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FirstRand’s banking units, FNB and RMB, want to redefine private banking in SA by merging the roles of high-end bankers with those of financial advisers to provide a more holistic service to their more than 1.2-million upmarket customers.

FNB and RMB’s private banking offerings comprise three main client segments — premier banking, private clients and private wealth — making them the market leader in the high-end segment, though Standard Bank’s recent merger with Liberty Holdings makes it a strong competitor...

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