Unveiling the Best in Private Banking

Global Winners

J.P. Morgan US Private Bank has once again proven its mettle by adapting to shifting macroeconomic conditions. With a remarkable 24% increase in client assets and a significant boost in revenues and pretax income, it continues to set benchmarks. The integration of advanced AI tools like JPMorgan Chase’s Connect Coach and the Chase Connect mobile app has enhanced its product offerings, while also attracting over 300 expert advisers and 5,400 new clients. This showcases its ability to combine technological innovation with human expertise.

HSBC Global Private Banking stands out for its extensive network, rich experience, and solid reputation in providing access to private equity. Through its annual Vision Private Equity discretionary program, it offers diverse investment opportunities to ultra-high net worth clients. The latest program closed with $403.2 million in client commitments, and since its inception, it has raised over $1.9 billion. This highlights its commitment to meeting the unique needs of private bank clients.

Best for Specific Client Segments

Best Private Bank For Women Clients

Bank of New Zealand (BNZ) wins this award not only for its gender equality efforts but also for its long-term focus on empowering women. With a 100% female leadership team and a 60% female workforce, it offers tailored services and an unparalleled range of investment solutions. WealthNet, its investment portal, enhances financial literacy and engagement. Initiatives like the Ivy Waters Memorial Scholarships and Quietly Powerful program demonstrate its dedication to supporting women at every stage of their lives.

Standard Bank is making significant strides in Africa by addressing the challenge of preserving generational wealth. With a focus on financial literacy, it has launched initiatives like NextGen Thought Leadership to equip people with basic financial skills. By investing in education, the bank is bridging intergenerational wealth disparities and promoting upward mobility.

Best Private Bank Digital Solutions For Clients

BNP Paribas is no stranger to innovation, and its digital app enhancements have been a game-changer. The launch of “MyGuide” has improved onboarding and client engagement, while integrating the app with major social platforms offers convenient account management. This has helped the bank double its share of entrepreneurial clients under 40 and aims for further growth in this segment.

DBS Private Bank is a pioneer in AI and machine learning, integrating these technologies into its “phygital” business model. By using behavioral impulses and data-driven prompts, it has enhanced client relationships and sent over 7.2 million “next-best nudges” to 22,600 clients, resulting in a 50% engagement rate.

Most Innovative Private Banks

Hana Bank has been at the forefront of innovation, introducing the Hana Real Estate All-Care Solution and AI Wealth. The former uses AI-based proprietary technology for real estate advisory, while the latter utilizes data analysis for asset allocation and market trend prediction. These initiatives have attracted $279 million in new investment funds and showcase the bank’s forward-thinking approach.

Santander Private Banking has shown significant momentum in social responsibility. It launched initiatives in Latin America to provide education and resources, expanded its ESG-related investment products, and began reporting environmental and social metrics. This commitment to a more equal and sustainable future sets it apart.

Best in Specific Services

Best Private Bank For Social Responsibility

Santander Private Banking’s long-term commitment to social responsibility is evident in its various initiatives. From providing education and resources in underserved communities to expanding ESG investment products, it is leading the way in sustainable investing. Reporting environmental and social metrics enhances transparency and insight for clients.

Bank of America Private Bank shines in philanthropic services. With over $24.4 billion in philanthropic assets and a specialized advisory team, it educates and guides wealthy donors. Its digital grant-technology platform has enhanced grantmaking operations for foundation clients.

Best Private Bank For Family Office Services

Bank of America Private Bank’s innovative infrastructure combines decades of wealth management excellence with a global presence. Its proprietary CashPro For Family Office streamlines complex processes, and the Family Offices division promotes exclusive events and forums for like-minded families. This shows its ability to meet the sophisticated needs of family office clients.

Best Private Bank For Entrepreneurs

Fifth Third Private Bank caters specifically to entrepreneurs with personalized investment strategies and trust services. Its Business Transition Advisory team played a crucial role in revenue growth, and enhanced digital tools provide flexible solutions. This demonstrates its understanding of local market dynamics and the needs of entrepreneurs.

Best Private Bank In Emerging Markets

Santander Private Bank in Latin America combines local knowledge with a global platform. New digital channels make onboarding easier for clients, and it has expanded its team in key locations. With a goal of reaching €500 billion in assets under management by 2025, it is well-positioned for growth in emerging markets.

Best Private Bank For New Customer Segments

PNC Private Bank is focused on attracting millennials and the affluent in emerging markets. Its new digital finance tools appeal to tech-savvy clients, and the Hawthorn Institute for Family Success addresses the unique needs of younger clients. Specialized offerings for startup founders and business succession planning further expand its customer base.

Best Private Bank For Intergenerational Wealth Management

BTG Pactual Wealth Management’s Future Leaders program goes beyond traditional wealth management. It prepares the next generation of investors to manage wealth and navigate intergenerational wealth intricacies. By providing comprehensive knowledge and a transformative experience, it is shaping the future of intergenerational wealth management.

Best Private Bank For Net Worth Under $1 Million

Bradesco Global Private Bank offers a personalized approach to clients with net worth under $1 million. With a strong team of specialists and a focus on satisfaction and financial success, it has achieved significant growth in assets under management, representing a 150% increase since 2017.

Best Private Bank For Net Worth Between $1 Million And $24.9 Million

CTBC’s Private Privilege segment has seen remarkable growth. With a 28% increase in AUM and a 74% revenue surge, clients have benefited from stringent investment advice and a growing product suite. The deployment of structured notes has captured returns in overseas equity markets.

Best Private Bank For Net Worth Of $25 Million Or More

Citi Private Bank serves an astonishing 30% of the world’s billionaires and continues to lead among ultra-high net worth clients. With tailored investment solutions and the Next Gen program, it attracts new generations of wealthy clients and provides them with networking and educational opportunities.