Private Banker International (PBI) has named the winners for the 2013 PBI Greater China Awards, held in conjunction with The Private Banker International Forum that took place on 4 June at The Grand Hyatt Hotel in Hong Kong.
In its third year, the PBI Greater China Awards mark – an important extension of the Private Banker International Global Wealth Awards – recognise excellence by banks and other wealth managers in various geographies.
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Nicholas 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," added Moody.
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By GlobalDataThe PBI Hong Kong Forum was attended by over 60 senior bankers and other industry experts.
Created to identify industry leaders and those individuals and organisations that are setting new standards in this exciting wealth management market, the PBI Greater China Awards are voted by the industry for the industry.
BNP Paribas Wealth Management won the Best Private Bank in Hong Kong (Foreign) award and Citi Private Bank won the Best Private Bank in China (Foreign) award.
HSBC Private Bank was named the Best Private Bank in Hong Kong while China Merchants Bank was awarded the Best Private Bank in China.
Moody said, "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."
Private Banker International Greater China Awards 2013 Winners & Finalists
Best Private Bank in China
Winner: China Merchants Bank
Finalists: Bank of China, HSBC Private Bank (Suisse) SA, ICBC
Best Private Bank in China (Foreign)
Winner: Citi Private Bank
Finalists: BNP Paribas Wealth Management, HSBC Private Bank (Suisse) SA
Best Private Bank in Hong Kong
Winner: HSBC Private Bank (Suisse) SA
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
Best Private Bank in Taiwan
Winner: Chinatrust Commercial Bank
Finalists: HSBC Private Bank (Suisse) SA, Taipei Fubon Bank, Taishin Bank
Best Private Bank in Taiwan (Foreign)
Winner: UBS AG
Finalists Citi Private Bank, HSBC Private Bank (Suisse) SA
Outstanding Private Banker (Greater China-North Asia)
Paulina Lee, Societe Generale Private Banking
Outstanding Young Private Bankers (Greater China-North Asia) – Recognising up-and-coming talent in the private banking industry
– Varun Minocha, Coutts
– Wenxin Zhang, China Merchants Bank
