In a global ranking of the social media presences of the world’s top 50 banks Citibank comes out as winner, but two-thirds of the surveyed banks still fail to grasp the opportunities of social media such as Facebook and Twitter.

Kreuzlingen, Switzerland -- (SBWIRE) -- 04/28/2012 -- Only a small group of the world's leading banks have finally grasped the opportunities of social media such as Facebook and Twitter. This is a main finding in a new analysis of the social media presences of the world's top 50 banks, conducted by Swiss research company MyPrivateBanking. In the ranking Citibank comes out as winner with an outstanding 47 points out of a maximum of 50. Runners up are BBVA of Spain and the National Australia Bank (NAB) with 44 points each, followed by Credit Agricole and Deutsche Bank with 43 points.

According to the report, "Social Media for Banking 2012", this small group of social media leaders in the banking sector have each managed to build an excellent social media presence reaching across all the important social networks and across global markets, and also including their own websites. A success built on an integrated global social media strategy, in most cases executed by a globalvteam of social media specialists. Following behind this group of social media leaders are the social media discoverers. A group which includes about 40% of the analyzed banks and is defined according to MyPrivateBanking by their offers of some basic elements of social media, for instance a Facebook presence or a Twitter stream to communicate with their customers and the general public. But these banks have failed so far to build an integrated and strategic approach to social media. Quality between the various presences varies substantially and the messages often conflict.

Although social media have been around for a number of years now, a disappointing third of the benchmarked global banking players still only attain half of the maximum points or even less. This substantial proportion of leading banks worldwide, labeled as social media laggards by MyPrivateBanking, miss out on leveraging the new opportunities provided by social media. They only present on some social networks and even then design and content often leave a lot to be desired.

"We see a widening gulf between a handful of banks worldwide, leveraging social media extremely well to serve existing as well potential customers, and the majority of banks still struggling with the new platforms", says Steffen Binder, Research Director of MyPrivateBanking. "These banks need to catch up fast or they will lose a new generation of clients".

The critical weaknesses that the MyPrivateBanking report identifies for more than two-thirds of the banks are:
- The majority of banks evaluated are still lacking an integrated and strategic approach to social media. For instance, only 16 banks have meaningful content on all the analyzed leading social network
- In most cases, social media are not up-to-date. For instance, social media on bank websites are only in seven out of 50 cases fully up-to-date, defined as the latest content on each blog or videocast etc being no older than 1 week.
- Facebook, as the most important social network, is still the weakest link for most banks. On average, banks reach only 60% of the total possible points for their Facebook presence in the MyPrivateBanking benchmark.

In order to catch up with the leaders in social media development, MyPrivateBanking recommends that the top management of every leading bank should beinvolved in determining the right strategy. Once a clearly defined strategy is in place, a dedicated social media team is needed to execute it, ensuring that the message the company wants to send is communicated in a effective way across all channels and markets. MyPrivateBanking's report makes clear that each bank must have a presence on Facebook, Twitter, LinkedIn, Youtube and Google Plus and that these presences require frequent updates with lively comments, videos, photos and other content to captivate the user. In addition, increasingly, users expect direct customer support through social networks like Facebook and Twitter, where they're posting questions and complaints and expecting timely responses.

Taken as a whole, the analysis in the new report demonstrates a clear overall improvement in social media use by banks compared to the results of previous MyPrivateBanking surveys, but still a lot remains to be done. "For the vast majority of banks, room for improvement is still extensive and the quality of online presences fails to match the importance of social media as a communication tool by a wide margin", comments Steffen Binder, summing up the current state of social media in the banking sector. "The good news for banks is that, in social media, changes requiring relatively little effort can achieve big improvements."

Top 10 Banks with the best social mobile presences (max. 50 points): CITI Bank (47p.); Banco Bilbao (44p.); National Australia Bank (44p.); Credit Agricole (43p.); Deutsche Bank (43p.); ING Bank (42p.); Rabobank Group (42p.); Standard Chartered (42p.); Wells Fargo (42p.); BNP Paribas (41p.).

About the report:
The report "Social Media in Banking 2012" analyzes in detail the strengths and weaknesses of the social mobile presences of the 50 largest banks worldwide. In total almost 250 social media presences were evaluated along 33 criteria; for each bank and it's social media presences the quality of the content and functionality as well as the integration with the website is rated. For further information on the report please check our website.

