The private banking industry has had to modernize as never before to keep pace with the global needs of clients, new regulation and rebuild trust. Change has not come easy, but for those wealth managers that have blended global capability with product expertise in local markets, they continue to stand out from the crowd.
Jürg Zeltner, chief executive of UBS Wealth Management, commented: “It means a lot to our people that their efforts are being recognized. Of course it helps enormously to have had strong investment performance in 2012 but this also acknowledges how we have stayed close to clients and shared and explained our capabilities.”
With Credit Suisse ranked second globally, JPMorgan moved up one position on last year to third, while HSBC is ranked fourth and Citi fifth.
Phil Di Iorio, chief executive of JPMorgan Private Bank, commented: “Being global as a private bank is critical to long-term success because both markets and clients have become more globalized. We are growing fastest in markets outside of the US, with a particular focus on expansion in Asia and Latin America.”
The 2013 survey is the 10th annual survey conducted by Euromoney, and reveals the evolution of the private banking industry during the past decade. The trends that are shaping the industry are analyzed in detail in the editorial coverage accompanying the survey results, which will be published in the February issue of Euromoney magazine and available online to subscribers. Coverage also includes interviews with the heads of private banking at the largest global wealth management institutions.
To access the results and coverage of Euromoney’s Private Banking Survey, contact: • Nicola Baker at email@example.com or telephone +44 207 779 8754.
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Banks or clients wanting to view more detailed Private Banking Survey results and analysis can do so by contacting Mark Lilley, head of data publishing, Euromoney: Tel: +34 915946046; email: email@example.com