does not plan to make major contracts: “We think that we have a professionally trained staff not only in private banking but also in every field of the bank.”
According to network banker trainingBanco Sabadell’s head of Private Banking for the Eastern Region highlighted that almost all commercial personnel hold the MIFID certification required to legally advise. In addition, when it comes to individuals who are specialized in private banking, more than 90% only legally required trainingbut it also has a higher degree of proficiency.
Likewise, Pérez recently noted that progress in this training line continues and that staff Additional training in areas such as IDD and LCCIas well as other financial aspects of the world insurance And mortgage.
Agreement with Amundi
Óscar Pérez also commented on the agreement between Banco Sabadell and Amundi in the digital forum. It emphasized both qualitative satisfaction and the quantitative data that backed it up. alliance success.
attribution qualitative satisfaction, the expert assured that the alliance with Amundi provides an expertise and quality that was probably not available before. “recognized development important in the supply of funds because for the last two years 70% of the funds are in the first and second quarters. In addition, this rate increased to 84% in 2022. This means that the vast majority of investing participants Amundi funds outperforms other investment options,” he explained.
in terms of data paternal And producingÓscar Pérez shared impressive numbers. In 2021, net production in mutual funds reached 1,000 million euros to 3,000 million euros with the contribution of the market.
“It means, market grew by 4,000 million3,000 million corresponded to new money contributed by participants. Although the year 2022 is atypical and There was a significant drop in the markets., production remained at 1,000 million euros». That’s why Banco Sabadell managed to grow thanks to the alliance it made with Amundi despite the adversities, and they are very happy with this partnership.
Asset Allocation
Banco Sabadell’s Eastern Region Private Banking Director explained at the meeting how they create their asset allocations from the business: starting with a typical quantitative and statistical model, but also incorporating the bank’s view into the process. In other words, combining the “mathematically perfect” model with the bank’s vision and perspective for different markets.
All this information is then translated into a tailored recommendation for each client, taking into account their risk profile. That is, we have a model that starts with the “theoretical” adapts in a practical and personalized way according to the specific needs and specifications of each customer”.
digitization
Finally, the expert discussed one of the most relevant topics of the meeting: How digitalization affects private banking and developments that will take place in 2023. Banco Sabadell approaches digitalization in this segment from two perspectives.
First, the business tries to offer: best possible customer servicethis means that the banker’s job is done easier, faster and with less margin of error thanks to digitalization. Secondly, this process also focuses on improving the customer experience so that you can “make a decision and think you don’t need it”. recommendation You can get it from your banker as self-service, so you have an agile and easy system to access your information and make inquiries and to perform transactions yourself”.
Finally, the expert ended his speech by stating: scale change The studies they carry out in the private banking business line enable them to aspire to significant investments in the field of digitalization and improve many processes.
Risks and prospects for financial markets
Óscar Pérez, Banco Sabadell’s Eastern Region Private Banking Director, at the last meeting on “Private Banking” in the “Easy Financing for the Domestic Economy” cycle, risks and expectations Although he clarified that predicting the future in financial markets is uncertain, he identified two main risks: inflation And growth.
in relation to inflationThe expert pointed out that there is a risk that it will be difficult to control this and bring it to the levels desired by central banks. This could change the macroeconomic outlook and require higher or longer interest rate hikes than currently expected.
The second risk, arising in part from the actions of central banks, increase in interest rates may trigger a more pronounced recession or depression than expected. Although a mild recession is expected with a high probability in the United States and less certainty in Europe, Pérez thinks this is not a cause for concern, but that there is a risk that the situation will deviate towards a negative scenario.
Regarding the future of the markets, Pérez stated that overall good performance is expected. Waiting Returns positive both fixed income and variable income, but currently fixed income is considered to offer greater opportunities.
And the thing is, after a long time low or even negative interest ratesThe expert underlined that the recent increase in interest rates has created interesting opportunities in the fixed income market, while investors are making less money than they invested.
According to him, it is currently possible to obtain a diversified bond portfolio with medium-low risk and an expectation of 200 TL. cost effectiveness around 4%. This will make it possible to exceed the expected inflation for the next 3-4 years, a situation that has been rare in the last ten years.
As for the stock market, Good yieldhowever, the expert recommends waiting until the end of the year to make more stable bets.