Private Banking and Wealth Management Awards 2019
Private Banking, Wealth Management, Investment and ETF Awards
Best Private Bank
Citi Private Bank
Citi Private Bank is recognized for its continuing excellence in providing access to local and global markets, as well as delivering comprehensive investment strategies with the potential for attractive risk-adjusted returns. This is the sixth year in a row that Citi Private Bank has won this award.
Best Private Bank – HNWIs
J.P. Morgan Private Bank
Since more multinational enterprises have established their presence in the region, particularly in Hong Kong, as a gateway to different locations in Asia, J.P. Morgan Private Bank has taken the opportunity to expand its business in the Greater China market, serving the ultra-high-net-worth clients.
Standard Chartered Private Bank
Standard Chartered Private Bank has been expanding in the region, especially in the ultra-high-net-worth space. In 2018, the bank invested in transforming its people and culture, as well as, enhancing its relationship managers’ productivity.
Best Nextgen Private Bank
Citi Private Bank
Citi Private Bank’s Next Gen programme was created to educate scions of the bank’s ultra-high-net-worth clients to be more financially savvy so that they can make more informed decisions about their personal and family wealth, as well as their family business or entrepreneurial venture.
Best Boutique Private Bank
The Swiss wealth management group focuses on offering customized private banking services across the spectrum of high-net-worth clients seeking an independent adviser. Julius Baer continues to post strong growth in new business.
Best Wealth Manager
The bank’s enhanced wealth management investment solution suite and sophisticated digital innovation and platform put it at the forefront of the fast-growing wealth management industry in Asia, particularly catering to tech-savvy millennials.
Citi continued to expand its business in the region and recorded strong growth in client base, AUM and net new money. With its digitalization capabilities, the bank provides a wide range of wealth management products and solutions.
Best Private Bank – HNWIs, by Country/Territory
Bank of China International Limited
Bank of China International recorded double-digit growth in the number of clients and a rapid growth in net new money in 2018, driven by new wealth creation and winning a larger market share. The bank also further enhanced its platform to better service clients.
Waterfield Financial and Investment Advisors Private Limited
With the increasing awareness among high-net-worth clients regarding capital preservation and value for fees, the company continued to build up its capability in providing customized services, especially to the largest Indian families.
With an industry-leading net revenue, CTBC Bank continued to expand its business, offering a wide range of products and services to Taiwanese high-net-worth clients. In 2018, the bank launched a comprehensive set of family financial services.
KASIKORNBANK Private Banking
KASIKORNBANK Private Banking has been capturing the momentum of the growing number of HNWIs and offering services to wealthy families and individuals. In 2018, it continued to expand the business with global standard services.
Best Private Bank, by Country/Territory
China Merchants Bank
China Merchants Bank private banking has continuously expanded and innovated its open product platform with a focus on risk control. With a major market share in China, the bank continued to optimize its product planning and R&D process in 2018.
Agricultural Bank of China
Agricultural Bank of China has been growing rapidly in China’s private banking space and has developed a sizable client base as of 2018. The bank is also building its private banking global service system leveraging its overseas resources.
BNP Paribas Wealth Management
With a focus on offering customer-centric services, BNP Paribas Wealth Management has continued to service the most sophisticated clients in Hong Kong. The bank also values potential business opportunities with the next generation of wealth.
HSBC Private Banking
HSBC Private Banking attaches great importance to the Hong Kong market, which makes up a major part of the bank’s global private banking business. The bank understands the importance of serving families through generations via its bank’s trust business.
Being a major player in India, IIFL has been building its key differentiators in aspects such as people, platform, product and innovation. IIFL has also been expanding its business and client base, onboarding wealthy families and individuals in India.
Kotak Wealth Management
Kotak Wealth Management has been building up on its institutional family office, asset advisory and transaction-based distribution and referral businesses. Kotak Wealth Management has continued to build its client base of families in India.
Mitsubishi UFJ Morgan Stanley PB Securities has been continuously expanding its range of services in collaboration with the group companies in MUFG. The enhancement of testament trust, real estate and M&A related businesses have strengthened the bank’s capability to build close relationships with clients.
Maybank’s private business recorded strong growth in AUM and the number of clients in 2018 despite the market downturn. The bank has demonstrated its capability to provide innovative solutions, servicing high-net-worth and affluent clients in Malaysia.
BDO Private Bank
With the support of BDO Unibank, BDO Private Bank offers a wide selection of domestic and international products and comprehensive services to meet its clients’ needs. In 2018, the bank invested in infrastructure and operational software.
