Is the next generation willing to Bank with daddy’s banker? - Dr Silvio Struebi

Dr Silvio Struebi, Partner at Simon-Kucher & Partners discussed whether the next generation is willing to Bank with daddy’s banker.

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1. Is the next generation willing to Bank with daddy’s banker?

Video transcript

1. Is the next generation willing to Bank with daddy’s banker?

Yes, and no. We recently did a survey in Hong Kong and Singapore and we found out that 60% of today's millennials are not entirely happy with daddy's private banker. And that's a big challenge for the bank, to retain the loyalty of these customers, because these customers are better educated, they know the alternatives and they might give also a chance other banks or alternative investments, in a way that they might go for a robo, they do more online trading. It will be challenging

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