Private banking 'open to more'

By Sarah Engle, Fri 19 Sep 2008 - Published in Banking

Private banking services are not just for the super-rich and can be used by a wide range of people, it has been claimed.

Simon Hopes, head of regional operations at Natwest Private Banking, said there has been an shift in the demographic of customers using the service.

He explained: "No longer is it the preserve of the landowners, the landed gentry [or] captains of industry. We have seen a shift towards a more generic customer base."

Mr Hopes said that the modern private banking user can be from any profession, including plumbers, academics and shop owners.

The expert also claimed that the increase in people setting up their own firms leads them to more wealth and, in turn, the benefits of private banking.

According to research from Natwest and the Cass Business School, there is a new 'enriched list' in the UK which includes people from non-traditional careers such as game developers, organic food producers and designers.

The list itself was topped by Sheffield-based film producer Mark Herbert, who was responsible for the film This Is England.

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