Best international private bank: Deutsche Bank Private Bank
Deutsche Bank Private Bank’s strategic initiatives in Italy have not only enhanced its financial performance but also solidified its reputation as a leader in integrating sustainability and comprehensive wealth management solutions.
Its private wealth business demonstrated robust growth and innovation. It achieved a 9% year-on-year increase in assets under management during the awards period – despite challenging market conditions.
Deutsche Bank Private Bank has successfully integrated corporate and wealth management services. It enhanced its Bank for Entrepreneurs model, which combines personal and corporate banking to offer solutions tailored to entrepreneurs and their families.
Its strategic focus on sustainability and environmental, social and governance (ESG) integration has been particularly successful, with ESG assets topping €4.25 billion during the awards period – or 18% of its total investment portfolio.
The bank also launched innovative investment solutions such as the Square Capital Club and Tech Venture Growth Fund, which provide clients with diverse and sustainable investment opportunities.
Client engagement was underlined by the successful closure of three major M&A deals and a strategic shift towards high-value client transactions. This approach underscores Deutsche Bank Private Bank’s ability to handle complex financial needs and strengthens its market position by focusing on profitability.
Moreover, the wealth management giant has actively engaged the next generation of clients through targeted educational initiatives and digital platforms, ensuring the continuity of client relationships and preparing for generational wealth transitions.
Best for discretionary portfolio management: BNL BNP Paribas
Showcasing a balance of precision, flexibility and personalisation, BNL BNP Paribas stands out from the crowd in terms of its agile investment approach, client-centric reporting and commitment to sustainable portfolio management.
The bank leverages BNP Paribas’ international network of 250 investment specialists and localised teams that manage global client assets.
A rigorous investment process underpins decision making, balancing systematic risk controls with agility to capitalise on global trends and local opportunities. This enables clients to benefit from real-time adjustments while maintaining transparency through consolidated reporting. Each client receives a single, detailed report outlining strategy execution and portfolio activity, ensuring clarity across all discretionary portfolio management services.
BNL BNP Paribas’ discretionary portfolio management (DPM) model also enables clients to blend three strategic management lines – multi-asset core relative, thematic and customisation – within a single contract. It’s a level of flexibility that supports highly personalised portfolios, combining core stability with thematic opportunities and bespoke adjustments. The bank saw total assets managed by its DPM offering jump 35% year on year in 2024.
Sustainability is deeply integrated in the bank’s offering via a proprietary rating system that assesses investments across all asset classes. Clients see and compare the overall and specific sustainability levels of each investment and fund, aligning portfolios with environmental, social and governance priorities without compromising diversification.
Best for UHNW: Deutsche Bank Private Bank
Deutsche Bank Private Bank has elevated its private banking proposition for ultra-high net-worth (UHNW) clients in Italy through a globally integrated, client-centric approach that combines bespoke relationship management, expanded wealth solutions and strategic collaboration across divisions.
The bank made significant strides in refining its service model for UHNWs, launching a dedicated framework to deepen relationships with around 150 strategic private wealth clients, including 16 in Italy. This initiative prioritises high-touch engagement, granting clients privileged access to the bank’s senior management, cross-divisional resources and bespoke capabilities.
Complementing this tailored approach, the bank leverages its global footprint – spanning 12 booking centres and around 60 markets – to deliver localised expertise through a unified network. This enables clients to navigate volatile markets with solutions aligned to their geographic and financial needs.
Product innovation is a key focus of Deutsche Bank Private Bank’s strategy. It expanded its wealth management solutions, particularly in discretionary portfolio management and advisory services. Clients can access a broader suite of offerings, including risk/return engineering, Lombard lending, structured products and private market investments.
Its Bank for Entrepreneurs platform has strengthened its proposition through the Square Capital Club, a private capital investment vehicle for Italian entrepreneurs. Over the past year, the team evaluated more than 120 companies and is moving toward its first transaction.
Deutsche’s One Bank is a key pillar of its client-centric strategy. Relationship managers collaborate with investment managers to optimise portfolio allocations, while clients of the Bank for Entrepreneurs benefit from industry specialists who provide sector-specific insights. This approach bridges corporate and private wealth needs, offering family-run businesses tailored services across M&A advisory, structured lending and liquidity event management.
Best for sustainability: Deutsche Bank Private Bank
Deutsche Bank Private Bank continues to make serious strides in the sustainability space in Italy. As of September 2024, environmental, social and governance (ESG) assets under management totalled €4.25 billion, accounting for 18% of group-wide investment products.
A key development in its sustainable offering is the launch of DB Positive Circle, which ties client investments in specific ESG products to philanthropic contributions. The bank allocates a portion of investments to two key beneficiaries: the Deutsche Bank Italy Foundation and the Deutsche Bank Ocean Resilience Philanthropy Fund. As of the end of August 2024, the twin initiatives had generated €559,000 in donations, with €475,000 allocated to social initiatives and €84,000 allocated to ocean conservation.
This in turn creates a closed-loop impact model: client investments trigger funding for environmental and social projects, which in turn benefit the communities and ecosystems in which clients live.
The bank deepened its environmental focus through an exclusive distribution partnership with sustainable asset manager Ambienta. This centres on Ambienta X Environmental Mid-Cap Fund, a Sustainable Finance Disclosure Regulation article 9-compliant equity strategy targeting mid-cap European firms that drive resource efficiency or rein in pollution. The portfolio adheres to Ambienta’s proprietary sustainability index, which evaluates firms based on environmental impact.
The bank has also prioritised ESG education for clients and staff, using chief investment office-led analysis and dedicated events to bridge knowledge gaps and foster informed decision making.
