Private banking

Private banking is banking, investment and other financial services provided by banks to high-net-worth individuals with high levels of income or invest sizable assets. The term "private" refers to customer service rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. It does not refer to a private bank, which is a non-incorporated banking institution.

Private banking forms a more exclusive (for the especially affluent) subset of wealth management. At least until recently, it largely consisted of banking services (deposit taking and payments), discretionary asset management, brokerage, limited tax advisory services and some basic concierge-type services, offered by a single designated relationship manager.

Overview

Private banking is the way banking originated. The first banks in Venice were focused on managing personal finance for wealthy families. Private banks became known as ‘Private’ to stand out from the retail banking & savings banks aimed at the new middle class. Traditionally, private banks were linked to families for several generations. They often advised and performed all financial & banking services for families. Historically, private banking has developed in Europe (see the List of private banks). Some banks in Europe are known for managing assets of some royal families. The assets of the Princely Family of Liechtenstein are managed by LGT Group (founded in 1920 and originally known as The Liechtenstein Global Trust). The assets of the Dutch royal family are managed by MeesPierson (founded in 1720). The assets of the British Royal Family are managed by Coutts (founded in 1692).

Italy

Coordinates: 43°N 12°E / 43°N 12°E / 43; 12

Italy (ⁱ/ˈɪtəli/; Italian: Italia [iˈtaːlja]), officially the Italian Republic (Italian: Repubblica Italiana), is a unitary parliamentary republic in Europe. Italy covers an area of 301,338 km² (116,347 sq mi) and has a largely Mediterranean and temperate climate; due to its shape, it is often referred to in Italy as lo Stivale (the Boot). With 61 million inhabitants, it is the 4th most populous EU member state. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Switzerland, Austria, Slovenia, San Marino and Vatican City.

Since ancient times, Greeks, Etruscans and Celts have inhabited the south, centre and north of the Italian Peninsula respectively. Rome ultimately emerged as the dominant power, conquering much of the ancient world and becoming the leading cultural, political, and religious centre of Western civilisation. The legacy of the Roman Empire is widespread and can be observed in the global distribution of civilian law, Republican governments, Christianity and the latin script.

Roman Italy

Roman Italy was created officially by the Roman Emperor Augustus with the Latin name Italia. It was the first time in history that the Italian peninsula (from the Alps to the Ionian Sea) was united under the same name. In the year 292, the three islands of Corsica, Sardinia and Sicily were added to Roman Italy by Emperor Diocletianus.

Characteristics

Italy (Italia in Latin and Italian) was the name of the administrative division of the Italian peninsula during the Roman era. It was not a province, but became the territory of the city of Rome, thus having a special status. Following the end of the Social War (91–88 BC), Rome had allowed its Italian allies (socii) full rights in Roman society and granted the Roman citizenship to all the Italic peoples.

After having been for centuries the heart of the Empire, from the 3rd century the government and the cultural center began to move eastward: first the Edict of Caracalla in 212 AD extended Roman citizenship to all free men within the imperial boundaries, then during Constantine's reign (306–337) the seat of the Empire was moved to Constantinople in 330 AD.

Italy Pavilion at Epcot

The Italy Pavilion is a Italy-themed pavilion that is part of the World Showcase, within Epcot at Walt Disney World Resort in Florida. Its location is between the Germany Pavilion at Epcot and The American Adventure.

Layout

The Italy Pavilion features a plaza surrounded by a collection of buildings evocative of Venetian, Florentine, and Roman architecture. Venetian architecture is represented by a re-creation of St Mark's Campanile (bell tower) and a replica of the Doge's Palace. The pavilion's design is inspired by other hallmarks of Italian architecture, such as the Neptune Fountain (reminiscent of Rome's Trevi Fountain) and the Il Bel Cristallo shop (meant to resemble the exterior of the Sistine Chapel). Musicians, clowns, and acting troupes often appear in the piazza throughout the day. There are also small shops selling Italian goods, such as candy and wine.