SOUTHPAW: Bankers blinded by the lure of long-term wealth

As investment banks struggle with the latest phase of the financial crisis many are increasingly seeking solace from the wealthy clients and family offices served by their private banking and asset management operations as a way of generating high-margin, low-cost returns. The strategy has merit, but it requires the sort of long-term commitment that may be beyond the attention span of a typical deal-maker, writes David Rothnie.