Swiss private banks have been on the defensive for a decade. We think the time has come to go on offense through commercially-driven transformation. By focusing on their strengths, and partnering for their non-core activities, Swiss private banks have a real opportunity to maximize value and grow again.
Which talents are needed and how can companies ensure that they have these experts on board in the near future? The majority of CEOs surveyed abroad for the KPMG CEO Outlook expect about 5 percent of positions in their companies will be lost to automation within the next three years. Swiss CEOs are much less gloomy and find this scenario rather implausible.
10 percent of private banks did not survive 2015. KPMG’s joint study with the University of St. Gallen finds that many banks’ efforts to adapt their business and operating models to the new environment have proven insufficient. Despite trying to turn around their performances, many banks face a stark reality - they can’t survive.