The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Surveys

Private banking 2004: The reinvention of private banking

In the bull market it seemed that investment performance would determine the winners and losers in the fast-growing and newly transparent private wealth management industry. But what the wealthy most need is independent advice and a sense of who is good at what. Euromoney surveys the best providers. Peter Lee reports.

Research by Kapila Monet, Elizabeth Mundy and Rebecca Sleath

Full results and methodology

Profiles : UBS Wealth Management , Sarasin, Bordier & Cie, Credit Suisse Private Banking, Coutts, Bank Privat, Degroof, Mandatum, SG Private Banking, Sal Oppenheim, CenE Bankiers, Banif, Cuatrecasas, Carnegie, Citco, Man Group, Noriba, UBS, PwC

THESE ARE WORRYING times for the private banks and other financial firms competing to win and hold the custom of the world's rich. As leading bourses enjoy a sustained rise after a prolonged bear market, wealthy individuals are recovering from the shock of seeing paper fortunes destroyed and are reassessing the performance of their financial providers through the recent wrenching volatility. They are not all happy with what they see.

Frank Canosa, managing director at Julius Baer, says: "When the malaise is general, as it has been, clients stay put. During a downturn, clients generally feel it's not the best time to change horses, as everybody is doing badly. It's now, when markets turn up again, that clients analyze you very directly. It's now that they may leave."

The first signs of the worst being over for high-net-worth individuals were already emerging by this time last year.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree