Editing Private bank (section)

{{Short description|Type of financial institution}}
{{For|financial services to high-net-worth clients|Private banking}}
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{{Banking |banks}}

'''Private banks''' are banks owned by either the individual or a general [[Partner (business rank)|partner(s)]] with limited partner(s). Private banks are not [[incorporation (business)|incorporated]]. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

Private banks have a long tradition in [[Switzerland]], dating back to at least the [[Revocation of the Edict of Nantes#The Revocation of the Edict of Nantes|Revocation of the Edict of Nantes]] (1685). Private banks also have a long tradition in the UK where [[C. Hoare & Co]]. has been in business since 1672.