Banks Analyzed:
ABN AMRO, ANZ Bank, Banco Bilbao V.A., Bank of America, Bank of China, Bank of Montreal, Barclays, BB&T, BNP Paribas, BNY Mellon, Bradesco, Caisse d`Epargne, CIBC, CITI Bank, Coutts Private Bank, Credit Agricole, Credit Suisse, Danske Bank Group, DBSBank, Deutsche Bank, Erste Bank/Sparkasse Oesterreich, Goldman Sachs, HSBC, ICICI, ING Bank, Intesa Sanpaolo, Itau Bank, J.P. Morgan, Julius Baer, Lloyds Banking Group, Merrill Lynch, Mitsubishi UFJ Financial Group (English Service), Morgan Stanley, National Australia Bank, Nordea, Pictet, PNC Financial Services Group, Rabobank Group, Royal Bank of Canada, Royal Bank of Scotland, Santander, SEB Bank, Societe Generale, Standard Chartered, Suntrust, Toronto Dominion, UBS, Unicredit, US Bank, Wells Fargo

About MyPrivateBanking Research
MyPrivateBanking Research is an independent research firm. Established in 2009 in Switzerland, we specialize in research and analysis on how financial services firm should develop their websites, social media presences and mobile apps to best serve existing customer and to win new clients. We offer our insights in comprehensive reports as well as customized research, workshops and presentations. For further information please check myprivatebankingresearch.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Majority of Banks only offer basic features – Security big weakness

Kreuzlingen, Thurgau -- (SBWIRE) -- 03/27/2012 -- Of the 10 most important features user expect of their banking mobile apps,for only three is provision by the banks adequate. This is a leading finding of a survey by MyPrivateBanking Research,in which the Swiss research company compared the features integrated into the mobile apps from world's 50 top banks with the needs voiced by the users of banking apps.

Besides obligatory basic features such as online banking and a Branch/ATM-finder, the most important features for users include a range of transaction tools for brokerage, state-of-the-art direct interaction channels with the bank and advisor and, of course, appropriate security features. Of less importance to the users are the availability of financial planning tools, company information or research libraries. 'Users of banking-apps are early-adopters and to really score with their clients, banks have to offer more than online banking', explains Steffen Binder, Research Director of MyPrivateBanking.'Interaction and social media features are must-haves to keep and win the new generation of clients'.

The top ten list of most popular banking-app functions is as follows: Account overview: 94%; Online bankin: 84%; Branch and/or ATM finder: 84%; Market information: 64%; Securities brokerage: 40%; Product and service offerings: 36%; Direct contact to financial advisor (e.g. chat, messaging function,): 36%; Video- or Podcast: 32%; Full Security (encryption, password and username safety measures): 30%; Link with Facebook presence: 18%

However, the MyPrivateBanking analysis of the mobile apps offered by the world's 50 top banks shows significant short-comings when compared to the list of the features desired by users. Only the most basic functions such as an account overview and Branch-/ATM-finder are offered by more then 80% of the banks.

Other core banking services such as brokerage are offered by only 40% of the banks and even fewer banks incorporate online communication channels and social media features into their apps. 'We see a big mismatch between what users expect from their banking apps and what banks offer', is how Steffen Binder summarizes the benchmarking results. 'Banks need to start now with integrating not only all banking services, but also with opening up their apps to each client's preferred medium of communication, be it e-mail, Facebook, Twitter, or any other communication channels.'

The single most disappointing finding of the survey is the shortcomings in the security features of mobile apps. Despite the high sensitivity of the data, only 30% of the banks offer appropriate safety measures. MyPrivateBanking Research warns banks with sub-standard security features that they run the risk of loosing out in terms of users' regard, no matter how good their apps' other features are.

About the Survey
MyPrivateBanking identified the 10 most highly prized banking-app features through interviews with users of banking apps and analyzed the apps offered by the world's top 50 banks to determine how many offer the desired features.

