The echoes of 2014 have been loud in Brazil’s private banking industry over the past 12 months. A precipitous fall in interest rates – followed by a meteoric rise – has left the market completely the same but also very different.

Pure-play Swiss private bank Julius Baer has had to reconfigure its business model for the 2020s. Chief executive Philipp Rickenbacher talks to Euromoney about why scale and nurturing talent are key to the long-term success of a firm that does just one thing and one thing well: serving wealthy private clients.

Citi’s Wealth at Work, which delivers wealth services to white-collar professionals in sectors from law and asset management to private equity, is less than two years old. Its founder and global head Naz Vahid talks to Euromoney about the concept and where the division can go from here.

Private banks that fled India in the 2010s are returning in force. Those that never left are frantically hiring. With a fast-growing economy creating a lot of new wealth across every sector, India is once again the toast of wealth managers.

A few years ago, some big banks didn’t have a chief investment officer. Today, CIOs oversee a vast network of experts churning out reports, podcasts and webinars to help corporates plan ahead and families grow their wealth. How is all this content created? And how much does it all cost?

Will the fall of Credit Suisse be a seismic moment for private banking? Probably not – the reality is that wealthy clients need their financial advisers too much. Wealth is flighty for sure, but it usually alights nearby at a more stable lender.

Droit helps traders decide in milliseconds if deals comply with the ever-changing rules and aims to do the same for wealth managers.

The COO of Deutsche Bank’s International Private Bank, Sandra Wirfs, tells Euromoney how it has been able not just to slash costs but also to make its wealth management business more cost-efficient than the core bank.

Four years ago, Christian Sewing set out to give the German bank new direction. His plan, based on income-rich services like private banking, continues to surprise and succeed. Euromoney caught up with the head of International Private Bank, Claudio de Sanctis, to discuss last year’s financials and his plans in Asia and the Middle East.

The Swiss bank stands apart from its peers. It helped its clients profit, both in the serene waters of 2019 and in the wake left by Covid-19 as it spread across the world in 2020

“I think this crisis has shown why being with a firm focused on wealth management as a primary business and having a global perspective matters to clients,” says Tom Naratil, co-chief executive of UBS global wealth management (GWM) and president of UBS Americas.

Our review period was a difficult one for private banking operations in the region, as it was worldwide: the fourth quarter wiped out huge chunks of revenues and assets for some international and local players, and it was a year that required sound individual advice for clients.

Household net financial wealth in CEE has roughly doubled since 2006 and private banking and wealth management services are increasingly in demand across the region.

For the second year running Credit Suisse is Latin America’s best bank for wealth management, this year bolstered by the completion of a three-year turnaround across the whole bank.

With a new strategy of regionalization, integration and innovation, Credit Suisse’s wealth management business has set itself apart from its peers and brought the ethos of Swiss personalized service to an international platform.

This year Lombard Odier is western Europe’s best bank for wealth management. It has $262 billion in client assets, making it a medium-sized player, yet it succeeds in having the feel of a boutique wealth manager thanks to its structure.

The award for best bank for wealth management in Africa this year goes to Standard Bank. With R79 billion ($6.14 billion) in wealth and investment assets under advisory, Standard Bank is Africa’s largest wealth manager.

Western Europe’s best bank for wealth management, Lombard Odier, was established 220 years ago. Yet despite a tight connection to its roots and with Patrick Odier as managing partner, the bank is an example of the new model of wealth management.

It has not been easy for those without a retail presence to win the affections of America’s wealthy, but UBS – Euromoney’s best bank for wealth management in North America – seems to have done just that. UBS Wealth Management Americas (WMA) this year had its most profitable first quarter in the history of the firm, following record third and fourth quarters in 2016.

There are few banks that can advise wealthy clients across the multitude of different countries and cultures in CEE, but UniCredit has made itself the bank of choice for clients in nearly every single one, earning it the award for best bank for wealth management. Its focus for the last 12 months has been one of organic growth and innovation. The bank has focused on structured products.

The region’s wealthy are another group increasingly targeted by both local and international banks. The regional wealth management award goes to a firm with global breadth and expertise in this area, Credit Suisse, which also keeps the top spot in the Middle East in Euromoney’s 2017 private banking survey.