The other private banking

Do we need integrated investment banking? A bonus system for management? Will it still be necessary to work with untaxed assets in the future? These are questions that the Swiss banking world is currently asking itself. Although the general conditions are changing, they are still excellent in our country: The Swiss banking center has an excellent reputation and a long tradition, it has great and long-standing competencies, it contains innovative strength with excellently qualified employees, and it has a political and economic stability that is second to none.

Intact banking centre

Meanwhile, Swiss banks should be aware that the future very likely belongs to the white money strategy. At the latest since Austria and Luxembourg agreed to a relaxation of banking secrecy,

Hardly anything remains the same

this will continue to be the international tenor. How quickly and in what form, of course, remains to be seen. Nevertheless, it is hardly conceivable that everything will remain as it is. Because public opinion on the subject has largely been made. So anyone who wants to build on a positive image in the future will have to change in this respect in order to remain successful in the long term. Customers, shareholders as well as employees expect clear statements regarding the future.

Despite the current changes, the foundations of the Swiss banking centre are and will remain intact. Those who assess the situation correctly, are able to adapt to new circumstances and pursue a corporate strategy and culture that creates trust both internally and externally will continue to operate successfully in the future.

Balanced and sustainable

Jyske Bank is a private bank that sees opportunities for the future in the current changes. As a Swiss wealth management provider with Danish roots, it has been at home in Switzerland for over 40 years. The high level and long experience in the local banking centre, as well as the high ethical and social standards of the Danish parent company, bring the bank

Shaped by Danish parent company

in the best possible way. With a corporate culture that is based on a simple and indispensable principle: the balance between customers, employees and shareholders. Only if this balance does not shift in favour of, or to the detriment of, one or two groups will a company be successful in the long term. Jyske Bank not only subscribes to this principle, but also lives it at all its locations in Europe.

No-bonus principle

It is therefore not surprising that Jyske Bank does not pay bonuses to its management or employees. And this has not just been the case since the bonus discussions began - Jyske Bank has always consistently upheld the no-bonus principle and it is an integral part of the sustainable corporate philosophy. This also includes the open communication that is cultivated throughout the company. On the intranet, every individual has the opportunity to express his or her opinion on every conceivable topic. Everything can be discussed and no contribution has ever been removed. Even the salary of CEO Anders Dam was discussed at length on this platform.

The principle of balance described above also ensures sustainability and stability in the shareholder structure. With almost a quarter of a million shareholders, the financial company has a broad foundation. No shareholder may own more than ten per cent of the share capital without the bank's consent - balance is the priority. With a high equity base, Jyske Bank also has a leading position in Europe, as the various stress tests in recent years have clearly shown. Any forms of state participation were thus definitely not an issue for the banking group, even at the height of the financial crisis.

Jyske Bank's values and the principle of balance mean that the bank takes a clear stance towards all stakeholders. Customers respond very positively to these principles, feel understood and have a strong connection with their bank. Employees receive genuine appreciation and deliver outstanding performance even without bonuses and, last but not least, this philosophy is also reflected in positive business results, which in turn are well received by shareholders.

Advice at eye level

Private Banking in focus

In addition to the Danish home market, where Jyske Bank also has a strong position in retail banking, the bank focuses on private banking in various European countries. This is also the case in Zurich, where a team of specialists focuses specifically on the needs of Swiss clients. The principle of balance is also practiced in day-to-day client contact. "Advice at eye level" is the magic word here. The customer is regarded as a genuine and equal partner. In an uncomplicated, collegial and proactive manner, clients receive the best possible advice and support. At the same time, short decision-making paths are ensured - because decisions should be made as close as possible to the customer. This is one reason why client advisors are given the greatest possible decision-making authority. They receive the trust of the bank management for their personal area of work, which ultimately also benefits the quality of advice and the clients.

wealth management

Jyske Bank provides the full range of wealth management services in this country. The bank also relies on the principle of balance in its financial products. This applies to sustainable investment opportunities as well as to individual pension provision. Here Jyske Bank offers flexible and absolutely transparent solutions. Modern products where the customer can see at a glance how high the investment return is and how the investment strategy is composed down to security level. All administration, asset management and risk costs are also disclosed in full. For Jyske Bank, retrocessions in pension solutions cannot be reconciled with the principle of balance. For this reason, they are dispensed with altogether. This is because these so-called "kick backs" make it impossible for the Bank to take a neutral view and provide a trustworthy service. The individual pension solutions are suitable for those clients who own a company, have a stake in it or hold a managerial position.

Best Web TV Channel in Europe

But it is not only the framework conditions and the way in which clients are looked after that are changing; clients' information behaviour is also subject to constant change. Today's private banking clients are increasingly acting globally. To meet these needs, Jyske Bank has developed mobile tools that make it even easier for customers to contact their bank from anywhere in the world. Furthermore, with jyskebank.tv, customers have access to

Change offers opportunities

an in-house web TV channel is available. Fresh daily reports cover the global financial markets, trends and much more. Critical reporters and experts from the fields of business and investments deliver well-founded reports of a high journalistic quality. So good, in fact, that in October 2011 jyskebank. tv won the "Digital Communication Award" as the best web TV channel in Europe.

With its principle of balance, Jyske Bank is not only pursuing a clear and sustainable corporate philosophy, but its performance with clients, with top-quality advice and new digital communication options, also impressively demonstrates that this bank is definitely swimming against the tide. If other Swiss financial institutions also adapt their business strategy and culture to the new circumstances, the Swiss financial centre will not be in a bad way in the future. Change offers opportunities. It is time to recognise and seize them!