UniCredit Tiriac is revising its business model on the private banking segment and is set to open specialised offices in several corporate centres across the country, in the context where operations have so far been exclusively carried out from the Bucharest headquarters. The approach change comes as the bank will implement a new client segmentation, with the private banking department to be transferred from retail under the subordination of the corporate unit. In parallel, the threshold for clients' liquid assets to qualify in the private banking area was doubled to 200,000 euros. Clients with significant wealth, but below this limit, will be included in a new department, called "affluent", to be still coordinated by the retail division. After the current reorganisation, the private banking department retains 800 clients, whose cumulated wealth amounts to 250m euros. This means that on average an individual client's fortune goes beyond 310,000 euros. "Private banking was transferred to the corporate segment because this is where most leads come from. The affluent segment was separated and will remain in the retail segment," said Octavia Cutus, who came at the helm of the bank's private banking department in February.

UniCredit Tiriac is revising its business model on the private banking segment and is set to open specialised offices in several corporate centres across the country, in the context where operations have so far been exclusively carried out from the Bucharest headquarters. The approach change comes as the bank will implement a new client segmentation, with the private banking department to be transferred from retail under the subordination of the corporate unit. In parallel, the threshold for clients' liquid assets to qualify in the private banking area was doubled to 200,000 euros. Clients with significant wealth, but below this limit, will be