Privatelyowned companies represent an important part of the overallwealth of our client base


with entrepreneurs to realise their ambitions, finance their businesses and manage their legacies for more than 160 years. “We continually seekways to

better serve this sophisticated client group,whose banking needs require private and corporate solutions along thewhole entrepreneurial lifecycle, often across different countries and currencies,” says PhilippWehle, CEOinternational wealth management at Credit Suisse. “Privately owned companies are the backbone ofmany economies and represent an important part of the overall wealth of our client base.” The bank has further strengthened

this focus with the appointment of ChristianMeissner to co-ordinate wealth management and investment banking services for entrepreneurial high networth clients, offering them lending and wealth planning, as well as advice on mergers and acquisitions, concentrating on mid- market opportunities. Many of these clients have

connections to emerging markets, where Credit Suisse is particularly strong. Itwas one of the first foreign banks launching in the Middle East back in 1967, offering a “robust” approach to riskmanagement, minimising any focus on ‘politically exposed persons’. Servicing Russian clients,

who typically need support in Switzerland, the UK, continental Europe and Asia, has also proved lucrative, with the bank developing “a deep understanding of the country’s specific requirements” over the last 25 years, according to Anton Cherny, head ofIWM emerging Europe at theSwiss bank. Against a challenging backdrop,

Credit Suisse has recruited wisely to replace key staff, including former wealth management boss Iqbal Khan,who defected to Zurich rival UBS after a well-publicised fallout


with group CEOTidjane Thiam,who has also since left the bank. YB


BTGPactual’s wealth management business has grownsteadily across Latin America over the last fewyears. Alongside its regional expansion, the business has opened newoffices in the US and Europe with the aim of boosting its international investment offerings. “This uniquepowerful

combination puts our clients with the best of twoworlds: the close relationship and regional expertise of a local bank, combined with the diversification and sophistication of international products,” says Rogerio Pessoa, head of wealth management. The bank’s large investments in

technology contributed hugely to its ability to cope with themany challenges of 2020. Being able to onboard newclients and service existing ones digitally, through the bank’s portal and apps,was crucial during the coronavirus outbreak. “We already had tools that

allowed virtual meetings to a point where we are able today to be closer to clients compared to the period when physical meetings were a norm.Wewere able to service our clients with the same level of agility and flexibility, two of BTG’s well known characteristics,” Mr Pessoa says. In terms of investment products,

the prolonged low interest rate environment has pushed clients to seek newsources of returns. Mr Pessoa points to alternatives, thematic investments and ESGas areas of growing interestamong their clients.

“We sawgrowth in [ESG] products

in 2019 and the trend continues in 2020. Somefamilies are already actively engaging in these drivers for portfolio allocation, especially as second and third generations take responsibility for family portfolio allocation,” he says. Also, clients have continued

to show appetite for investment in technology. “BTG Pactual, as a leader in technology in the financial sector in the region, has not only been able to source quality products but also spur client’s interaction with tech ecosystemthrough Boostlab, our corporate venture arm.”PG


With a presence in 12 countries, a key growth driver forAndbank remains its international footprint. Last year, its AuMgrew10 per cent to €24bn ($28bn), ofwhich more than 80 per cent are booked outside Andorra, with Spain accounting for the lion’s share. As most of the bank’s clients are

global, with strong links to Europe and Latin America, “offering global support to clients is a must,” says Ricard Tubau, CEOof Andbank. The bank focuses on upper

affluent clients, with assets ranging from€1mto €10m. This segment offers a good

combination of growth and return on assets and is less targeted by competitors, mostly focused on UHNWindividuals. “We have sufficient critical mass

to compete in private banking against local universal banks and ourSwiss competitors,” boasts Mr Tubau. “Excellence in client service is

at the core of our proposal, and is required in several dimensions:

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