Private Banking Index Reaches New Milestone, Creates Advisory Committee

Stephen Harris

13 July 2006

FTSE Private Banking Index has now attracted 40 private banks and this coincides with the creation of an independent advisory committee to oversee the management of the index. The committee consists of investment managers. Providers of asset allocation information to the index include recent joiners such as Kredietbank Luxembourgeoise, Bank Vontobel, and Mirabaud, along with constituents ABN AMRO, Fortis Bank and Clariden Bank. The index, which was launched late last year, is a representative measure of the performance of private banks, according to FTSE. The FTSE Private Banking Index reflects the performance of institutions which together represent $1.5 trillion of assets under management.