Private banking’s fastest-growing segment is in the $1 million to $5 million range. Serving them requires a new business model. The dynamics of global wealth growth are shifting, and with them, the economics and operating models of many of the world’s private banks. The data couldn’t be clearer; the fastest-expanding pool of new clients for wealth management is in the $1 million to $5 million band. That’s big enough to demand sophisticated advice, but not rich enough to subsidize the cost base