41–50 of 98 posts
Earlier quoted context omitted.
There are many existing banks that cater to rich people.
Name one bank that the average person on the street recognizes as an exclusive bank that only rich people can afford to use, like they do with Ferarri or Rolls Royce.
Earlier quoted context omitted.
There are many existing banks that cater to rich people.
Name one bank that the average person on the street recognizes as an exclusive bank that only rich people can afford to use, like they do with Ferarri or Rolls Royce.
J.P. Morgan's private bank even issues the "Reserve Card", which is identical to the Chase Sapphire Reserve, except that it is made out of palladium to show off to anyone who cares and it has a higher annual fee.
The article keeps saying their advantage is their ability to "find solutions other banks can't". I don't know what that means. Exotic loan terms? Collateralizing difficult-to-value assets?
I'd imagine for a client, most of the value of this bank is access to what I can only imagine to be the most fantastically exotic network it sits at the centre of
Fidelio.
The article keeps saying their advantage is their ability to "find solutions other banks can't". I don't know what that means. Exotic loan terms? Collateralizing difficult-to-value assets?
Earlier quoted context omitted.
Name one bank that the average person on the street recognizes as an exclusive bank that only rich people can afford to use, like they do with Ferarri or Rolls Royce.
I worked with a start-up that focused on providing software for private family offices. These are for UHNW people who have more than 100 million USD. They do not want to brag that they go to the Bentley of banks. They want to keep it as private as possible. Typically UHNW has a private family office, something between a concierge and philanthropy and a private investment organization, which maintain relationships wit…
The article keeps saying their advantage is their ability to "find solutions other banks can't". I don't know what that means. Exotic loan terms? Collateralizing difficult-to-value assets?
So banking is a complex mess of years and years of regulation that seem to change when the government does or there is an event. An example for me personally was trying to buy a house after the crash. (This bit is simplified vs the details of rules). They changed the loan laws to put incoming as the key limit on what you could write a loan against. I had made a nice chuck of money on my last startup and was very luck…
I wonder if legendary computer scientist Tony Hoare (C. A. R. Hoare) was part of the family, especially given his three given names.
> He developed the sorting algorithm quicksort in 1959/1960. He also developed Hoare logic for verifying program correctness, and the formal language communicating sequential processes (CSP) to specify the interactions of concurrent processes (including the dining philosophers problem) and the inspiration for the occam programming language.