Banks Analyzed: ABN Amro, ANZ Bank, BBVA, Bank of China, Bank of Montreal, BNY Mellon, Barclays, BB&T, BNP Paribas, BofA, Bradesco, Caisse d'Epargne, CIBC, Citibank, Clariden Leu, Commerzbank, Credit Agricole, Credit Suisse, Danske Bank, DBS Bank, Deutsche Bank, Dexia, Erste Bank, HSBC, ING, Intesa Sanpaolo, Itau Private Bank, J.P. Morgan, Kotak Mahindra Bank, Merrill Lynch, Mitsubishi UFJ Financial Group, National Australia, Nordea, PNC, Postbank Deutschland, Rabobank Group, Royal Bank of Canada, Royal Bank of Scotland, Santander, SEB, Societe Generale, Sparkasse Deutschland, Standard Chartered, Suntrust, Toronto Dominion, UBS, UniCredit, Volksbank Deutschland, Vontobel, Wells Fargo.

About MyPrivateBanking
MyPrivateBanking is an independent research company, serving its global clients with research and advice on how financial services firm should run their websites, social media presences and mobile apps to stay ahead in a fast developing market environment. MyPrivateBanking provides its evaluations and recommendations in comprehensive researchreports, customized research and events. For further information please check www.myprivatebanking.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Echoes of the dotcom bubble - same underwriting banks, business models and promises might lead to same, disastrous results

Kreuzlingen, Thurgau -- (SBWIRE) -- 07/13/2011 -- Private investors should be skeptical about investing in the new wave of initial public offerings (IPOs) for internet companies' stocks. This is the main conclusion of new research by MyPrivateBanking, for which the Swiss researcher compared the main players, mechanisms and results of the late 1990s/early 2000s dot-com bubble with the newly developing wave of Internet IPOs, mainly Chinese internet companies and social networks.

In particular, wealthy clients of the banks leading these IPOs should be on the alert if they are offered the chance to participate in IPOs orchestrated by their bank. It's common practice for the investment banking division and wealth management division of large banks to collaborate to distribute IPO stock among their wealthy individual clients. For the investor a somewhat risky investment and dubious practice in the opinion of MyPrivateBanking, which has subjected a list of the top ten high-profile, value-losing dot-com IPOs to a detailed review. In not one single case did investors – over the long term – make a profit from the IPO. In 60 per cent of cases investors lost all or almost all of their assets. Besides these 10 listings there were many IPOs of lesser known companies, now long gone and forgotten by all except the investors who lost a lot of money.

Top 10 High-Profile, Value-Losing Dot-Com IPOs incl. Performance since IPO and lead underwriters

1. Webvan / Bankrupt / Goldman Sachs
2. eToys.com / Bankrupt / Goldman Sachs
3. The Globe.com / -99% / Bear Stearns
4. Pets.com / -99% / Merrill Lynch
5. Think Tools / -98% / Vontobel
6. Barnesandnoble.com / -83% / Goldman Sachs, Merrill Lynch
7. Deutsche Telekom / -76% / Goldman Sachs, Deutsche Bank
8. Vonage / -73% / Citigroup, UBS, Deutsche Bank
9. Lastminute.com / -57% / Morgan Stanley
10.InfoSpace / -39% / Hambrecht & Quist

"A central role for the irrational exuberance of the dot-com bubble was played by IPOs for almost unknown companies with, relative to their valuation, little in the way of revenue or profits, if there were any profits at all", states Steffen Binder, Research Director of MyPrivateBanking. "Looking at the balance sheets accompanying, in particular, the recent IPOs of social media ventures and Chinese Internet companies, we see a lot of similarities that should worry an investor."

These similarities don't end with the sky-rocketing valuations. According to MyPrivateBanking Research, many of the investment banks that lead-managed issues in the dot-com bubble crop up again when looking at 16 of the most prominent Internet and social media IPOs since December 2010: Morgan Stanley is among the lead underwriters in 50% of cases; Deutsche Bank and Credit Suisse were part of the lead underwriters in 31% of cases; Goldman is among the lead underwriters in 25 % and BofA Merrill Lynch in 19% of the cases.

"Of course there have been successful Internet IPOs as well, but we see the risk-reward relationship as far too unpredictable and disadvantageous for private investors", explains Christian Nolterieke, Managing Director of MyPrivateBanking Research. There is a substantial risk for investors that the mix of the same major players, mechanisms and promises that were seen in the last tech boom eventually leads to the same, disastrous results." MyPrivateBanking recommends that private banking clients be skeptical when offered an opportunity by a bank to participate in an IPO of an internet related company. Investors should, at a minimum, thoroughly check the business model, sustainability of revenues and profits and ask the offering bank some searching questions, for instance, about its underwriting history and how many shares remain with the newly listed company's founders and original investors.

