Best global private bank
UBS Wealth Management
In Euromoney?s inaugural private-banking survey in January, UBS Wealth Management was voted as best global private bank ? a title that it has successfully maintained through the first half of 2004.
A global presence in wealth management has become a necessity for those wishing to capture the growing market in Asia and onshore Europe, and no institution has managed to broaden its reach quite like UBS Wealth Management.
As a result of an acquisition-led growth strategy, it has become the largest private bank in the world in terms of assets under management, which are estimated at $1 trillion.
Last year?s acquisitions of Lloyds TSB?s French wealth management operation and Merrill Lynch?s German private-client business, and this year?s acquisitions of UK businesses Laing Cruickshank and Scott Goodman Harris, with a combined £10 billion ($18 billion) in assets under management, have ensured UBS WM a position as a market leader in the European onshore business.
With a notable trend away from offshore to onshore banking for European high-net-worth investors, UBS WM?s commitment to build the onshore business in France, Germany, Spain, Italy and the UK has paid off.