Banker’s relation
Bankers are not a commodity. Those who believe they are must have spent difficult nights lately. The relationship families build with bankers is a two-way street, cultivated over the long run.
When times are good, families do not fall for commercial offers from newcomers, even though they might offer reduced commissions, smart products, or attractive interest rates. This is because when the stock market crashes, families need their long-standing bankers to fight for them during credit committees and support their credit lines backed by listed securities, often referred to as Lombard lending. It is crucial to understand that this relationship is more than just transactional.
Bankers hold tight and find solutions when times get tough. They demonstrated this in 2008, 2020, and continue to do so today. Therefore, it is only natural to entrust them with investment portfolios and fee-intensive transactions.
Families remain loyal to their bankers and do not waver. It is on days like last Thursday, Friday, and this Monday that loyalty regains its full value.