For the full research brief, including the table on the most important social media and Internet IPOs in 2011/2012 incl. the lead underwriting banks, please visit our homepage.

About MyPrivateBanking
MyPrivateBanking is an independent research and networking platform for wealthy private clients and wealth managers across the world. Established in 2009 in Switzerland, MyPrivateBanking offers a variety of information to assist investors and providers in making their decisions. This includes in-house research by MyPrivateBanking Research, articles and updates related to wealth management, detailed bank directories and client evaluations of wealth managers across the world. The interactive "MyWealth" online network allows the clients looking for wealth managers to get in touch with one another and exchange experiences. MyPrivateBanking.com aims at making wealth management more transparent, more cost effective and giving it a greater client focus. For further information please check http://www.myprivatebanking.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

The findings of a new research by MyPrivateBanking Research are disappointing. Only half of the major banks and wealth managers offer mobile applications at all, but fewer still are those that offer applications that aren’t related to online banking.

Kreuzlingen, Thurgau -- (SBWIRE) --06/01/2011 -- New research by MyPrivateBanking Research finds that only half of the world's 30 most important banks and wealth managers offer mobile applications for their clients. Even worse, only three providers (10%) go beyond applications related to online banking. Astonishing results, given that mobile phones and tablet computers are rapidly growing as an online interface for banking and wealth management clients.

Only 15 banks (50%) out of a total of 30 offered mobile applications at all. No more than six banks (20%) could come up with mobile apps that included functionality that was not available on their own websites. A mere three banks offer applications that go beyond pure online banking or account checking functionality and provided features such as smart, location based services. None of the banks offer a comprehensive mobile application with real time access to the client´s portfolio, financial research and specific mobile functionalities such as financial planning tools with the capability of being personalized by the client. The best mobile app identified by MyPrivateBanking comes from Standard Chartered Singapore, which offers a wide range of services, from the standard location service of the nearest branch/ATM, with location based maps, to viewing account and credit cards details, to transferring funds and paying bills with an electronic check.

MyPrivateBanking views the slow adoption by banks of the opportunities of the mobile technologies as a consequence of their general reluctance to embrace new technologies and client interfaces, which to a similar extent characterizes their website and social media offerings. "Too many banks miss out on mobile technology to serve their clients, be it out of ignorance, misjudgement or slow internal decision-making and execution processes," argues Christian Nolterieke, Research Director of MyPrivateBanking. "Meanwhile other providers do reach users with their financial applications and push the banks aside, particularly in respect to real-time information and relevant research".

"Banks could become one of the information hubs for their clients in the mobile world if they overcame this narrow view of new technologies", says Steffen Binder, Research Director of MyPrivateBanking. "With offerings that not only included personalized information for their clients but also social networking and financial planning tools." MyPrivateBanking recommends that all banks and wealth manager offer easy-to-use and safe online-banking applications as soon as possible and then build around them a mobile information hub with all the data and features of interest to the client. In this way they can distinguish themselves from the competition, gain more information about client needs and deepen their relationship beyond purely transactional business.

Analysed Mobile Application Offerings:

ABN AMRO, Banco Santander, Bank of New York Mellon, Barclays, BNP Paribas, Citigroup, Commerzbank, Coutts, Credit Agricole, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, ING Group, Julius Baer, Kleinwort Benson, Lombard Odier, Merrill Lynch, Morgan Stanley, Nordea, Pictet, RBS Coutts, Rothschild, Sal. Oppenheim, Standard Chartered, Societe Generale, UBS Switzerland, UniCredit; U.S. Trust, Wells Fargo.

About MyPrivateBanking
MyPrivateBanking is an independent research and networking platform for wealthy private clients and wealth managers across the world. Established in 2009 in Switzerland, MyPrivateBanking offers a variety of information to assist investors and providers in making their decisions. This includes in-house research by MyPrivateBanking Research, articles and updates related to wealth management, detailed bank directories and client evaluations of wealth managers across the world. The interactive "MyWealth" online network allows the clients looking for wealth managers to get in touch with one another and exchange experiences. MyPrivateBanking.com aims at making wealth management more transparent, more cost effective and giving it a greater client focus. For further information please check www.myprivatebanking.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Only 22% of providers offer data on fees; 10% publish performance figures

Kreuzlingen, Thurgau -- (SBWIRE) --05/24/2011 -- New research findings by MyPrivateBanking Research reveal that only 10% of the world's most important wealth managers publish performance data for their discretionary accounts (accounts for which the holder gives the wealth manager or bank authority to buy and sell securities at their discretion) and only 22% offer specific information about their fees. These results are based on an analysis of the public websites including all reporting documents that the 40 largest wealth managers worldwide publish online.

