Western Europe
LATEST ARTICLES
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After 12 years of near continuous restructuring and capital raising at Credit Suisse, the longest-serving chief financial officer of any G-Sib bank offers a few parting lessons. -
Euromoney meets Damian Payiatakis, Barclays Private Bank’s head of sustainable and impact investing, to talk about how quiet private wealth has been so far at the UN Climate Change Conference.
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NatWest digital SME bank Mettle has broken new ground in its partnership with Polish fintech firm Vodeno.
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HSBC’s outgoing CFO, Ewen Stevenson, has mounted a robust case for the bank’s cost performance in an intriguing call with analysts that also featured an appearance by his replacement, Georges Elhedery. As he prepares to leave the bank, Stevenson defended his legacy by taking on the firm’s arch-critic, Ping An.
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The German bank’s strong third-quarter earnings are a partial result of forming a new international private bank division two years ago, honing it and continuing to invest in the strategy.
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Market experts fear that continued inflation and poor growth mean that many currencies are vulnerable to the pressure that the UK has seen recently.
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European banks have raced far ahead of their US peers on sustainability. But the continent is now facing an energy emergency, creating pressure from some corners to reverse investment declines in oil and gas. Can Europe’s banks remain frontrunners in sustainable finance in today’s fragile geopolitical environment?
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The biggest IPO in Europe for a decade has not generated the kind of excitement that might have been expected in calmer times. Porsche’s flotation was solid enough, but its structure and unusual nature make it a poor proxy for the broader equity capital markets business, which is on its knees.
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Bankers are sending mixed messages about market strains. Dire warnings about year-end pressures, pleas for regulatory help and assurances that banks can sort this out are being deployed simultaneously.
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The UK’s humiliation after bond investors rejected its mini-budget and sparked a liquidity crisis threatening the country’s pension funds holds two lessons for the rest of the global financial system. First, more markets will break down thanks to rising rates. Second, the battle everywhere between central banks fighting inflation and governments seeking to sustain economies and manage the cost of vast stocks of public debt will define finance for years to come.
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Growthfund was formed six years ago as a steward for Greek state-owned enterprises in the hope of improving and extracting value from them. As chief executive Gregory Dimitriadis explains, its ambitions now include investment, emission reduction and enabling the flow of capital from the Middle East.
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The weakness of the pound and strength of the dollar has implications for companies on both sides of the Atlantic.
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Boutique investment bank DAI Magister suggests donor funds could catalyse private equity and debt investment in climate tech, the big theme of COP27.
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UK pension fund hedges have failed the first real stress test in a new era of rising interest rates. Bankers are surprisingly relaxed about the implications for other threats to global systemic stability.
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In public at least, the Bank of England has been determined to end its gilts intervention when it said it would, but it’s getting harder for the BoE to manage its conflicts – and the market doesn’t know what to believe any more.
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Regulators want to prevent greenwashing; corporates need to abide by the rules. What happens when science doesn’t help?
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With domestic retail borrowers under rising pressure, does political risk matter more than strong profitability and capital buffers at UK banks?
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While the UK government remains unwilling to make notable concessions on its economic policies, the Bank of England will struggle to restore confidence in the embattled pound.
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Societe Generale has exited, and Citi is winding down in retail, but the two biggest remaining Western European players in Russia are also spending a lot of time working out their exposures and operations in the country.
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The French bank has continued its string of direct investments in fintechs this year and is looking for more with VC fund Anthemis.
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Societe Generale’s choice of Slawomir Krupa to succeed Frédéric Oudéa suggests an approach of riding out the storm and continuing elements of Oudéa’s recent strategy, rather than any radical change.
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A new job running Bayern Munich's finances could be more rewarding for HVB CEO Michael Diederich, especially after UniCredit CEO Andrea Orcel’s push for more cuts in Germany.
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Clearing up after the government’s mess will only provide a short break in the repricing of UK risk.
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The things that attracted Lone Star to Bank of Cyprus are present in banks in Greece and elsewhere in peripheral Europe. If other private equity-like investors take an interest, domestic political blessing could be the key to success.
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Not long ago, correspondent banking was as basic as finance got. These days it is compliance and cost-heavy and in the crosshairs of aggressive and powerful regulators. Little wonder that so many banks are exiting small or fragile markets – actions that help their bottom line but hinder efforts at financial inclusion.
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Fossil fuel assets were set to become obsolete in the transition to net zero. But the war in Ukraine is forcing European governments to secure alternative energy sources and driving demand for coal, oil and gas back in the wrong direction. With the global energy transition seemingly pitched against national energy security agendas, banks are trying to navigate a difficult path through the turmoil.
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Issuing bank debt used to be easy. But with many banks now crowding through the same narrow issuance windows, even high-quality issuers have barely covered the books on some deals. And as non-performing loans look set to rise, investors are worrying that the boon from higher rates won’t last.
