Happy Thanksgiving and Happy Holidays! This season, I’m reminded that true wealth lies in accomplishments and the connections we build—family, friends, and the community of readers like you who make this newsletter meaningful.
Just as I reflected on resilience and growth during the Philadelphia Marathon this Sunday, I’m grateful for the support and inspiration from all of you. From my family to yours, wishing you a joyful holiday season filled with health, happiness, and success.
Today at a Glance:
Private banking and wealth management have taken center stage for banks, with high-net-worth clients driving growth and innovation. At the same time, credit card issuers are increasingly focused on the super-prime segment, with a surge in products tailored to affluent consumers compared to pre-pandemic levels. This shift underscores a clear trend: banks are doubling down on the wealthiest segments, recognizing the outsized opportunity they present in a competitive market.