These private banks and wealth managers typically manage clients' assets through defined mandates in discretionary accounts (often labeled "conservative", "balanced" or "growth") that are very similar to the investment strategies of mutual funds. In both investment approaches the investment decisions are completely in the hand of the wealth manager or private bank. However, while most countries require extensive transparency on mutual funds such as performance data after fees, the total expense ratio, twice-yearly publication of fund holdings, the benchmark index, there is very little disclosure to the public on the discretionary accounts by private banks and wealth managers:

Non-transparent wealth management fees:

• 35% of analyzed banks and wealth managers discuss the costs and fees of wealth management in general terms.

• 22% give some quantitative information about fees.

• Only 18% offer precise, quantitative information on various wealth management fees.

Lack of performance data:

• A mere 13% of analyzed private banks discuss the topic of their performance in general terms.

• 10% offer some quantitative data on their discretionary accounts' performance.

• Only 8% offer a 3-year track record (or more) on the performance of their discretionary accounts.

In MyPrivateBanking´s view, wealth managers are acting in a comparable role to fund managers when managing their clients' wealth through discretionary accounts. Consequently they should offer the same level of transparency to the public. "Banks and wealth managers should publish basic data on the performance and cost of their discretionary accounts. This data is important for potential and existing clients wishing to compare and benchmark their current banks with other providers and in order to find the best provider", comments Christian Nolterieke, Research Director of MyPrivateBanking.

MyPrivateBanking recommends that banks and wealth managers be much more transparent about their core services of investment management. They should use the Internet as an effective communication channel for disclosure and distinguish themselves form competitors by a high level of transparency. "Banks can show that they have an edge in managing investments by disclosing their track record on discretionary accounts. Over the long term it is just a question of whether banks will become more open voluntarily or if regulators are going to have to come up with mandatory disclosure standards", adds Steffen Binder, Research Director of MyPrivateBanking.

A positive example for fee transparency is Deutsche Bank that publishes a comprehensive list of wealth management fees on its public website. Standard Chartered sets a benchmark with a monthly updated portfolio review on its various wealth management mandates.

Analysed public websites:
ABN Amro, ANZ, Banco Bilbao Vizcaya Argentaria, Bank of NY Mellon, Banque Pictet, Barclays, BNP Paribas, Citibank, Clariden Leu, Coutts & Co, Credit Agricole, Credit Suisse, DBS Bank, Deutsche Bank, Erste, Goldman Sachs, HSBC, ING Groep, Itau Private Bank, J.P. Morgan, Julius Baer, Kleinwort Benson, Kotak Mahindra Bank, Lombard Odier, Macquarie, Merrill Lynch, Morgan Stanley, Nordea, RBS Coutts, Rothschild, Royal Bank of Canada, Sal. Oppenheim, Santander, SEB, Societe General, Standard Chartered, U. S. Trust, UBS, Vontobel, Wells Fargo.

About MyPrivateBanking
MyPrivateBanking is an independent research and networking platform for wealthy private clients and wealth managers across the world. Established in 2009 in Switzerland, MyPrivateBanking offers a variety of information to assist investors and providers in making their decisions. This includes in-house research by MyPrivateBanking Research, articles and updates related to wealth management, detailed bank directories and client evaluations of wealth managers across the world. The interactive "MyWealth" online network allows the clients looking for wealth managers to get in touch with one another and exchange experiences. MyPrivateBanking.com aims at making wealth management more transparent, more cost effective and giving it a greater client focus. For further information please check www.myprivatebanking.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Only 5% of assets stolen by 25 former dictators were frozen and only half of that finally restituted

Kreuzlingen, Thurgau -- (SBWIRE) -- 05/10/2011 -- The recent events in North Africa and the Middle East show once again that every time a dictator falls from power, governments, politicians and banks across the world announce that his, his family's and follower's assets in foreign countries will be frozen and later returned to the new, legitimate government. But the fact of the matter, according to a new report by the research company MyPrivateBanking, is that these announcements have only been paying lip service to the public demands for amends to be made. Only a small fraction, of 5% of stolen assets by dictators and corrupt politicians, is frozen and after often tortuous legal proceedings only about half of that is repatriated.

