A European sovereign debt crisis, looming bank regulation, volatile markets – 2011 was a challenging year for those managing money for the world’s wealthiest individuals. The heads of nine of the largest global private banks discuss how they are navigating the turbulence and what they expect of 2012.

Private banks are looking to help clients move away from the greed-is-good mentality.

Despite emerging markets being heralded as the beacon for growth, CEOs and global heads of private banking at the world’s largest firms tell Euromoney they are still expanding and seeking growth in the US and other developed markets

UBS to pare down investment banking and concentrate on wealth management.

Swiss investment bank axes hundreds more jobs in investment banking to concentrate on the less risky private banking business

Belgium is seen as one of the bright spots in the eurozone and competition is increasing for the assets of the country’s wealthiest individuals. For those with investment expertise and knowledge of the intricacies of the Belgian wealth market, the future looks promising.

The sector is enjoying substantial growth in assets, but converting this into profitability is a challenge, partly because of clients’ preference for low-fee, fixed-income products. And high interest rates are holding back growth in equity markets.

Both local and international players are trying to break into a growing onshore private banking market in the Middle East. In the second part of Euromoney’s roundtable on this market, participants discuss how they are managing to attract and retain relationship managers, how they intend to grow their businesses, and how best to advise clients on risk.

Local and international players are trying to break into the growing onshore Middle East private banking market. But dealing with the world’s wealthiest families poses big challenges. In the first part of Euromoney’s Middle East roundtable on private banking, participants discuss their individual models, and how the financial crisis has affected their clients.

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.