Western Europe's best bank for wealth management 2020: UBS

After much restructuring in 2019 that saw the de-layering of management, regionalization of Europe, Middle East and Africa (EMEA), and streamlining of client segments, it wasn’t clear what the beginning of 2020 might look like for UBS in Western Europe. 

But high volumes of net new assets in the first quarter, double-digit growth in profit before tax and adviser productivity across EMEA show that the closer proximity to clients was paying off. 

“We’re slimmer and decisions can be made faster,” says Christl Novakovic, chief executive of UBS Europe SE and head of wealth management Europe at UBS. This year UBS wins the award for best bank for wealth management in Western Europe.

The bank’s response to the Covid-19 pandemic shows why it is such a trusted adviser. During the most difficult period UBS de-risked portfolios and used its investment bank to ensure that essential transactions – such as the sale of a family business – stayed on course. 

The UBS chief investment office held hundreds of video conferences for clients and published daily market research on the evolving crisis.