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With far-right leader Giorgia Meloni now set to become Italy’s new prime minister, can policies put in place by her predecessor – coupled with reputational self-help – prevent Italian banks from taking another hit?
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Kwasi Kwarteng’s debt-funded tax giveaway has re-priced UK risk at a stroke, but the high cost may bring scarce benefit.
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The recent multi-decade lows experienced by the pound and the yen may have different origins, but they are also a reminder that history has a habit of repeating itself.
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Switzerland and Europe continue to drive much of UBS’s global-leading franchise for family office services, cementing its status as a natural choice of financial provider for family offices around the world, and notably in Europe. It is a worthy winner of the award for Western Europe’s best for family office services.
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BPI Private has demonstrated strong momentum, registering a 9% increase in assets under management to €9.5 billion ($10.3 billion). To support this growing portfolio, the bank’s headcount rose 13%, from 110 to 124 professionals, with an ambition to reach 140 by the end of the first quarter of 2025. This strategic recruitment drive has fortified both frontline and support functions, reflecting the firm’s commitment to delivering a comprehensive client experience.
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Alpha Bank stands out for its impressive financial performance and innovative digital services. In the first half of 2024, Alpha Bank posted 43% year-on-year growth in client assets under management. In line with this, its market share in private banking hit a record high, capturing 33% of mutual fund inflows and securing new mandates from institutional clients.
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Goldman Sachs’ wealth management business inevitably centres on the US – because of the size of that market, and because that is where the firm was born and is headquartered. Proportionally, however, it is growing faster internationally. That is especially apparent is Western Europe, where it is the region’s best international private bank.
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One of the hallmarks of BNP Paribas Wealth Management’s strategy and success in wealth management is how it not only deploys strong capabilities specific to private banking, like discretionary portfolio management, but also the wider capabilities of the group. Corporate and institutional banking, markets, asset management, real estate, private equity: these are all group strengths at BNP Paribas, and highly relevant for its wealth management business.
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Julius Baer’s global leadership in discretionary portfolio management (DPM) is centred on its base in Western Europe, where it wins this year’s best discretionary portfolio management award.
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LGT Private Banking is a worthy choice for Western Europe’s best pure-play/boutique private bank for numerous reasons. Since 2011, LGT has quadrupled its assets under management, reaching SFr356 billion ($405 billion) by mid-2024. This growth was driven by strong organic net asset inflows and strategic acquisitions.
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Novum Capital Partners has swiftly emerged as a dynamic player in the Swiss wealth management sector, distinguished by specialised service and a sophisticated approach tailored to ultra-high-net-worth (UHNW) families.
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LGT Private Banking’s flagship offering is the Princely Strategy, which allocates 56% of its investments strategically into alternatives, reflecting a robust commitment to this asset class.
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Standard Chartered's private banking business in the UK has seen notable growth and strategic developments over the past year.
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JPMorgan Private Bank continues to lead the industry in digital innovation, providing its private banking clients with seamless, personalised and secure financial services. Through its pioneering technology, the firm is redefining wealth management by offering clients access to powerful digital tools, ensuring they stay ahead in an ever-evolving financial landscape.
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UBS delivered outstanding financial performance and client satisfaction over the review period, driven by successful integration efforts, distinctive ultra-high-net-worth (UHNW) offerings, and an ability to engage next-generation clients.
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During the review period, ABN AMRO launched a series of events and products, as well as completing a strategic acquisition, resulting in significant growth in both its client base and net new assets.
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CaixaBank continues to lead by example, combining innovative digital solutions with a strong focus on sustainability and a client-centric approach to manage and grow wealth responsibly.
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Succession planning is a strong focus and a global practice at Lombard Odier but it’s rooted in Europe, and this year it is Western Europe’s best for succession planning. The wealth-planning team comprises a group of 60 experts worldwide, a large portion of them based in Western Europe – which reflects Lombard Odier’s group headquarters in Switzerland. The goal is to nurture the firm’s capacity to deliver specialised and comprehensive services for its clients.
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BNP Paribas Wealth Management delivers a comprehensive and global range of financial solutions, serving as a one-stop-shop for all aspects of wealth management.
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BNP Paribas Banque Privée's strategic enhancements in digitalisation, client engagement and sustainability have not only increased its market share but also strengthened its leadership in the private banking sector.
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CaixaBank continues to lead by example, combining innovative digital solutions with a strong focus on sustainability and a client-centric approach to manage and grow wealth responsibly.
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Deutsche Bank Private Bank’s strategic initiatives in Italy have not only enhanced its financial performance but also solidified its reputation as a leader in integrating sustainability and comprehensive wealth management solutions.
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Quintet Private Bank delivered a strong financial performance in 2023, showing resilience amid market volatility and inflationary pressures, while strategically expanding its investment offerings and geographic presence.
