OnsiteConference/Archive

Private Bank Segmentation

When:

October 9th, 2003 at 2:30pm Eastern Time.
For about 1 hour. Register

Speaker:

Paul Groncki, Ph.D.
Principal
The Groncki Group

Session Description

Financial services marketers are sometimes challenged when attempting to implement various segmentation schemes. These segmentation schemes can be generated by custom or syndicated market research studies, conventional wisdom, or ad hoc sources internal to the firm. This often leaves marketers and business managers frustrated with the ability to implement the results of market research studies. Marketing opportunities are often missed and marketing research budgets come under increasing pressure.

This presentation will explore the pluses and minuses of several segmentation schemes for the private banking and high-net-worth marketplaces. Examples will be given of several segmentation schemes and how they can be applied to a particular institution's situation to generate actionable marketing plans and priorities.

This program is appropriate for senior financial executives with responsibility for Affluent Marketing, Retail Banking, Wealth Market Product Development, Market Research and Strategy Teams.

Attendance Fee:

$275.00 plus $50.00 per telephone line used.

About Paul Groncki and the Groncki Group

Currently the principal of a marketing strategy and business development planning group – Groncki Group -- serving financial services firms and others targeting high-net worth consumers and hard-to-reach client segments. A sample of recent clients include HSBC, Bank Bank Medici, John Lobb, JPMorgan Flemming, and New York Community Trust.

Most recently, Dr. Groncki directed marketing research at the J.P. Morgan Private Bank, the business at J.P. Morgan Chase & Co. that manages the wealth of high-net-worth individuals. His responsibilities included managing, executing, and analyzing primary and secondary quantitative and qualitative market research targeting high-net-worth clients and prospects to support strategy development, direct marketing, sales, segmentation, product development, and satisfaction tracking.

While at Morgan, he built the foundation for a new business targeted at the mass affluent by applying state-of-the-art techniques from cultural anthropology, psychology, ideation, statistics, and the creative problem solving process. Dr. Groncki enabled senior management to allocate internal resources based on the size of potential private banking markets by applying the theory of wealth economics to estimate global wealth distributions. He contributed to office expansion decisions, marketing campaigns, and product development by producing in-depth studies of U.S. regional and ethnic wealth markets, as well as targeted country markets.

Before joining J.P. Morgan in 1995, Dr. Groncki directed PSI’s Affluent Market Research Program, a multi-client-sponsored survey research program covering the financial preferences and product usage of affluent consumers. He originally joined PSI in 1992 as Director of International Research where he managed credit/debit card research in ten countries in Europe.

Prior to PSI, Dr. Groncki spent a decade in banking, more than five years specifically in strategic planning, marketing and sales management for affluent consumer and private banking businesses at Citibank and Bankers Trust. He also worked in Citibank’s credit card business and economics department. Before Citibank, he worked for Brookhaven National Laboratory as an Associate Scientist. Dr. Groncki received a bachelor’s degree from SUNY Albany and earned both a master’s and a doctorate in economics from SUNY Stony Brook.