(Reuters) - Following are investment tips from private banking executives speaking at the Reuters Wealth Management Summit being held this week in Boston, Singapore and Geneva:
PATRICK DU SAINT, BNP PARIBAS, HEAD OF PRIVATE BANKING SWITZERLAND,
"It is difficult to give advice, the bank is very cautious. The reaction of the client was a flight to safety, safety starting from the name of the bank. Safety can mean cash and government bonds."
JUERG ZELTNER, UBS, HEAD OF WEALTH MANAGEMENT NORTH, EAST AND CENTRAL EUROPE
"Today it is basically gold, government bonds, cash. This is not the type of asset allocation we know is the best. We need confidence back, people are still shying away from everything.
GERARD AQUILINA, VICE-CHAIRMAN OF BARCLAYS WEALTH
"We like emerging markets, specifically Asia. We think there are opportunities in the fixed income sector, specifically corporate bonds. You could also select mortgage securities."
ENRIQUE MARAZUELA, CHIEF INVESTMENT OFFICER OF BBVA PATRIMONIOS
"I'm convinced if we buy equities now, we're going to do a good business. In the words of Warren Buffett, value is what you get."
PETER FLAVEL, STANDARD CHARTERED, GLOBAL HEAD, PRIVATE BANK
"We have a golden rule in the group - we only invest in things we understand. If we don't understand it, we don't touch it."
DARIO PRUNOTTO, UNICREDIT PRIVATE BANKING, CHIEF EXECUTIVE
"We are advising clients to be liquid without any risk."
BERNARD COUCKE, ING GROEP, HEAD OF PRIVATE BANKING EUROPE
"Gold is good to put on the neck of your spouse but not to invest. Look to the gold price over the last 10 years. Sometimes it follows commodities and sometimes it is contrary. Putting money in a vault or one asset class is dangerous."
CHRISTOPHE BERNARD, UNION BANCAIRE, HEAD OF ASSET MANAGEMENT Continued...
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| Middle East Investment | Oct 26 - 28, 2009 | Country Summits |
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| Restructuring | Sep 29 - Oct 01, 2009 | Financial Services / Exchanges |
