After suffering bonus cuts of 30% to 40% and helping angry clients through portfolio losses, private bankers face a yet bleaker future.

Taking account of the market slump, analysts say the assets of the wealthy have fallen in value by a quarter to $30 trillion (€22.6 trillion) at the end of 2008 from $40.7 trillion at the start of the year, based on calculations by advisers Merrill Lynch and Capgemini.