All private-banking clients must be wealthy, or for some banks, have the potential to become wealthy, but they can be subdivided into a number of categories:

Owners of successful private Irish companies who want to separate their personal from their business affairs. Private-banking executives all agree that since the reduction in Capital Gains Tax rate to 20 per cent owners have been selling out of their businesses earlier than they normally would. All the bankers commented that many owners now were less willing to pass businesses on to the next generation because of concerns about their abilities to take the business forward and that owners also had concerns about passing cash on to younger family members.

Top management within public companies who have shares and share options as well as people with share portfolios. These are typically busy people who need to have their affairs managed well and to have someone looking out for potential investment opportunities for them. Private-banking executives can often get their clients shares in a company through private placings before that company is floated giving the opportunity for strong returns.

High-earning professionals: who will often come from the legal and medical professions. Again these are busy people who though they may have no assets at the early stages of their careers have the potential to build wealth through astute management of the finances.

Property investors: usually professional investors building up property portfolios.