Private Banker International’s Germany Awards were announced on Tuesday at a ceremony in Frankfurt.
The awards followed PBI’s Germany conference, which identified the major trends affecting the future of private banking in Germany.
These awards are an extension of the well established Private Banker International Global Awards that took place in Singapore last year.
These awards are designed to identify leading institutions that are setting new standards in private banking and wealth management in Germany.
The shortlist of finalists underwent a rigorous selection process and our independent judging panel chose the awards winners.
Private Banker International Germany Awards:
Outstanding Private Bank – Germany – International Players
BNP Paribas Wealth Management
Already the largest bank in the Eurozone, last year BNP Paribas announced a hiring spree that would see it add 120 new employees to its Germany business by 2020. Among these hires was the appointment of Michael Arends as CEO of BNP Paribas Wealth Management in Germany.
BNP Paribas Germany CEO Lutz Diederichs said: “The development of our wealth management business is an integral part of the German growth plan which aims for an 8% per year increase in Germany, so as to reach €2 billion in revenues by 2020.”
Outstanding Private Bank – Germany – Domestic Players
Picking up this award for the second year running, Berenberg has provided a steadfast commitment to its private clients in Germany. Last year the bank divested its majority shareholding of its Swiss subsidiary, Berenberg Bank (Schweiz) in order to focus more on its home market.
Outstanding Family Office Proposition in Germany
Already EMEA’s largest independent multi-family office, Stonehage Fleming has made several inroads into the German market in the past year. Since April 2018, the London headquartered firm has developed relationships with several prominent German families.
With a team dedicated to the German market (launched in 2017 and run by Andreas Pankow), the judges expect Stonehage Fleming to further expand its family office proposition in Germany.
Outstanding Front-End Digital Solutions Provider
Front-end digital solutions have to be broad enough to encompass all client types, both the risk-averse and risk-prone. The judges were therefore impressed with SwissQuant’s ‘Goal Based Wealth Management’ software, which focuses on client goals before modelling and stress testing them to determine best outcomes.
Excellence in Customer Experience (Technology Provider)
In an era when customer experience is changing banks’ entire business models, the judges were impressed by Unblu’s offering, which allows its customers to quickly rollout popular services such as secure messaging, voice and video, live chat, co-browsing and document sharing.
Outstanding Wealth Management Technology Provider
Avaloq has had a successful 12 months, signing up a number of prominent private banks and wealth managers in Germany. In addition, 2018 saw Avaloq roll out features using microservice technology and artificial intelligence to further optimise performance.