It seems private banks have fallen out of love with entrepreneurs. Not so long ago they were the clients every wealth manager wanted: dynamic, risk-loving wealth creators. But now risk is a dirty word and plenty of private banks are less keen on entrepreneurial clients.

"Entrepreneurs have been seen by banks as a glamorous segment to go after," says Rupert Robinson, chief executive at Schroders Private Bank. "Why is that? Because entrepreneurs are the group that will drive wealth creation. They are the risk-takers who will hopefully be successful, generate wealth and look to private banks and wealth managers to service them."