Brazil's private banking business had a wake-up call in 2013 when a stalling economy triggered a slowdown in its growth, increasing competition and forcing banks to look beyond their existing customer base. Now, armed with new strategies and a wider range of products, can Brazil's private banks finally exploit the full potential of this vast and wealthy market?

Recent years have seen private banks hit by heavy regulation, fines and spiralling compliance costs, all of which have taken their toll on profits and brand value. As banking groups redefine their exposure to wealth management across the world, will private banking become a game better played by local and specialised names?

In their pursuit of new money, private banks are trying to build up brand recognition, be it by highlighting their traditional values or the way they have embraced the digital revolution.

With clients demanding more clarity on their investments, and new regulations putting pressure on margins, wealth managers have their work cut out to remain profitable and relevant. Can they rise to the challenge?

The sale of both its Greek subsidiary and its financial products division is intended to leave the family-owned EFG Group as a pure private banking operation.

A stagnant home market and declining prospects in western Europe have encouraged Swiss wealth managers to expand in emerging markets. But the strategy for success is not always straightforward, and now a number of regional players have come to the fore looking to challenge Swiss dominance in this field.

Wealth management strategies are changing in response to a changing financial and socio-political landscape. The Banker and its sister publication Private Wealth Management approached chief executives from key institutions in each global region to canvass their views on the future growth of the industry. The panel of leaders addressed topics including regulation, reporting quality, due diligence and banks’ increasing use of social media.

As Asia's population grows richer, the continent's wealth management industry is struggling to keep pace and meet the needs of the ever-expanding number of high-net-worth individuals. Gone are the days of simply poaching such staff, and many banks are now focusing on producing home-grown talent.

While regulators and politicians may want investment banking to be split off from private banking, in the industry the two are moving more closely together than before the crisis.