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Prof. Paul Sudnik

Munich University of Applied Sciences, Germany

Under my editorship the International Journal of Social Science and Humanity will be centered around the idea of new and emerging IT advancements geared towards finding solutions in tackling the problems and challenges that we face in the 21st century.

Home> Archive> 2014> Volume 4 Number 4 (Jul. 2014)
IJSSH 2014 Vol.4(4): 254-259 ISSN: 2010-3646
DOI: 10.7763/IJSSH.2014.V4.358

Regaining Loyalty in Wealth Management: An Empirical Behavioural Inquiry in the Geneva Private Banking Sector

Philip Edward Chowney and Emmanuel Fragnière

Abstract—The Geneva Private Banking sector has suffered two major shocks in the past five years. The financial crisis and the end of the Swiss banking secrecy have presented this highly sensitive area of service with a new challenge: how to regain their disillusioned customer’s faith. The time has come to reconsider what the client needs in terms of service in order to re-establish long term loyalty between banks and their clients. Using ethnomethodology as our research tool, we have been able to study behavioural issues involved in this relationship, as opposed to articulated and codified professional standards. Having interviewed sixty people, half of which are wealth managers, half of which are clients, we were able to make tangible the essence of this tacit knowledge leading to loyalty in private banking. The results of our research draw us to believe that service delivery primes over that of financial gain in terms of performance perceived by the client. The ultimate aim of our research is to provide insights into how behavioural aspects of the wealth management experience may be improved.

Index Terms—Wealth management, loyalty behaviour, financial crisis, banking secrecy, tacit knowledge.

Philip Chowney is with the Haute Ecole de Gestion de Genève, 1227 Carouge, Switzerland (e-mail: pchowney@ bluewin.ch).
Emmanuel Fragnière is with the University of Bath, England and the Haute Ecole de de Gestion de Genève, Switzerland (e-mail: manu.fragniere@gmail.com).

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Cite: Philip Edward Chowney and Emmanuel Fragnière, " Regaining Loyalty in Wealth Management: An Empirical Behavioural Inquiry in the Geneva Private Banking Sector," International Journal of Social Science and Humanity vol. 4, no. 4, pp. 254-259, 2014.

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