Entrepreneurs often find that the needs of their company and their private wealth management are considered separately by their bank. However, for the families of owner-managed companies, these two aspects are generally inextricably linked. We are changing that by offering entrepreneurs an integrated service concept.
Mr Weigel, please tell us about your experience with entrepreneurs who are looking for banking support for both their business and their private assets.
Many entrepreneurs who run German SMEs are very surprised to find that they have to deal with so many different contacts at the banks. The credit team steps in when it comes to financing corporate projects. A private client advisor steps in when it comes to private asset management. Specialists all focus only on their respective areas of expertise and rarely look beyond them. This contradicts the entrepreneurs’ everyday reality. They are used to all the important threads coming together so that they can keep an eye on everything. They tend to opt for short decision-making channels and a small number of trustworthy contacts. This is what I hear time and time again.
What conclusions do you draw from this?
One should not artificially separate what customers see as belonging together. The family business and the entrepreneurial family are precisely that. So a holistic approach is needed for all financial needs, both entrepreneurial and private. This is exactly what we have pooled together in the E & E division: the expertise within our bank in the corporate client business and in private banking. Another key finding involves reducing the number of contact persons, with an integrated team behind them nevertheless.
And a third finding is that these customers expect immediate support. Our teams are therefore available to assist their clients locally and physically throughout Germany, not just virtually.
The E&E teams offer solutions "from a single source". What is new about it or do they do things differently?
Firstly, I believe that we are really good at both aspects and we don't need to acquire the corporate or private client side first in order to be able to offer a holistic service. We are a top private bank in Germany and a top corporate bank throughout Europe.
On the other hand, I believe we consistently consider the integrated approach from the customer's point of view and implement it in a very stringent manner. We can therefore promise our customers with full conviction that they can rely on us to provide everything from a single source - and of the best quality.
Are there any particular strengths that you would like to emphasize?
Sustainability is definitely a priority. At Bethmann Bank, we are one of the pioneers on the German market with a lot of experience and numerous awards. Responsible business practices are also becoming increasingly important for small and medium-sized enterprises and can contribute to their success. We can be a skilled and credible partner in this process of change. We have also been approached by an increasing number of private investors who want their investments to have a socially relevant effect, in the sense of "impact investing".
In addition, we are able to draw on internationally recognised expertise, particularly when it comes to the major topics such as energy transition, digitalisation and mobility. We are also a reliable partner for companies when it comes to loan capital for a wide range of projects. And last but not least, we benefit from a proximity to our customer base that has grown over more than 300 years. All in all, this is already quite a strong package.
Is the E & E offer suitable for any business owner?
As one would expect, it all depends on the individual case. Corporate-wise, we are fundamentally aimed at well-established and family-owned small and medium-sized enterprises generating 25 to 250m EUR sales and mainly, even if not exclusively active in the above mentioned three major transition themes. The advantages of our E & E care approach are most effective here.
Our new Entrepreneur & Enterprise consulting looks at you and your company as one.
