Integrated Wealth Management in Regional US Banks: Hibernia National Bank, 2000-2005

December 7, 2006

Abstract

New York, NY, USA December 7, 2006

Celent explores one trendsetting regional bank's keys to success in attracting and retaining wealth management clients.

In 2000, Hibernia National Bank of New Orleans, a US regional bank, launched a comprehensive and aggressive plan to target affluent and wealthy households within Louisiana and East Texas. In the report, , Celent describes the efforts undertaken by the bank to successfully compete in the wealth management arena.

The report lays out the transformations made to the organizational structure, the culture, the products and services offered, the personnel and delivery channels utilized, and the technologies deployed.

"While not everything worked perfectly, there were some strong success stories that other organizations can learn from," said Robert J. Ellis, senior analyst in Celent's Wealth Management practice and author of the case study. "However, there are also some substantial struggles against trends and perceptions that no organization, however well prepared, may be able to overcome."

In addition to regional and community banks, this report can be instructive for local competitors of the same.

The report is 26 pages long and contains five tables. A table of contents is available online.

 

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

New York, NY, USA December 7, 2006

 

Executive Summary 3
Problem Statement: What Worked Well Before May Not Serve in the Future 4
Initial State: Living in Silos 7
Traditional Banking Wealth Management Issues to Be Resolved 10
A Better Solution 12
Outcomes 22
Conclusions 24
Objectivity and Methodology 25

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