For the report "Billions without a Trace – Dictators´ Stolen Assets" MyPrivateBanking Research analyzed what became of the assets of the 25 most notorious dictators/corrupt politicians since 1990 after they were forced from office or left voluntarily. The overall sum of stolen assets by these 25, their families and associates is estimated at almost USD 140 billion. According to MyPrivateBanking, a very conservative estimate based on historic (not inflation adjusted) US dollar values. However, only a small fraction (5%) of stolen assets have ever been traced and frozen, and an even smaller fraction (2.4%) has been returned to governments and people who had been the victims of corruption and outright theft on the part of these former rulers.

MyPrivateBanking sees multiple reasons for these sobering results. In many cases the government and its agencies are not able to trace such assets as they are well hidden in a network of interlinked trusts, companies and associates who may not be directly linked to the former dictator. Furthermore, Western governments often don't have the political will to persecute former political allies, as their own collusion could be discovered in the process. For similiar reasons, in some cases, the new, legitimate governments in developing countries are not interested in laying claim to stolen assets.

Banks and wealth managers have also to bear a substantial part of the responsibility: due diligence with respect to the origins of investments by politically exposed persons often resembles, in MyPrivateBankings´ assessment, "going through the motions", in spite of the trend in many countries such as Switzerland, for the regulations to prevent money-laundering being strengthened considerably. But still in many instances checkboxes are ticked but the will and the wherewithal to untertake serious investigations are lacking even when suspicions have been raised. As a result dictators and their henchmen are given access to the legal financial systems. "An overwhelming proportion of assets linked to criminal activities of corrupt politicians and their entourages has been lost for ever, seemingly untraceable and unrecoverable", states Steffen Binder, Research Director of MyPrivateBanking. "Our numbers show, however, that once assets have been frozen or blocked there is a relatively high probability of final asset restitution to the country of origin."

The most important measure to improve the situation is, in MyPrivateBanking's view, that banks refuse problematic assets in the first place. Once assets have entered the legal financial system it is of utmost importance to trace them which requires a clear political will on the part of the government agencies and financial services firms involved but also the necessary resources (e.g. databases, human resources, investigative capabilities).

Over the last few years the international legal framework to counter money laundering has been considerably strengthened. MyPrivateBanking commends existing money laundering regulation for its good intentions but found that it has been relatively easy to circumvent the rules. "These illegally obtained and now hidden assets are a ticking time bomb for governments and financial services firms as they bear witness to past involvement with corrupt and criminal politicians and their associates." stresses Christian Nolterieke, Research Director of MyPrivateBanking. Therefore, it is in the interests of the banking industry, particularly wealth managers and private banks, not to wait for further regulation, but to actively devise and implement effective strategies to identify persons with a background of corruption, to refuse to receive their assets and to trace tainted money that may have already been invested with a bank.

About the report
MyPrivateBanking Research has analyzed what has happened to the assets of the 25 most important dictators/corrupt politicians since 1990 after they left voluntarily or were forced from office: Alberto Fujimori (Peru), Arnoldo Aleman, (Nicaragua), Augusto Pinochet (Chile), Benazir Bhutto (Pakistan), Carlos Menem (Argentina), Carlos and Raul Salinas (Mexico), Charles Taylor (Liberia), Daniel Arap Moi (Kenya), Felix H. Boigny (Ivory Coast), Ferdinand Marcos (Phillipines), Frederick Chiluba (Zambia), Gnasingbe Eyadema (Togo), Hosni Mubarak (Egypt), Jean-Claude Duvalier (Haiti), Joseph Estrada (Phillipines), Laurent Gbabgo (Ivory Coast), Mobutu Sese Seko (Democratic Rep of Congo), Mohamed Suharto (Indonesia), Moussa Traore (Mali), Omar Bongo (Gabon), Pavlo Lazarenko (Ukraine), Saddam Hussein (Iraq), Sani Abacha (Nigeria), Slobodan Milosevic (former Yugoslavia), Zine El Abidine Ben Ali (Tunisia)

About MyPrivateBanking
MyPrivateBanking is an independent research and networking platform for wealthy private clients and wealth managers across the world. Established in 2009 in Switzerland, MyPrivateBanking offers a variety of information to assist investors and providers in making their decisions. This includes in-house research by MyPrivateBanking Research, articles and updates related to wealth management, detailed bank directories and client evaluations of wealth managers across the world. The interactive "MyWealth" online network allows the clients looking for wealth managers to get in touch with one another and exchange experiences. MyPrivateBanking.com aims at making wealth management more transparent, more cost effective and giving it a greater client focus. For further information please check http://www.myprivatebanking.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

The new report of MyPrivateBanking GmbH shows that most private banking websites aren’t user-friendly and lack crucial information.

