What Is Private Banking (PB)?

Private Banking (PB) is a form of wealth management service offered to ultra-high net worth individuals ($5mm and upwards). The services offered by a private bank will include:

  • Portfolio investment ideas
  • Wealth protection through asset investment such as gold
  • Tax avoidance advice
  • General financial planning including charitable donations, inheritance, retirement etc

There are some specific private banking firms, and most investment banks have a private banking service they can offer to their clients. Private Banking is considered to be a front-office role and people working in PB need to have extremely good interpersonal and client skills above all else, as relationships count more than almost anything else.

Related Terms

Return to the Finance Dictionary
Read Forum Topics About Private Banking

Start Discussion

Total Avg Compensation

October 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (39) $363
  • Associates (228) $232
  • 2nd Year Analyst (137) $154
  • 3rd+ Year Analyst (31) $147
  • Intern/Summer Associate (104) $143
  • 1st Year Analyst (501) $135
  • Intern/Summer Analyst (387) $83