A lot of banks sense high growth in the wealth management industry, which seems to have stoked the market for private banking. There was once a day when only the very rich could boast a private banker. That genteel era is not necessarily being recreated for merely high net worth clients, but there is definitely the sense that there is money to be made in that area.

Bloomberg reports that Morgan Stanley (MS) has hired 100 private bankers and may quintuple their numbers by the end of 2011. Their mission will be to lure more clients by offering them personalized services in securing jumbo loans, home equity loans and even securities loans. Commercial loans may also be available some day. They will likely find ways to treat customers as special. Gold-plated toasters for all customers!

Morgan Stanley Private Bank registered with the Federal Reserve in April. It is headed by Cece Stewart, 52, whom Morgan Stanley hired in 2008 from Wachovia. The private bank plans to as much as triple its loan balances to between $50 billion and $60 billion by the end of 2014.

Sumitomo Mitsui Financial and Barclays are in a private banking venture in Japan. Credit Suisse Private Banking recently hosted an event for the very rich and aims to grow its footprint. 

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