That Was The Week: Privatisation does not work

Banking is banking, except it isn't. Stick the word private in front of it and all of a sudden it becomes crystal clear that the worlds of investment and private banking are unfathomably different. Witness this week's departure of Axel Killian from UBS Wealth Management. Killian was head of ultra-high net worth wealth management for Austria and Germany for the Swiss bank, as well as others who have made the move to private banking only to leave after relatively brief stints. Killian was a lead