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For this survey, private banking is defined as banking services targeted at wealthy clients (those with investable assets of $1mln+). The most obvious respondents would be customers, but given their desire for secrecy and the issues of finding a representative sample this is problematic. We have therefore asked the private banks and wealth managers themselves to identify the firms that they consider to be their top competitors – it is therefore a peer review.
Participating private banks and wealth managers were sent an online questionnaire by email, or were able to access the questionnaire directly from the homepage at www.euromoney.com. The survey results are based on the scores from peer nominations received and voter participation points. There was also a market feedback section at the end of the survey which was of editorial interest only and not scored for the rankings.
We were interested in the views of senior private banking and wealth management staff with a perspective on the relative merits and demerits of their own firm, as well as its competitors. We asked the voters to identify the country about which they had the most knowledge. They then nominated their top three peers in that country in each category. We awarded four, three and two points, respectively to each of those nominations in that category and country. We also awarded a small number of participation points to the respondent's own firm in all relevant categories where they nominated their peers. No self-nominations or parent/subsidiary company nominations were allowed. The global and regional results are weighted aggregates of the country results.
The survey was conducted from August 25th until November 5th, 2015. We received 2616 valid responses, an increase of 10.1% on the 2377 responses received last year.
For more information about the survey please contact Kalin Trifonov at ktrifonov@euromoney.com