After completing the acquisition of ANZ’s business in Singapore, DBS Bank has further expanded and enhanced its services. In 2018, the bank continued to build on its digital capabilities, providing better services to high-net-worth customers.
Taipei Fubon Bank
Taipei Fubon Bank has proven its capability to provide customized solutions and innovative services. In 2018, the bank started cooperating with Lombard Odier, becoming the only Taiwanese bank that works with an international private bank on banking strategies.
SinoPac Securities Corporation
SinoPac Securities Corporation has been developing its client base through more diversified and flexible products. The trading volume growth has been strong since SinoPac Securities Corporation set up its private banking business.
KASIKORNBANK Private Banking
With a strategic partnership with Lombard Odier, KASIKORNBANK Private Banking has been expanding its business in 2018. With new product innovation in place, the bank has managed to provide tailor-made services to clients.
Best Boutique Private Bank, by Country/Territory
Waterfield Financial and Investment Advisors Private Limited
With a focus on providing specialized services, Waterfield Financial and Investment Advisors mainly advises wealthy families in India. The company’s AUM recorded double-digit growth last year.
Best Wealth Manager, by Country/Territory
ICBC Asset Management
Despite the decelerating growth of the industry in 2018, ICBC’s asset management business still recorded double-digit growth in income. It launched 20 new products in 2018 and enhanced its capability in areas such as operation, risk control, and research.
Haitong International Securities Group Limited
Haitong International Securities has been expanding its business in Hong Kong and focuses on catering to the needs of Chinese clients looking for overseas services. It provides a wide range of products and advisory services to retail and high-net-worth clients.
Edelweiss is one of the top players in India’s wealth management industry with a sizable market share. Featuring a comprehensive suite of investment management solutions, Edelweiss significantly grew its client base and reduced its cost-to-income ratio in 2018.
PT Bank HSBC Indonesia
As one of the major players in Indonesia’s wealth management industry, PT Bank HSBC Indonesia has continued to expand its business in terms of AUM, with major solutions such as mutual funds and foreign exchange transactions. The bank has also demonstrated strong digital capabilities.
PT Bank Commonwealth
PT Bank Commonwealth is one of the key mutual fund industry players in Indonesia, having launched online mutual funds services in 2011. With a large investor base, PT Bank Commonwealth has performed well in mutual fund sales.
BDO Unibank – Trust and Investments Group
Being a major player in the wealth management sector in the Philippines, BDO Unibank – Trust and Investments Group (BDO TIG) grew its market share last year. The bank has continued to expand its suite of products and services.
E.SUN Bank in 2018 recorded positive growth in wealth management fee income, with AUM recording double-digit growth. Last year, the bank continued to invest in digital resources, actively applying AI to banking services.
With its diversified financial products, Taishin Bank managed to maintain strong growth in wealth management fee income in 2018. The bank also launched a new membership for its clients last year that offers more tailor-made and attentive services.
Best Boutique Wealth Manager, by Country/Territory
Noah Holdings recorded double-digit growth in 2018 in net revenue. With a comprehensive network of branches, Noah Holdings services more than 13,000 clients with wealth management solutions.
London and Capital Asia
Being a fully regulated one-stop-solution center for financial needs, London and Capital Asia maintained strong business growth last year. It also focused on providing corporate advisory solutions for the family business and advisory services for family governance and succession planning.
Wealth Management Limited
Motilal Oswal Wealth Management maintained double-digit growth in AUM last year. It offers multi-asset and multi-product advisory solutions and employs a unique fund manager selection process, servicing more than 3,000 families.
With a focus on the multi-family office business, Alpha Capital is quickly picking up as a boutique wealth manager. It recorded double-digit growth in assets driven by new wealth creation and a growing need for family office solutions.
Best Nextgen Wealth Manager, by Country/Territory
Taishin Bank’s online and mobile banking product, Richart, lowered the age threshold for opening accounts to 15 years old. The bank was also the first financial institution to promote wealth management services in association with juvenile (under 18 years old) accounts named “Young Banker Officer”.
Editors’ Triple Star
Far Eastern International Bank
The innovative branch model from Far Eastern International
Bank enhances its digitalization capability in its retail banking and wealth management business. Now, over 87% of its customers’ banking transactions are done online, higher than the industry average.
Disclaimer: The winners of The Asset Triple A Awards are welcome to translate the awards’ names in their native language.
We are happy to provide Chinese translation upon request, and we reserve the right to have the final say for any Chinese translation of the awards’ names. For clarity, please refer to our website in English.