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EXCLUSIVE: Citi Private Bank: Reaping Rewards From Client Feedback

Wendy Spires, Group Deputy Editor, London, 13 May 2013

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Joss Mitchell, head of UK business development Citi Private Bank, and Tim Tate, global head of client experience, explain how the bank’s “Voice of the Client” initiative has rapidly gained traction among both staff and clients.

This case study forms part of WealthBriefing’s latest research report, The New Normal: Codifying Superior Client Experience In Wealth Management, which was produced in association with Barclays Wealth and Investment Management and will launch on 15 May. To mark the launch, a webcast featuring senior executives from Barclays and others has been produced discussing headline findings, and access to both this and the report itself will be free as part of WealthBriefing member benefits.

Here, Joss Mitchell, head of UK business development Citi Private Bank, and Tim Tate, global head of client management, explain how the bank’s “Voice of the Client” initiative has rapidly gained traction among both staff and clients.

Many believe that cash-rich, time-poor HNW clients simply cannot be bothered to fill in questionnaires on the performance of their wealth management provider. But, according to Tate, this is an “absolute fallacy” and clients are only too keen to make their views heard – as long as the right process is put in place and clients believe that their feedback will be acted upon.  Far from being met with indifference, Citi Private Bank has actually seen a “fantastic” client response to its requests for feedback and these insights are proving invaluable to the business, said Tate.

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