Acquisition effects in private banking: avoiding client losses Online publication date: Fri, 01-Apr-2016
by Stefan K. Finken; Hans Ruediger Kaufmann; Gerald Robin Bown
J. for Global Business Advancement (JGBA), Vol. 9, No. 2, 2016
Abstract: The credit crunch of 2009 has had significant impact on financial services, and the effects on customer service are only now becoming apparent. Private banks offer a custom-made and individual financial service with a close personal relationship between customer and bank. During a process of acquisition a significant percentage of an acquired private bank's client base is lost and, therefore, client retention is important in this context. This paper takes notice of this circumstance during the credit crunch when unplanned acquisitions were occurring. It uses a qualitative content analysis and interview data. Although the owners of the bank have changed, the bank is urgently advised to design sustainable client relationships based on the knowledge of their clients' perceptions. The paper proposes a new model of private banking consumer perception that identifies determinants of client migration. This model will be of use for researchers and practitioners in this area of management.
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