Several major retail banks are expanding luxury services and perks to attract clients with millions of dollars in cash, trusts and sometimes even art collections. Among the premiums being offered are daily tea service, doormen and even Mini Coopers to run financial errands, while specific services are being offered to the elderly, concierge services and advisory services.
Oak Brook Bank in the Windy City, for instance, offers the car and tea service and recently opened two new branches in neighborhoods with an average household income of $200,000.
In its effort to be different, CFO Rose Bauman told The American Banker the two branches have pulled in $86 million in deposits.
Even large banking operations such as Citigroup are offering high-end personal service by offering to manage pricey, private art collections, hire estate managers and housekeepers or managing ranches, farms and vacation homes around the world, the newspaper reported.
