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The importance ofhuman connections between clients and their advisers will always be essential


JEFFBUSCONI BANK OF AMERICA


is key for TaishinBank’s services. To combinedataknowledgeandinsights with a complete digital offering enables the bank to set itself apart fromits competitors in the region,” says Samuel Lin, deputyCEO. The bank serves high networth


individuals,family officesand corporates, offering a comprehensive range ofwealthmanagement solutions, including trust services, insuranceand investments via an extensive range of products. The unstoppablemove towards


amore digital bankingworld has driven the bank to build anomni- channel platform that serves clients 24 hours, througha combination of video conferencing, digital branches andother services such as face-to- face conversations viaVTMs[video tellermachines]duringnon-business hours. Recently, the bankintroduced


its ‘Loyalty Program2.0’andthe concept of ‘TaishinPoints’, aimed at improving the customerexperience andpromoting long-termloyalty. Launchedduring the pandemic, the programencourages clients to increase their online transactions to earn points,whichcan be exchanged for VIP perks andexclusive benefits such as cash credits, travel or hotel vouchers.PG


BEST PRIVATE BANK IN NORTH AMERICA FOR CUSTOMER SERVICE; BEST PRIVATE BANK FOR PHILANTHROPY SERVICES BANK OF AMERICA PRIVATE BANK


BankofAmerica’s team-based approachis key to establishing a deep understanding of clients’ values andobjectives, prior to creating customised strategies.Such a teamwould typically include a private client adviser, supportedby specialists in portfoliomanagement,


52 GLOBAL PRIVATE BANKING AWARDS 2020


wealth strategy, philanthropy, credit, bankingandtrust services. “Having served generations of


families,wehave theknowledge, resources andexpertise in areas such aswealth strategyandinvestment managementto serve their needs across generations,” says Jeff Busconi, chief operating officer and head of products andservices atBankof America PrivateBank, whichmanages $281bnformore than 50,000private clients. The bank has observedchanging


priorities for its next generationof clients, accelerated by the Covid-19 pandemic, with an increased focus ontransitioningwealth between generationsandmaking sure this wealth is servingapositive purpose. “The pandemic has broughtmany


of our families closer together to have these conversations,” saysMr Busconi, with clientsnowmore likely to think aboutmanaging theirwealth fromawhole family perspective. “It is an opportunity to look at everything fromwealth andestate plans to trusts andinvestment.” Amongthe topics beingdiscussed


byfamilies are philanthropyand ethical investments, with clients increasingly addressingeconomic, environmental, social, racialand public health issues, whichhavebeen further exacerbatedbythe pandemic. Each day the bank hosts around


2,000virtual client meetings, with these remote connections becoming a“way of life”, bringing together geographically dispersed families. Butphysical meetings are still


expected to returnpost-pandemic, with the bank envisioning a future blend of “high-techandhigh-touch” techniques. “Wealthmanagement is


inherently a people business,” says MrBusconi. “The importance of humanconnections between clients and their advisers will always be essential.”YB


BEST PRIVATE BANK IN AUSTRALASIA FOR CUSTOMER SERVICE WESTPACNEWZEALAND


Westpac PrivateWealthManagement is a division ofWestpacNewZealand, offeringhighnetworthclientswealth management servicesand investment expertise fromone of the largest financial institutions in the country. Aspart of its growth strategy,


the business has focused efforts onidentifyingnewclients–with particular attentionto newresidents inNewZealand–aswell ason building deeper connections with existing customers. In terms of investment offerings,


recent developments included the implementationof themeasurement ofESGriskand carbonanalysis for all equity portfolios, a reviewof their approachto alternative investments, andbringing themanagement of domestic fixedincomestrategies in-house, to provideenhanced risk managementand increase oversight. “We are committed to providing


exceptional services to our clients andbuilding deeper connections. Wefocusonthe valuewecan add to our clients’ lives, allowingthem to spendmore timeonthe things that areimportant to them,” saysKatie Christoffersen, headof privatewealth management. MsChristoffersen explains that the


coronavirus crisis triggered the rapid implementationof newprocesses to support clients.“We have robust business continuity plans so our clients cantrust us to take care of their assetsandprotect their risk while they spendtime focusing onrebuilding or growing their businesses, helping their children or spending less time in the office.” Looking ahead, the bank has


plans to continueworkingonthe development of newprocesses, strengthening theirwealth


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