Results likely to be lower than expected

CEOs of top private banks and wealth managers report gross revenue and profit increases are not expected to meet the double-digit growth expectations set in 2000.

According to the 2002 North American Private Banking/Wealth Management Survey by Pricewaterhouse- Coopers (PwC), slower growth and shrinking profit margins will limit industry expansion over the short-term to 7% a year, with a modest 10% annual growth rate predicted by 2004.

These numbers pale in comparison to the projected five-year c