Pierre F. Baer, chief executive for Singapore and South Asia of SG Private Banking, the private-wealth-management arm of France's Societe Generale Group, says there is no better time than now for private bankers to decide if they are in the industry for what he thinks are the right reasons: a passion for finance and for dealing with people.

The 49-year-old Swiss says the current global economic crisis will reshape an industry he has been part of for more than 20 years, mostly because the challenges of managing money are increasing just as the financial rewards are falling.