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Expat Investor : May June 2009
PRIVATE BANKING recognition for its commitment to client service. It places considerable emphasis on developing close client relationships and the bank achieves extremely high levels of personal interaction, offering a single point of contact across its wide range of financial services. The main contact for clients is via an investment qualified personal or private banker based in our offices in London, Isle of Man or Jersey. The private bankers build long-term relationships with clients, and our extremely low staff turnover allows clients to feel confident their changing needs and attitudes to risk are always considered. In addition, the client services FAIRBAIRN PRIVATE BANK The key to Fairbairn Private Bank’s offering is its unique, integrated banking and investment service, Focus, which enables clients with at least £50,000, or currency equivalent in deposits and investments, to tailor a multicurrency account to meet their specific requirements. The integrated Focus service can embrace many optional investment facilities, ranging from execution only right through to fully bespoke discretionary services. By combining banking and investment requirements in one unified account, the service can offer a cost-effective and efficient way to manage your financial affairs. When it comes to investments, the bank advocates diversification and adopts a core and explore approach. The core is a multi-asset class investment portfolio that is suitable for a broad range of investors seeking to capture investment returns within a low to medium risk controlled environment. The explore element of the portfolio allows investors to build a satellite investment portfolio around the core and can provide access to sector specific themes, such as energy or precious metals for example. “The bank sees prudence, caution and wealth preservation as the key differentiators being sought by clients looking for a safe haven for their money in the current financial turmoil.” Access to the core and explore approach is available to clients with £250,000 or more to invest; however the core element alone can be accessed with a minimum investment of £100,000. Fairbairn Private Bank believes its clients’ needs are paramount and has won international May/June 2009 ● EXPAT INVESTOR 3 team of highly trained staff are happy to assist with any enquiry, particularly for those clients not attached to a private banker. Strict service levels are in place to maintain the bank’s personal approach: 96% of calls are answered within three rings and are dealt with by an individual without resorting to the usual automated call systems. Change is inevitable in current markets, but being small and flexible allows the bank to respond quickly to market conditions. The bank sees prudence, caution and wealth preservation as the key differentiators being sought by clients looking for a safe haven for their money in the current financial turmoil. After a recent annual assessment, the international credit rating agency Moody’s confirmed the bank’s stand-alone A3/P2 status. This provides an extremely powerful endorsement of the bank’s solid fundamentals and low risk profile. INVESTEC BANK (CHANNEL ISLANDS) Laura Preston, Client Services, writes: During the past six months, life has been undeniably tumultuous in the financial services sector. Given the continued uncertainty affecting many well-known banks, it has been an unsettling time for investors. In response, on 1 December 2008, Guernsey introduced a Banking Deposit Compensation Scheme, which provides compensation for “qualifying deposits” of up to £50,000 per individual claimant. In the case of joint accounts each depositor would be entitled. Investec Bank (Channel Islands) Limited (‘Investec’) has always had a highly conservative approach and maintains rigorous standards of risk management. Now more than ever the focus needs to be on providing clients with a steady, measured approach to ensuring their assets are as safe as possible. Continued on page 4
March April 2009