A stellar list of nominees saw the list of categories for our London-specific awards expanded to reflect the market’s diversity at the Private Banker International Annual Awards held at Gibson Hall, London
More than 150 bankers from across Europe attended the event to see the industry’s leading lights saluted for their achievements in wealth management. Industry thinkers and doers met to debate the strategies and business practices of tomorrow’s challenges. The awards reception followed in the evening where Private Banker International recognised those who have performed exceptionally against their peers.
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Most Innovative Business Model:
Coutts: Winner
Even with a rich history of 300 years in business and a legacy of traditional approaches and processes, Coutts has adapted and evolved towards the fast pace of digital and client experience, while delivering outstanding advice to clients in a compliant and commercial way.
Key pointers making the bank innovative and ahead of the curve are:
– The launched of its RDR-compliant offering, the Wealth Management Advice Proposition, in November 2012, well before much of the wider industry. A bold but innovative step.
– A client engagement score of 8.5 and a client satisfaction score of 8.4
– The acquisition of Avaloq – a clear value add to clients with an increase in client satisfaction and fall in operating costs
– 4X7 risk model
– Solutions to address digital and social industry needs
– The recent addition of 809 new clients proves that its innovative model has been a success.
Citi Private Bank: Highly Commended
Citi Private Bank has revolutionized risk analytics and Private Bank – single view – for global clients has been its successful solution. Its international network is highly regarded in the industry. The bank has produced a succesful feedback loop with clients, and has also improved its mobile services.
Outstanding Customer Relationship and Service Management:
ABN Amro: Winner
The bank operates a well-defined, segmented approach, with strong customer understanding. Its client satisfaction score was more than 8, stating that clients are happy and investing. Other key points include connecting with clients for social causes, major international events and multiple initiatives. It offers a personalized approach through integrated and digital offerings. Its professional risk-profiling process is client-centred and focuses on achieving goals and successfully integrating clients and product profile.
BMO Harris Private Bank: Highly commended.
This respected bank is at the forefront of changing and adapting to regulation, allowing a smooth transition for clients. It is known for its strong monitoring system, and openness and transparency.
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By GlobalDataOutstanding Private bank Europe:
BNP Paribas: Winner
BNP Paribas has come up stronger than any other private bank in terms of overall performance, size and scale, processes, domestic and international market reach, past awards and recognitions, customer satisfaction, retention and growth. It has a very local focus, with a lot of freedom on local offices constructed from a central point of view. These offices have the flexibility to develop their own business models, meeting clients’ needs at a regional level.
SEB: Highly commended
SEB is well-respected in the industry for reporting, and is growing more rapidly than any other bank in Europe. It has extremely structured advisory capabilities, with a holistic approach.
Outstanding Private Banking – London – Domestic Clients:
Coutts : Winner
Coutts is undoubtedly the best for domestic clients in the UK. It has a well-respected heritage but stays abreast of current industry trends with a flexible approach to market needs.
Schroders Wealth Management: Highly Commended
The company has a strong and dedicated team of portfolio managers. It has well-defined risk tools and data models, and a good handle on UK financial services industry dynamics.
Outstanding Private Banking – London – International Clients:
Standard Chartered Private Bank: Winner
Its balance sheet, performance, growth, client spread and reputation at international level make Standard Chartered Private Bank the clear winner. The bank’s product delivery is strong, with less focus on the time-centred approach.
HSBC Private Bank: Highly Commended
The bank has a very strong international network, not only in developed countries but also within Islamic markets such as Turkey and
India. The bank’s segmentation methodology is also highly regarded in the industry.
Technology provider:
Avaloq: Winner
The technology provider has one of the strongest portfolio management systems, with a worldwide presence. The company has rich availability of functionality in the areas of CRM, reporting and portfolio management. Its Banking Suite significantly improves operational efficiency, levels and consistency of customer service, while also improving cost structure. Transparent fees are another feature of the technology provider.
Ortec Finance: Highly Commended
The company has a strong goal-orientated approach integrating income and wealth planning, and risk management. Its platform uses
high-quality projection methods using institutional scenario-generating techniques, and it has a holistic approach, including international taxes, currency risk and inflation risk.
