I know this doesn't completely relate to investment banking, but I am interested in how one might go about setting up a private bank in the UK. What I mean by set up is the actual steps and procedures one would have to follow to put in place all the correct systems to have a fully operational private bank. Assume that licenses have been taken care of, as it is possible to passport banking licenses within the EU.
I assume you would need compliance teams, IT teams and more, but I'm struggling to find some sort of framework or historic evidence/experiences on the internet.
Would be grateful for any help.
Might I suggest consulting a team of finance lawyers and accountants. I highly doubt anyone has the specific expertise, much less the desire to provide a length outline on a message board, of how to set up a private bank.
Why don't you define exactly what you're looking for. This actually might make it easier to have a discussion instead of assuming many things on a high level that may not be what you're looking for.
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