Private banking survey 2004 profiles

Full results and methodology |  The reinvention of private banking | Profiles

UBS Wealth Management, Sarasin, Bordier & Cie, Credit Suisse Private Banking, Coutts, Bank Privat, Degroof, Mandatum, SG Private Banking, Sal Oppenheim, CenE Bankiers, Banif, Cuatrecasas, Carnegie, Citco, Man Group, Noriba, UBS, PwC:

UBS Wealth Management: reaping rewards of European growth

UBS Wealth Management is starting to reap the benefits of the European initiative it launched in 2001. It attracted SFr23.3 billion ($18.6 billion) in net new money in the first nine months of 2003. Europe accounts for 39% of that, posting annualized growth of 43%.

In addition to attracting new clients, the initiative meant the bank was well positioned to retain most of the assets repatriated to Italy from Switzerland after a tax amnesty. It should also limit the impact of the introduction of tax amnesties by other European countries such as Germany and Belgium.

International outperformance

The...