Awards for Excellence 2013: Best Wealth manager

The bank made most of the right calls last year to achieve a positive performance for 90% of client portfolios.

Awards for Excellence 2013

Best Wealth manager: UBS Wealth Management

Also shortlisted: BNP Paribas and Credit Suisse Private Bank

It has once again been a challenging year for those managing assets for the world’s wealthy. Despite the recent back-up, fixed-income yields remain low. "You can’t think in terms of cash and bonds," says Jürg Zeltner, CEO of UBS Wealth Management. "Cash is expensive, the risk-return profile in the bond markets is unattractive – especially in some European government bonds." And although many developed equity markets have performed well, emerging market equities have generally struggled and there has recently been increased volatility.

Despite this, UBS’s house view over the past year with regards to asset allocation has been successful. "We were early to call US equities and get into high yield. We got currency plays right and exited some trades at the right time," says...