OREANDA-NEWS. November 28, 2007. Oleksiy Aleksandrov, Assistant Chairman of the Management Board, Head of Private Banking Department of JSCIB “UkrSibbank”:

Private Banking business is aimed at satisfying the clients’ financial needs to the maximum extent possible and offering a set of additional services. This all means an individual approach, clear understanding of clients’ needs and creation of aura of financial comfort. Proper positioning of the financial instruments and services offered ensures the regular-shaped clients’ segmentation policy within the Bank. The segmentation, in the first place, is provided at the level of two complementary business streamlines: Retail client service (mass service) and Private Banking client service (individual approach to high net worth individuals).

Then, the clients are segmented within the Bank. The final objective of segmentation is a structured marketing activity program that supports Private Banking business. At this stage it is applied the so-called “4P” principle: Product, Place, Promotion, Price. It is, therefore, of prime importance to define: a product to be offered for a client; a place – geographical location of a point or area of service; promotion means and methods of Private Banking service and business opportunities; cost of the delivered services and the offered products. Based on these principles the Bank is capable to clearly define necessary products packages (pricing, set of financial instruments and additional services) for successful working relationship in this sphere.