Crédit Agricole Italia’s 2023 private banking strategies

Let’s start from this point: how do you interpret this role and what will be the characteristic feature of its management?

In the meantime, I must say that I have inherited a very well established and growing structure, which derives from a good job done in the past. The characteristic of my direction will be to keep my head held high, in the sense of keeping a constant eye on the world and on the market, in search of opportunities. We will not be afraid to change to do better and we will look to the future with a serene eye.

And then, let’s talk about strategies. Banker training and customer satisfaction are your priorities: how do they translate into business?

With concrete actions, no doubt. On the training front, we aim to increase the professionalism of our bankers with a plan that concerns not only compulsory training but also specialist technical education on various subjects and soft skills, in the belief that listening to and understanding the customer, in order to him a tailor-made investment plan, is the real added value.

Furthermore, it is clear that the banker alone today can no longer be enough for customers, therefore we are developing internal investment advisory roles, wealth planning professionalism for tax optimization and succession planning and credit experts dedicated to the pb, who are dedicated to the aspect of funding for private business customers. In this context, the banker becomes an orchestra conductor of musicians who are excellent in their field but who, without coordination, would not be able to produce a harmonious melody.

Do these initiatives also serve to increase customer satisfaction?

Certainly yes, and customer satisfaction will be our guiding star in 2023 as well. Today, in a very complex market context, we have achieved a result of around 81% with assets increased by one and a half billion euros, really important numbers for us. Looking to the future, I can say with certainty that we will work to increase internal specialist roles, and we will continue to collaborate in synergy with the corporate bank, which is already well positioned where the Italian entrepreneurial fabric is concentrated. We are strengthening the Uhnwi wealth executive team and in cooperation with CA Indosuez WM Italia we are also targeting international clients. We will seek to have a holistic approach to the world of wealth, to ensure that our growth is always supported by excellence in client satisfaction.

A holistic approach is relatively easier for you as your structure is made up of many souls…

Ours is a very heterogeneous group and the Personal Financial Advisers, who are a point of reference in the management and protection of assets, can count on a combination of articulated products and services with high added value. Crédit Agricole Italia’s Private Banking stands out for its ability to create important group synergies between Amundi SGR, CA Vita and CA Assicurazioni; in CA Indosuez, CACIB and CALIT.

And is this an added value for customers?

It is. Ours is a sector in constant transformation, the uncertainties of the context, the evolution of the network concept and the digitization of approaches are issues that should not be faced defensively but seen as a world of opportunities. Crédit Agricole Italia has this approach: the recent acquisition of Creval, completed in April, also demonstrates this.

Looking ahead also means thinking about the next generations: those who will be protagonists of the greatest transfer of wealth in history…

Certainly the most pressing objective for bankers today is to protect current wealth to get it to the heirs but then we need to keep the latter. The population of private customers has an average age of around 60 and the upcoming generational change will not be painless.

When the client is also an entrepreneur it is easier because the line of succession tends to be clearer and the banker’s commitment is to be able to work together with the Corporate structures to become a reference partner of the company and the family, extending the advice to everyone members, even the younger ones. Another Crédit Agricole tool to support the new generations are the Le Village innovation accelerators, which form partnerships with startups and have connotations linked to the various territories in which they operate (finance in Milan, food in Parma, sustainability in Padua).

In any case, our development strategy starts from our solidity: the path we want to continue taking is the one that allows us to be recognized as good asset managers, while at the same time transmitting our desire to look to the future with freshness and innovation. Italy, as Valérie Baudson, CEO of Amundi (SGR of our group) recently recalled, is a market of great interest and in this market our Private Banking aims to enter the ranking of the top 5 commercial banks, increasing the total assets by 30-40% within three years.

Crédit Agricole Italia’s 2023 private banking strategies