UBS performed strongly again in Euromoney’s global private banking and wealth management survey in 2021. It topped the western Europe regional rankings for: best private banking services overall; serving mega high net-worth clients worth more than $250 million; family offices; business owners; and high net-worth clients with $5 million to $30 million to invest.
UBS, under new chief executive Ralph Hamers, remains western Europe’s best bank for wealth management.
This is a largely domestic, onshore business with offices in Denmark, France, Germany, Italy, Luxembourg, Monaco, Spain, Sweden and the UK and Jersey.
Covid lockdowns disrupted the usual meetings with clients, but Christl Novakovic, chief executive of UBS Europe SE and head of wealth management Europe, is pleased with how resilient the business was. “Our numbers went up significantly, notably in mandate penetration and even though there was a small slowdown in net new client growth, we still managed to acquire new clients who have never met our advisers face to face.