Private banking goes onshore

As local market infrastructure strengthens in EMEA countries, private banking is increasingly going onshore. So will western offshore centres  lose out? Julian Evans reports.

Private banking is booming, and nowhere more so than in emerging markets. Catherine Tillotson, head of research at Scorpio Partnership, which is a private banking consultancy firm, says: “Our evidence suggests last year was an excellent year for private banks, and that most of the growth came from emerging markets.”