Dear colleagues,
Hong Kong, 4 June 2013 – Private Banker International (PBI), the leading journal for the global wealth management industry has announced the winners for the 2013 Private Banker International Greater China Awards, held in conjunction with the PBI Forum.
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Please find our media release enclosed for your information.
Press Release: Innovation, client centricity and regional strength – key attributes marked out winners in Private Banker International Prestigious Awards for Greater China 2013
- Private Banker International, the leading journal for the global wealth management industry, has announced the winners for its Greater China Awards.
- Award winners will be announced and presented at the Private Banker International Forum on Tuesday, 4 June 2013 at The Grand Hyatt Hotel, Hong Kong.
- Members of the media are invited to attend the PBI Forum and Awards Presentation held at Lounge & Library Room, Mezzanine Floor, The Grand Hyatt Hong Kong, 1 Harbour Road.
The PBI awards are regarded as the most credible in the industry, voted by the industry for the industry.
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By GlobalDataNicholas Moody, editor of PBI, said: "2013 continued the trend of impressive nominations for the Private Banker International Awards. We are seeing comprehensive overviews of private banking businesses from across the Greater China region. This illustrates the growth of the wealth management industry in this dynamic region.
This year’s winners underline the importance of innovation and keeping up and ahead of clients’ interests. Banks across the region are expanding their product range and starting new client propositions, including those serving the UHNW and family office space. The local banks have the march on their foreign rivals in terms of size and variety of customers, while the foreign, especially global banks, are leading the way in collaboration with their corporate banks."
"An interesting trend this year has been the majority of women nominated across our private banker categories. It will be fascinating to see how this will impact private banking workforces in the coming years.
Annex 1
Private Banker International Greater China Awards 2013 Winners & Finalists
I. Best Private Bank in China
Winner
China Merchants Bank
Finalists
Bank of China, HSBC Private Bank (Suisse) SA, ICBC
II. Best Private Bank in China (Foreign)
Winner
Citi Private Bank
Finalists
BNP Paribas Wealth Management, HSBC Private Bank (Suisse) SA
III. Best Private Bank in Hong Kong
Winner
HSBC Private Bank (Suisse) SA
IV. Best Private Bank in Hong Kong (Foreign)
Winner
BNP Paribas Wealth Management
Finalists
Citi Private Bank, HSBC Private Bank (Suisse) SA, JP Morgan, UBS AG,
Societe Generale Private Banking
V. Best Private Bank in Taiwan
Winner
Chinatrust Commercial Bank
Finalists
HSBC Private Bank (Suisse) SA, Taipei Fubon Bank, Taishin Bank
VI. Best Private Bank in Taiwan (Foreign)
Winner
UBS AG
Finalists
BNP Paribas Wealth Management, Citi Private Bank, HSBC Private Bank (Suisse) SA
VII. Outstanding Private Banker (Greater China-North Asia)
– Paulina Lee, Societe Generale Private Banking
VIII. Outstanding Young Private Bankers (Greater China-North Asia)
– Recognising up-and-coming talent in the private banking industry
o Varun Minocha, Coutts
o Wenxin Zhang, China Merchants Bank
Annex 2
Private Banker International Greater China Award Winners 2013 – Quote from our Editor, PBI
(Please attribute the following quotes to Nicholas Moody, Editor of Private Banker International)
I. Best Private Bank in China
Winner
China Merchants Bank
"China Merchants Bank continues to grow assets under management at close to 10% and has around 20,000 clients, proof that it’s focused private banking model is winning over clients. It has put considerable effort into expanding its product suite and deploying innovative services. The judges noted with interest the development of its family office service for HNW families with more than RMB 500 million."
II. Best Private Bank in China (Foreign)
Winner
Citi Private Bank
"Citi Private Bank continues to show that its focus on offshore entrepreneurs is a wise decision. From 2010 to 2012, client AuMs grew more than three-fold. Net new money in the first comparable period grew more than four-fold. It also offers excellent investment opportunities to clients via its ‘club’ investment deals. An innovative Investments Lab and opportunities to be involved in next gen, family office and Greater China conference underlines its holistic approach."
III. Best Private Bank in Hong Kong
Winner
HSBC Private Bank (Suisse) SA
"HSBC continues to maintain its market leading position with a jump in AUM in 2012 as it increased its share of wallet among Hong Kong clients. It is leveraging its unique onshore presence in Hong Kong and is arguably best-placed to give clients the offshore capability many more are demanding. Its well-known Private Wealth Solutions wealth planning offering and club deals to key clients illustrate its holistic appeal to HNW and UHNW clients."
IV. Best Private Bank in Hong Kong (Foreign)
Winner
BNP Paribas Wealth Management
"BNP Paribas is making striking headway in the Hong Kong market with client assets increasing more than 40% in 2012. It has notable success driving collaboration between its corporate investment bank and wealth units with a big increase in the amount of introductions and referrals – which were brought to life in the submission. BNP Paribas also appears to be leveraging its European expertise well to offer unique opportunities to key Asian clients."
V. Best Private Bank in Taiwan
Winner
Chinatrust Commercial Bank
"Competition between Taiwan’s two top private banks remains fierce, with Chinatrust Commercial Bank leading the field in assets under management and client numbers in the higher wealth bands. It has readjusted its client segmentation model and launched several new membership levels to match changing needs including a three-level Family membership scheme."
VI. Best Private Bank in Taiwan (Foreign)
Winner
UBS AG
"Taiwan remains one of UBS’ notable onshore businesses and the Swiss bank is leading a strong field of foreign contenders. Its well-publicised plans to boost client advisers across the region will help shore up its standing in Taiwan. UBS’ group-wide emphasis on its wealth management business also put its Taiwanese unit in a strong position."
VII. Outstanding Private Banker (Greater China-North Asia)
– Paulina Lee, Societe Generale Private Banking
"Paulina Lee is a senior director and team head at Societe Generale Private Banking who has experience across the region having worked in both Taiwan and Hong Kong. With 22 years’ experience, she has overseen a growing team that have delivered above target KPIs, as well as maintaining an involved lifestyle outside work. She maintains a prudent approach to the role, successfully identifying and preventing an external fraud attempt."
VIII. Outstanding Young Private Bankers (Greater China-North Asia)
– Recognising up-and-coming talent in the private banking industry
o Wenxin Zhang, China Merchants Bank
o Varun Minocha, Coutts
"Wenxin Zhang is a senior manager at China Merchants Bank and has a stellar start to her career. She manages more than $350 million assets under management and is one of the top performers in Beijing. She also oversees a significant team managing more than $2 billion. Client recommendations in her submission also underlined how valued she is by the customers she serves – the ultimate recognition."
"Varun Minocha has been busy helming and re-establishing Coutts’ new NRI team since relocating to Hong Kong in January 2011. Together, the team has increased their existing client base by 60%. Under Varun’s leadership, he increased the monthly average revenues by 220% and ROA by 43%. Under his leadership operating cost-income ratio, it has also dropped to enviable levels. Varun is succeeding in motivating his staff, generating positive returns for the business."
