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World's Best Private Bank
JPMorgan Private Bank clients enjoy the best of both worlds: an intimate relationship with a US lender that is allied to the power of a genuinely global financial leader. It is led by Mary Callahan Erdoes.
Global Awards
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Traditionally, the route to acquiring new clients was achieved via the expansion of an adviser’s personal network. This was cultivated by doing the rounds, attending events and conferences, and through referrals. Business was steadily attained, then systematically, over years and even generations, retained. -
Goldman Sachs has a 22-year track record of outperformance in creating, analysing and constantly reassessing wealth management portfolios. Key to this is its internal Investment Strategy Group’s (ISG) proprietary strategic asset-allocation data crunching, and the way its wealth advisers engage with the ISG team to provide tailored investment recommendations to ultra-high net-worth individuals, family offices and institutional investors.
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Liechtenstein-based LGT Private Banking is a standout leader in family-office services for good reason. Anyone wealthy enough to have their own family office is looking for a blend of attributes from their main provider: ideas and innovation on the one hand; safety and stability on the other.
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At a group level, BNP Paribas Wealth Management is a perpetual leader in the ever-growing field of sustainability. In 2023, Euromoney called the Paris-based lender the world’s best bank for sustainable finance for the third year in a row. We cited its status as the poster child for providing sustainable banking at scale, and its big and bold shift away from fossil fuels.
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Goldman Sachs has been helping clients manage the tricky process of safely and seamlessly moving money from one generation to the next for, well, generations.
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Amid the constant hum of activity in the private-banking world, it can be easy to forget the importance of discretionary portfolio management.
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Competition in the high net-worth category is fierce: every private bank targets HNW customers, with the aim of making as many as possible of them long-term customers.
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“We take pride in being a trusted partner, not only in exclusive investment and financing solutions, but also in environmental, social and governance opportunities, legacy and estate planning, wealth planning, and philanthropy,” Deutsche Bank Private Bank declared in its pitch document for this award.
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“Philanthropy is in our DNA.” So says JPMorgan Private Bank, which for more than 160 years has served as a philanthropy adviser and investment manager to many of the world’s leading charitable institutions and philanthropists.
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Deutsche Bank Private Bank is far from the only global wealth manager to have transformed its business model and its fortunes in recent years.
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JPMorgan Private Bank says that it has “always been intentional about engaging future generations”. People are transitory and money can be too, but it doesn’t have to be. Any family knows wealth can be lost as easily as it can be won, and consistently falling on the right side of that equation means engaging the next generation, and the one after that.
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Deutsche Bank Private Bank takes this award for the second year in a row. The German lender was founded more than 150 years ago with the express aim of supporting entrepreneurs in its home market and, later, beyond.
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In 2023, Singapore attracted S$12.7 billion ($9.43 billion) in fixed asset investments, amid a challenging global environment, according to data from the country’s economic development board. The previous year it was even higher, at S$22.5 billion.
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India is a key market for Julius Baer. Onshore, it is the largest foreign private bank, with a history stretching back more than 30 years, catering to high and ultra-high net-worth customers.
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Citi’s chief investment office is at the heart of Citi Private Bank. And at the heart of that is David Bailin, the US bank’s chief investment officer.
Africa's Best Regional Private Bank
As Africa’s largest bank by assets, Standard Bank Wealth and Investment is well-placed to take advantage of the growth of the continent as a private-banking market. The firm is led by Jacques Els.
Regional Awards
Country Awards
Asia's Best Regional Private Bank
In a year that has seen Asia's financial institutions face mounting pressures from geopolitical headwinds, DBS retains its mantle as Asia’s best private bank 2024. This award comes in tandem with two other regional honours: best for family office services and best for high net-worth (HNW) individuals. Its managing director and group head is Joseph Poon.
Regional Awards
Country Awards
CEE's Best Regional Private Bank
Over the past decade, OTP Group has grown as a regional bank in central and eastern Europe – even as other international banks have begun to retreat from the region. Listed in Budapest since 1995, the group now covers 12 countries, counting 17 million customers. Although it is headquartered in Hungary, it also considers itself a market leader in Bulgaria, Serbia, Montenegro and Slovenia in terms of the overall banking market, including retail.
Regional Awards
Country Awards
Latin America's Best Private Bank
In recent years, the private banking industry in Latin America has been undergoing rapid transformation, with lower real interest rates and digitalization fragmenting traditional brands. And senior bankers forming their own boutiques.
Regional Awards
Country Awards
Middle East's Best Private Bank
Emirates NBD Private Banking’s retail banking and wealth management division generated its highest-ever revenue and strongest loan growth during the awards period and the firm is named Euromoney’s best private bank in the Middle East this year.
Regional Awards
Country Awards
Nordics and Baltics' Best Regional Private Bank
Amid strong competition between the region’s leading private lenders, Carnegie Private Banking is the judging panel’s choice for best private bank in the Nordics and Baltics this year. The bank has also been recognized in three other categories: family office services, investment research and ultra-high net-worth individuals.
Regional Awards
Country Awards
North America's Best Private Bank
If JPMorgan Private Bank has one objective, it is to provide to clients that magic combination of an institution with the power of a global financial leader and the intimacy of a private-banking relationship. It is led by Mary Callahan Erdoes.
Regional Awards
Country Awards
Europe's Best Private Bank
BNP Paribas Wealth Management operates across 17 countries, serving a client base of entrepreneurs, family offices and high net-worth individuals.