Private Banking and Wealth Management Survey 2011

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Credit Suisse retains the global overall crown but it’s all change in the regional and country results.

Credit Suisse retains private banking crown in benchmark Euromoney private banking survey
Full results index 

Credit Suisse has maintained its position as the world’s best provider of private banking services according to the industry-leading private banking survey published by Euromoney.

Last year Credit Suisse had won the crown for the first time, beating its arch Swiss rival UBS, which had suffered badly in the aftermath of the global credit crunch.

This year Credit Suisse holds off a resurgent UBS, which rises to second place overall in the rankings. In addition Credit Suisse is named the best private bank in Western Europe, Central and Eastern Europe and the Middle East.

UBS is hot on its Swiss rival’s heels again, having fallen to third place overall in the 2010 rankings. UBS has also regained top position in the key ultra-high net worth category, displacing last year’s winner JPMorgan.

HSBC falls from second place overall to third, but retains its top rankings globally for the super-affluent and clients with a net worth of $1 million to $10 million. Improving HSBC’s offering in wealth management has been identified as a key priority for new group chief executive Stuart Gulliver.

Elsewhere Barclays, which only entered wealth management in the past five years, breaks into the top 10 banks globally for the first time, wins the super-affluent category in Western Europe and retains its position as the leading private bank in the UK.

After the turmoil of the previous two years, the world’s private bankers have learned to adapt to a radically changed environment for both themselves and their clients.

After the crisis, the key factors in a private banking relationship have been reinforced – trust and service have become more important than ever before. At the same time, banks have been challenged to provide the returns that clients demand in a period of extreme volatility and historically low interest rates.

The private banks that have performed best through this difficult period around the world are revealed February 2011.



These changing market conditions have brought many changes in results. A summary of those changes are as follows:

12 new global winners

In regional categories: 8 new winners in Western Europe; 6 North America; 15 Nordic & Baltic; 13 Middle East; 18 Latin America; 15 Central & Eastern Europe; 12 in Asia PLUS 27 new country winners out of a total of 65 countries published

Revealed online today, these results were based on the votes of more than 1,500 private banking professionals across the globe. The response rate was up 16% compared to last year. 

Full results index



Also published online today, as well as in the February issue of Euromoney, is a comprehensive analysis of the challenges facing the global wealth management industry, including interviews with the heads of most of the world’s top private banks.

Coverage includes:

> Detailed analysis of all the changes in the global and regional rankings: Private banks rebuild trust and sharpen their focus 

Regaining trust, restoring returns
Euromoney interviews:

  • Walter Berchtold, CEO of private banking, Credit Suisse
  • Douglas Wurth, CEO, JPMorgan International Private Bank
  • Sallie Krawcheck, President, Bank of America Global Wealth and Investment Management
  • Jacques d’Estais, CEO, BNP Paribas Wealth Management
  • Chris Meares, CEO, HSBC Private Bank
  • Jane Fraser, CEO, Citi Private Bank
  • Pierre de Weck, head of Private Wealth Management, Deutsche Bank
  • Juerg Zeltner, CEO, UBS’s wealth management division

> Interviews with the heads of all of the major players in the global private banking industry, discussing issues such as:

  • The battle for clients in growth markets such as Latin America and Asia
  • The challenge of persuading clients to move into riskier, higher-return asset classes
  • The difficulties of hiring sufficient numbers of qualified private bankers to match their growth projections and meet client needs
  • The increasingly fierce fight to win mandates from ultra-high-net-worth clients
  • The growing importance of providing watertight privacy and security



> An in-depth look at the battle between local and international private banks in four of the key growth markets — Brazil, Russia, India and China — and detailed analysis of the competitive landscape revealed in the survey results.


> A detailed study of the continuing debate surrounding open architecture, and whether it can really generate the kind of revenues that private banks need:  The ins and outs of open architecture


Euromoney
’s survey and analysis are a key resource for all private banking professionals around the world. Our coverage and results are available only to subscribers. Subscribe now for full access to the results.

If you have any questions about how the survey is conducted, please contact:

Tim Moxon
Head of Research, Euromoney
tmoxon@euromoney.com

Private Banking and Wealth Management Survey 2011

 

Features

Detailed analysis of all the changes in the global and regional rankings:
Private banks rebuild trust and sharpen their focus


A detailed study of the continuing debate surrounding open architecture, and whether it can really generate the kind of revenues that private banks need:  The ins and outs of open architecture

Heartwood Wealth Management’s model of discretionary portfolio management might provide some insights into how private banks will choose to invest on their clients’ behalf: Model portfolios – a private banking solution?


Interviews with the heads of all of the major players in the global private banking industry: Regaining trust, restoring returns


A closer look at four of the key battlegrounds that the heads of the world's eight best private banks identify as crucial to their growth strategies: Brazil, Russia, India and China.

How are local wealth managers facing up to competition from the international players? What do clients in these countries want from their private banks? And what do the results of Euromoney's private banking survey 2011 tell us about the competitive landscape?

Brazil’s private banks compete head-on for risk-averse clients

Private banks set Russian growth agenda

Wealth managers chase India’s burgeoning rich

Foreign and local banks battle for China’s golden generation

The Survey
Full results index
Methodology


More information on the private banking and wealth management survey