Thurgau, Switzerland -- (SBWIRE) -- 04/18/2011 -- The 2011 report on private banking websites by MyPrivatebanking Research finds that compared to the 2009 survey the overall quality of the private banking websites has not improved: less than half of the banks have mastered the basic requirements for a private banking website and, in particular, shortcomings in website content are seriously damaging the chances of winning clients online. Only a third of the websites offer even basic information on fees and costs and less than 10% of the websites surveyed disclose performance data for standard portfolios. "Potential clients aren't finding what really matters to them on private banking websites" criticizes Steffen Binder, Research Director of MyPrivateBanking. "Many banks love to show flashy presentations of the bank's venerable past. However, they avoid displaying critically important information such as fees and portfolio performance."

The private banking website of UBS stands out as a positive example and, for the second time in a row, wins the Global Award "Best Private Banking Website" by MyPrivateBanking. For the report "How Wealth Managers Can Win Clients Online" MyPrivateBanking Research benchmarked the websites of the world's top 40 banks. UBS wins with a total score of 84 out of possible 100 points. According to the report, the UBS private banking site has an excellent structure and navigation and also scores particularly well in relation to its integration of a wide range of interactive tools and social media features. Merrill Lynch and Deutsche Bank are tied at the second place, with 83 points each. While Merrill Lynch offers an outstanding search function and contact section, Deutsche Bank scores highly due to its use of social media and its client-friendly content. No other provider publishes its private banking fees online in as much detail as Deutsche Bank does.

The analysis and benchmarking of the private banking websites comes to the following conclusions:

• User-unfriendly navigation and structure: only a third of the providers achieved a decent standard of usability for their websites. One major trouble spot that often causes major problems is the search function: 60% of the banks are unable to provide the user with relevant search results for such important terms as "assets under management" or "headquarters".

• Lack of critical information for clients: while the majority of the private banking websites are strong on soft data, such as the description of services offered and the investment process, they have a serious lack of the hard data. Basic details of the amount of assets under management and the minimum investment sum are missing on almost half of private banking websites. Comprehensive data on costs and performance are disclosed only on a few websites

• Contact options strong, interactivity weak: the contact section is the strong point of most private banking websites. Nine out of ten websites offer various means of contacts, which the user can find easily. However, in spite of the fast growing importance of social networks such as Facebook and Twitter the integration of them on these websites is still very weak as is the integration of interactive tools.

• European providers leading in online presence: of the 15 websites of non-European providers surveyed only two are able to make it into the top 10.

"Banks that still believe more in the power of marble halls and exclusive events, and regard online channels as merely "nice to have" and a playground for gilded youth, will have a rude awakening," is how Christian Nolterieke, Managing Director of MyPrivateBanking, sums up the likley consequences for wealth managers of neglecting the internet.

According to the MyPrivateBanking report, the slow adaptation to the new online realities is all the more surprising as it wouldn't take much to improve the banks' potential to win new clients significantly. Simple measures such as including online information on fees and the performances of standard portfolios would increase the credibility and brand differentiation of the private banking websites. By further integrating social media features, new client groups could be reached at low cost and websites would become a tool for dialogue with potential clients rather than merely an online brochure.

Top 10 Private Banking Websites (overall 40 banks ranked, maximum score 100 points, average points 65): 1. UBS (84), 2. Merrill Lynch (83), 3. Deutsche Bank (83), 4. Credit Suisse (82), 5. Banque Pictet (77), 6. Barclays (74), 7. Credit Agricole (74), 8. Julius Baer (73), 9. Societe Generale (72), 10. Royal Bank of Canada (72).

About the report
This report "How Wealth Managers Can Win Clients Online" analyzes in detail the strengths and weaknesses of the private banking websites of the 40 largest private banks and wealth managers worldwide. Based on 50 criteria grouped into three main categories of evaluation, the report benchmarks the user-friendliness of the websites, the quality of the content and the contact options and interactivity offered by each bank.

