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GLOBAL AND KEY REGIONS


BEST GLOBAL PRIVATE BANK UBS Highly Commended: Citi Private Bank


BEST PRIVATE BANK IN ASIA UBS


BEST PRIVATE BANK IN EUROPE PICTET


well positioned by their region’s preparedness for a deep and long- lasting pandemic. “As Covid has been going on


longer in Asia than the rest of the world and with most banks already having had past experiences with Sars, they were coming froma stronger starting position,” suggests Simeon Fowler, CEOofHong Kong- based headhunter Fowler Fox. The bankers he deals with have also been able to dedicate more time, not less, in talking to clients,which has strengthened relationships. There is also evidence of Asian


banks beginning to spread their tentacles globally, including Bank of Singapore,awarded best private bank in theUnited Arab Emirates. Many of these firms have benefited fromAsian clients buying real estate in London, potentially boosting the banks’ European standing. The bankswhich have performed


best in ourawards – Citi, Credit Suisse and UBS – are characterised by this regional penetration and diversity. UBS has triumphed globally, in Asia and in the sustainable and impact investing category. Deadly Zurich rival Credit Suisse also performed well in Asia, while triumphing in the Middle East, Russia and in the entrepreneurial segment,wheremany clients are Asian sourced and serviced.


COMPETINGPOWERHOUSES Thesepowerhouses are competing more intensely on the other side of theworld than on their doorstep and the numbers will further encourage such behaviours. The latest emerging battleground


is south-east Asia, home to more than600mcitizens, predominantly in their 20s and 30s. These demographic factors eclipseEUand US dynamics, argues Kian Leong, partner withPwCin Singapore. Add in China and Japan, and there


12 GLOBAL PRIVATE BANKING AWARDS 2020


is a globally compelling business case. “The potential is immense and simply cannot be ignored,” he says. “The Asians are coming and it’s


not temporary,” argues Gerard Aquilina, partner at family office advisers Cone Marshall. The expansion of European banks into Asia, evident since 2008, will continue. But the one-trick pony of the past,where the largest banks won assets predominantly in Asia, is no longer a sustainable model for private banking, hewarns. Despite the increasing gap


between rich developed economies and poorer emerging markets, and the tendency for our politicians to choose economic nationalism over internationalism,major banks are no longer retrenching on home turf as they did five years ago. Global diversification isnowexemplified by UBS’s merging of international and US operations and expertise.Whenit comes to serving global families, this will increasingly prove the gameof the future.


BEST GLOBAL PRIVATE BANK; BEST PRIVATE BANK IN ASIA; BEST PRIVATE BANK FOR IMPACT AND SUSTAINABLE INVESTING UBS


UBS’s Asia-Pacific private banking operation enjoyed its best half year on record in the first six months of 2020. Profits doubled in the second quarter, boosted by high demand for structured products, according to the bank. “Cost discipline” also reduced expenses, driving the cost/income ratio down to its lowest ever level. Iqbal Khan, the flamboyant, newly


appointed co-head ofUBS Global Wealth Management, is not slow to sing his newemployer’s praises in this region.“With over 150 years of experience in dealing with multi- generation families, we’re well


BEST PRIVATE BANK IN CENTRAL AND EASTERN EUROPE ERSTE PRIVATE BANKING


BEST PRIVATE BANK IN THE MIDDLE EAST CREDIT SUISSE Highly Commended: HSBC Private Banking


BEST PRIVATE BANK IN LATIN AMERICA BTGPACTUAL Highly Commended: Santander Private Banking


COUNTRY AWARDS


BEST PRIVATE BANK IN ANDORRA ANDBANK Highly Commended: MoraBanc


BEST PRIVATE BANK IN AUSTRALIA PRIVATE WEALTH – WESTPAC GROUP


BEST PRIVATE BANK IN AUSTRIA ERSTE PRIVATE BANKING


BEST PRIVATE BANK IN BAHRAIN AHLI UNITED BANK B.S.C.


BEST PRIVATE BANK IN BELGIUM KBC PRIVATE BANKING Highly Commended: BNP Paribas Fortis


BEST PRIVATE BANK IN BERMUDA THE BANK OF N.T. BUTTERFIELD & SONLIMITED


BEST PRIVATE BANK IN BRAZIL ITAÚ PRIVATE BANK Highly Commended: BTGPactual


BEST PRIVATE BANK IN BULGARIA UNICREDIT BULBANK


BEST PRIVATE BANK IN CANADA RBC WEALTHMANAGEMENT


BEST PRIVATE BANK IN CHILE LARRAINVIAL


BEST PRIVATE BANK IN CHINA CHINA MERCHANTS BANK


BEST PRIVATE BANK IN COLOMBIA BTGPACTUAL Highly Commended: Bancolombia


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