Old names of the European banking industry - the Royal Bank of Scotland (UK), established 1727 and Lombard Odier Darier Hentsch Private Bank Limited (Switzerland), established 1796, as well as younger but similarly prestigious financial institutions such as Credit Suisse Luxembourg, JP Morgan International Bank Limited and Citibank International plc are getting ready to come in Romania in search of private banking and investment banking customers.
One month from the opening of the domestic banking market to any player in the European Union, the National Bank has received seven notifications from financial institutions interested to provide services directly on the Romanian market, without necessarily opening a branch here, pursuant to the EU legislation.
Romania's millionaires in euros are now targeted by the major players on the private banking segment, considering most banks that started procedures to notify the NBR specialise in precisely this segment. Lombard Odier Darier of Geneva, one of the biggest private banking firms in Europe has an over 200-year tradition in asset management and respect for the personal privacy of its clients.
Credit Suisse Luxembourg targets exactly the same segment. It is a subsidiary of the Swiss giant Credit Suisse and was established in 1974. It specialises in consulting services for personal investment, portfolio management and tax optimisation. Credit Suisse Luxembourg targets top clients, educated about the quality of private banking services and attempts to provide advice in the client's native language, relying on forming long-term relations based on maximum confidence.
Private banking customers is what JP Morgan International Bank Limited, London, will be looking for, too. This is a subsidiary of giant J.P. Morgan Chase that wants to be ready to provide international brokerage services, as well, through
