The smart private bankers at Chase's swish London Wall offices are still wearing their pin stripes but they are every bit as aggressive as their peers on the corporate finance floor. Today there are as many bankers at Chase who have come from an investment banking and capital markets background as those who have climbed the classic private banking ladder.

As the industry becomes more sophisticated and more demanding, so do the skills that are required of the bankers who handle client money. Chase's Federico Imbert, head of its Global Private Banking practice, worked for 24 years as an investment banker and he advises his clients as much on strategic "wealth transition" decisions as he does their asset management. "We have many entrepreneurial clients who want at times to transfer their wealth into new businesses. As a wholesale business we can help with leveraged finance or acquisition finance. Chase works as an integrated operation," says Imbert.