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.

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.

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.

Once a global wealth management (WM) powerhouse, DBWM no longer sits in the top 10 when it comes to AuM or stature.

Iqbal Khan replaces Martin Blessing as UBS co-CEO of Global WM; costs still plague both firms.

Private banks across the world are changing fast, placing greater emphasis than ever on a host of key factors. The best wealth managers are busy boosting inclusivity, emphasising technology and security, and ensuring they are on-point when it comes to meeting compliance needs.

Wealthy clients increasingly need international products and services. The opportunities are clear for those who can stomach the regulatory hurdles of cross-border business and who can leverage their retail or investment banking connections. Technology investments are crucial, but the competitive landscape is opening up.

The Swiss bank stands apart from its peers. It helped its clients profit, both in the serene waters of 2019 and in the wake left by Covid-19 as it spread across the world in 2020

“I think this crisis has shown why being with a firm focused on wealth management as a primary business and having a global perspective matters to clients,” says Tom Naratil, co-chief executive of UBS global wealth management (GWM) and president of UBS Americas.

Our review period was a difficult one for private banking operations in the region, as it was worldwide: the fourth quarter wiped out huge chunks of revenues and assets for some international and local players, and it was a year that required sound individual advice for clients.

For the second year running Credit Suisse is Latin America’s best bank for wealth management, this year bolstered by the completion of a three-year turnaround across the whole bank.

Household net financial wealth in CEE has roughly doubled since 2006 and private banking and wealth management services are increasingly in demand across the region.

With a new strategy of regionalization, integration and innovation, Credit Suisse’s wealth management business has set itself apart from its peers and brought the ethos of Swiss personalized service to an international platform.