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In a year marked by geopolitical shifts and market volatility, HSBC’s investment research team carved a niche by transforming complexity into actionable clarity. Guided by a framework that prioritises long-term structural trends over short-term noise, the bank’s 2024 research strategy centred on five core themes: disruptive technologies, climate action, the evolving society, Asia’s new world order, and tactical opportunities tied to earnings growth and rate cuts. This approach not only navigated uncertainty but delivered measurable outperformance for clients.

UOB Private Bank’s discretionary portfolio management (DPM) team has grown sharply since its inception in 2016. The team now comprises 14 members, including eight portfolio managers, overseeing more than S$4 billion ($3 billion) in assets across various mandates.

For over 25 years, UBS has redefined the role of wealth in addressing global challenges, transforming philanthropic aspirations into measurable impact. In Asia, where economic growth intersects with pressing social and environmental needs, the firm’s philanthropic advisory services have emerged as a bridge between private capital and systemic solutions.

Techcombank has seen strong financial growth and made significant enhancements to its services over the review period, earning the award for Vietnam’s best private bank.

SQB has emerged as a leader in private banking by continuously developing its services to meet the needs of private banking clients. By introducing alternative asset classes such as private equity and sustainable investments, SQB provides clients with diversified investment opportunities that enhance returns while mitigating risks.

DBS has been named Asia’s best for high-net-worth (HNW) individuals, a testament to its mastery in guiding clients from mass-affluent beginnings to ultra-high-net-worth (UHNW) highs. Judges lauded its “conscious client transition strategy” and “industry-leading retention”, cementing DBS as the architect of Asia’s wealth story.

CTBC Bank delivered strong financial performance across private banking during the awards period. Its Private Privilege service, targeting ultra-high net-worth clients, saw assets under management grow 22%, with revenues up 35%, while the Private Plus segment, targeting high net-worth clients, saw revenues rise 41%. Wealth management fees surged 49%, while fee-based assets under management in investment platform services increased by 26%.

In Asia’s rapidly evolving wealth management landscape, UBS has distinguished itself through a blend of investment acumen, philanthropic innovation and tailored client solutions. Drawing on its global expertise and regional agility, the bank’s 2024 achievements reflect a commitment to adaptability and client-centric growth, positioning it as a leader in Asia’s private banking sector.

BNP Paribas Wealth Management demonstrated a steadfast commitment to innovation and client-centric digital transformation during the review period, as it continues to anticipate clients’ evolving needs. The bank embraced disruptive technologies and future-proofing solutions with the aim of providing personalised, high-tech and high-touch services that deliver exceptional value to private banking clients.

HSBC strengthened its fund selection capabilities in 2024, blending institutional rigour with digital innovation to deliver strategies that weathered market storms. Anchored by a philosophy of global diversification and disciplined risk management, the team’s open-architecture platform – offering access to over 300 active funds and 500 exchange-traded funds, vetted by a 40-member global manager selection team across Hong Kong and India – ensured clients capitalised on best-in-class active and passive managers worldwide.

In 2024, Noah Holdings achieved steady growth and multiple breakthroughs, leveraging its professional asset management capabilities, global presence and innovative service model to further consolidate its leading position in the wealth management industry.

Maybank Private continues to redefine private banking in Malaysia through cutting-edge product innovation, strategic partnerships and a client-centric approach. The institution has solidified its position as a leader in wealth management, offering bespoke solutions tailored to sophisticated investors.