Covid-19 may accelerate larger wealth managers’ global ambitions.

It seems a strange time to want to buy into Australian wealth management.

The German leader joins local private banks in starting to steer clients towards third-party deposits platforms as the sector tries to pass on negative rates.

The former UBS private banking chief leaves an impressive legacy across the wealth management industry.

Should spirituality be one of the lenses through which the wealthy manage their money? Faith-based investors certainly think so. Euromoney talks to funds and wealth advisers who believe that positive energy or religion-driven strategies can bring enhanced returns.

It has made waves with an IPO and by building a strong retail banking platform. Less well known is how the firm is gatecrashing the country’s thriving wealth management industry.

Lender lures China Merchants Bank’s head of private banking to oversee the Swiss bank’s onshore wealth management ops.

Local banks believe that reinventing wealth management will supply them with domestic growth in a dismal macro environment. But the challenge is that the bulk of assets are held by elderly people, who aren’t used to investment, aren’t used to paying for it and don’t care much about digital innovation.

Asian private wealth is distinct from elsewhere in the world and must be served with a different model. Entrepreneurial wealth, changing digital delivery channels and gradual engagement with socially responsible investment all present challenges and opportunities for private banks in the region.

Few banks have navigated turbulent times so well, posting record revenues on the back of strong net inflows and rising markets.

JPMorgan Private Bank clients enjoy the best of both worlds: an intimate relationship with a US lender that is allied to the power of a genuinely global financial leader. It is led by Mary Callahan Erdoes.

In the US, JPMorgan has 55 dedicated private banking offices, from Austin to Seattle, and Cincinnati to Fort Lauderdale. Elsewhere, it focuses heavily on serving high and ultra-high net-worth customers in Europe, where it has eight offices, including the UK and Germany, Asia, through Hong Kong and Singapore, and Latin America, with clients served out of Miami, New York and Switzerland.

JPMorgan Private Bank wins this year’s top award, as well as being named the world’s best private bank for ultra-high-net-worth individuals 2023, and the world’s best private bank for investment research 2023.

The global wealth expert has expanded its vision, horizon and profits this year

The great financial innovator shone again in global wealth management.