—The Geneva Private Banking sector has suffered
two major shocks in the past five years. The financial crisis and
the end of the Swiss banking secrecy have presented this highly
sensitive area of service with a new challenge: how to regain
their disillusioned customer’s faith. The time has come to
reconsider what the client needs in terms of service in order to
re-establish long term loyalty between banks and their clients.
Using ethnomethodology as our research tool, we have been
able to study behavioural issues involved in this relationship, as
opposed to articulated and codified professional standards.
Having interviewed sixty people, half of which are wealth
managers, half of which are clients, we were able to make
tangible the essence of this tacit knowledge leading to loyalty in
private banking. The results of our research draw us to believe
that service delivery primes over that of financial gain in terms
of performance perceived by the client. The ultimate aim of our
research is to provide insights into how behavioural aspects of
the wealth management experience may be improved.
—Wealth management, loyalty behaviour,
financial crisis, banking secrecy, tacit knowledge.
Philip Chowney is with the Haute Ecole de Gestion de Genève, 1227
Carouge, Switzerland (e-mail: pchowney@ bluewin.ch).
Emmanuel Fragnière is with the University of Bath, England and the
Haute Ecole de de Gestion de Genève, Switzerland (e-mail:
Cite: Philip Edward Chowney and Emmanuel Fragnière, " Regaining Loyalty in Wealth Management: An Empirical
Behavioural Inquiry in the Geneva Private Banking Sector," International Journal of Social Science and Humanity vol. 4, no. 4, pp. 254-259, 2014.