Private bankers are net beneficiaries of turbulent financial markets, Stuart Crocker, HSBC Private Bank chief executive for Oman, United Arab Emirates, said at the weekend.

"In times of volatility, investors turn to their private banker for advice in terms of short term money management and long term investment opportunities," Mr Crocker told Zawya Dow Jones in an interview on the sidelines of the World Economic Forum in Jordan.

Mr Crocker said that last year was profitable but 2009 is going to be challenging due to great volatility in the markets.

"There's no one option for all clients. Solutions are tailor-made, based on the profile (risk tolerance and risk objectives)," said Mr Crocker. "What's important is to bring back confidence to the markets."

He said asset classes HSBC is currently recommending include capital guaranteed equity index structures, short-term corporate, sovereign bonds and residential real estate in prime locations such as London and Manhattan.