Citi Private Bank is set to launch its new client/banker technology platform at the end of February, with the hope it will be the industry standard for digitalization.

After braving the exodus of retail and crossover investors, embattled bourses in emerging markets (EMs) have faced a new challenge in recent months: outflows from family offices. However, the prospects for EM debt allocations look relatively brighter this year, say analysts.

Change is afoot in the private-banking industry as UBS launches a ‘middle-way’ approach to charging clients fees for advice, Euromoney can reveal.

You'll find a new private banking channel on euromoney.com, comprising analysis of trends shaping the industry, interviews with heads of private banking at the largest global wealth management institutions, interviews with the top five CIOs at the private banks, and much more.

With OGX’s debt issued internationally, there was reportedly little impact from the company’s bond default and October 2013 collapse into bankruptcy on the fixed-income portfolios of Brazil’s private banking clients – fixed income being the largest asset allocation among the vast majority of Brazil’s rich.

In the past year the country’s private bank clients have been persuaded of the need to diversify into global investments – not as a panic measure in a time of crisis but as a regular aspect of their allocations.

Friedman joined UBS in March 2011, from his former role as CFO for the Bill and Melinda Gates Foundation.

Strobaek joined Credit Suisse in May 2013 from a Swiss family office, where he was the CEO, the CIO and a managing partner. Between 1996 and 2009 he was with UBS.

How can private banking CIOs cement their positions as key drivers of the wealth management business? And to what extent are they able to differentiate their strategies to clients? Euromoney attempts to shine some light on these challenges by asking the chief investment officers of five of the world’s biggest wealth managers for their views on how to beat the market in 2014 and beyond. Their responses suggest that differentiation will come at the margins, at best.

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.