For Wealth Management & Private Banking advisors, personal relationships with clients are essential. During the last year we had to figure out new ways to stay in touch without being present. Discover more about WM&PB’s experience in Italy, Germany and Austria.

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Moving WM & PB events online in Italy

In Italy we were suddenly forced to cancel all in-person events, which were a vital part of our customer relationship program and re-imagine our meeting opportunities as online events. Even in a digital format, the events organised by Cordusio, UniCredit's Wealth Management boutique, were effective in creating a chance to share information and to discuss markets and finance, the evolution of the real estate market, art, and taxation issues. For example, Cordusio launched Sistema Italia, a series of meetings with Italian entrepreneurs and opinion leaders, with for example Brunello Cucinelli, Enrico Letta and Maria Grazia Chiuri.

Private Banking created TALK PB ITALY, a series of digital events, to update clients on current issues, such as: the Recovery Plan; geopolitics and new China/USA balances in collaboration with TEH Ambrosetti; sustainability and ESG investments with B Corporation companies, such as Olio Carli Spa; the recovery of the real estate market with think tank Nomisma; and many others.

Thanks to the Grand Tour and Art Talk events, we were also able to invite clients to exclusive art exhibitions, by organizing guided tours online. We virtually accompanied our clients to museums, closed during the pandemic, and private galleries. Moreover, we organized exclusive previews of online auctions with Christie's and Sotheby's. Overall, last year over 14,000 WM & PB clients participated in digital events.



Successful teamwork from remote in Austria for wealthy clients

Together we have managed to keep our business running at full capacity, while supporting our customers in the best possible way. Wealth Management Austria in Premium Banking and Schoellerbank (Wealth Management Austria), and all our colleagues, have shown once more that, whatever happens, we never leave any customer, any colleague, any member of our communities on their own.

At Premium Banking and Schoellerbank, we managed to drive the evolution of our business forward, while keeping everyone safe. We were able to show that we are a reliable partner for our customers and to provide above-average support to the Austrian economy.

We all have experienced how Covid-19 accelerates the change of clients’ behaviors. Thanks to our joint efforts we will be able to keep up with them by continuously strengthening our multichannel and remote offerings.

Also, we managed to ensure business continuity, thanks to our investments in digitalisation and processes, as well as our joint efforts. Cooperation and teamwork were key.. We managed to shorten our distances, standing by each other with a renewed sense of belonging.



The view from WM&PB in Germany

From April 2020, WM&PB and PBK started remote trainings for all sales regions, based on rapidly improving the skills in using remote advisory tools and application of new sales flows to improve customer retention and sales despite increased physical distance. All WM&PB specialists immediately received tools they could use to advise WM&PB customers in virtual meeting rooms.

Also, the cooperation between the joint venture of WM&PB and UBK (the commercial bank) intensified, allowing WM&PB relationship managers to present their offering of private wealth management services to the commercial bank’s client base of entrepreneurs, despite customer distance and lack of face-to-face physical customer meetings.

In addition, a program of new innovative virtual events (i.e. exclusive events for WM&PB such as old-timer online events, sustainability events, wine tasting events, art events as well as online banking webinars and mobile banking webinars for private clients) was implemented, attracting a wide range of existing and prospective clients.

Thanks to the quarterly roadshows (VK-Calls) with all 7 Regions, attended by approximately 250 RMs and specialists, we dealt with a wide range of topics, from overarching strategy views to the most recent gamechangers (i.e., excess liquidity fee, OneWealth, ESG and the cooperation between WM&PB and UBK), as well as discussions of implementation of core initiatives in the next quartern.

The pandemic changed the way we do business, but it didn't stop us. None of this would have been possible without our Italian, German, and Austrian colleagues, who have always been on the front line, working constantly and with enthusiasm, in order to never let our customers down.