Banking services have much improved. Business people have become much more experienced and at the same time wages and salaries have risen extensively. Warsaw now has excellent communications and the economy is expanding healthily. For smaller accounts, mutual funds are generally used. To manage a large account, the banker needs to maintain a close relationship with his client.
Accounts have different degrees of risk.
The banker needs to manage on a discretionary basis, so that urgently required action can be taken without delay. Younger people are more inclined to take risks - e.g. by investment in emerging markets, generally through unit trusts. The 'Asian Tigers' appear to offer sustainable high growth rates. The original private banks, established mostly in Geneva 100 or more years ago, are partnerships of individuals with unlimited personal liability. This system affords the bank a high degree of independence and the long service of the individuals helps to retain long-term relationships with clients.