Private Banking Websites Analysed
ABN Amro, ANZ, Banco Bilbao Vizcaya Argentaria, Bank of NY Mellon, Banque Pictet, Barclays, BNP Paribas, Citibank, Clariden Leu, Coutts & Co, Credit Agricole, Credit Suisse, DBS Bank, Deutsche Bank, Erste, Goldman Sachs, HSBC, ING Groep, Itau Private Bank, J.P. Morgan, Julius Baer, Kleinwort Benson, Kotak Mahindra Bank, Lombard Odier, Macquarie, Merrill Lynch, Morgan Stanley, Nordea, RBS Coutts, Rothschild, Royal Bank of Canada, Sal. Oppenheim, Santander, SEB, Societe General, Standard Chartered, U. S. Trust, UBS, Vontobel, Wells Fargo.

About MyPrivateBanking
MyPrivateBanking is an independent research and networking platform for wealthy private clients and wealth managers across the world. Established in 2009 in Switzerland, MyPrivateBanking offers a variety of information to assist investors and providers in making their decisions. This includes in-house research by MyPrivateBanking Research, articles and updates related to wealth management, detailed bank directories and client evaluations of wealth managers across the world. The interactive "MyWealth" online network allows the clients looking for wealth managers to get in touch with one another and exchange experiences. MyPrivateBanking.com aims at making wealth management more transparent, more cost effective and giving it a greater client focus. For further information please check http://www.myprivatebanking.com.

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Banks need to cooperate with new Arab governments in returning illegally obtained assets. Wealthy individuals from the Middle East and Africa hold about USD 1.5 trillion in foreign bank accounts (offshore). The research firm estimates that at least 15% of these assets have been obtained illegally.

Thurgau, Switzerland -- (SBWIRE) -- 02/22/2011 -- According to a recent report by the Swiss research company MyPrivateBanking wealthy individuals from the Middle East and Africa hold about USD 1.5 trillion in foreign bank accounts (offshore). The research firm estimates that at least 15% of these assets have been obtained through illegal means or through taking advantage of government positions and transferred out of the home countries. The major part of this wealth is in accounts with European banks, which as a consequence of the ongoing pressure for corrupt regimes to be overthrown, face serious financial, legal and reputational challenges.

"Of course, the by far biggest share of the wealth of individuals from Middle East and Africa has been generated by legal means but a substantial proportion equaling a stunning USD 225 billion is estimated to be obtained through corruption and other illegitimate activities and diverted offshore." explains Steffen Binder, Research Director of MyPrivateBanking. "Over the decades these regimes have grown an entire ruling class consisting of family, friends, businesses, security forces and secret service that have transferred significant wealth out of their home countries."

MyPrivateBanking research estimates that 41% of Middle Eastern and African offshore wealth lies in EU countries such as the UK/Channel Islands and Luxembourg, 33% in Switzerland, 8% in the Far East (notably Singapore) with the remainder in North America and other destinations like the Caribbean.

As has happened many times after the overthrow of a dictatorial, corrupt leadership, the new governments in Tunisia, potentially Egypt and a number of other countries will in all likelihood start criminal proceedings against the former ruling families and their adherents. In the assessment of MyPrivateBanking Research this could become a critical situation for a number of private banks and wealth managers who have been personally and financially heavily involved with the Middle Eastern and African political elites around the world. The reputation of affected banks could be damaged if such legal proceedings become public. There is also a risk that the rightful owners (the new governments) demand compensation for losses arising from the negligence of financial institutions.

Therefore, MyPrivateBanking Research emphasizes the utmost importance that private banks and wealth managers take an active stance now to develop a tough and resilient strategy to deal with this challenge. They need to pro-actively check the background of firms and persons who could be involved with corruption. "If in doubt about the origin of the assets or the credibility of the account holder – don`t accept them.", Steffen Binder summarizes the imperative for banks in dealing with assets of dubious origin. "And if the control systems failed in the past, banks now have every incentive, as well as a moral obligation, to co-operate with the new, legitimate governments in countries such as Tunisia and Egypt to start swift proceedings to return funds in accordance with law."

The MyPrivateBanking Research Brief "What the Arab Revolution Means for Private Banks and Wealth Managers" can be downloaded on our homepage.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm