Fifth annual World’s Best Private Banks Awards for 2020 announced its winners.
Global Finance Named The World’s Best Private Banks 2020.
The winners are those banks that best serve the specialized needs of high-net-worth individuals as they seek to enhance, preserve and pass on their wealth. The winners are not always the biggest institutions, but rather the best— those with qualities that individuals rate highly when choosing a provider.
Global Finance’s editorial board selected the winners for the Private Bank Awards with input from executives and industry insiders. The editors also use information from entries submitted by banks, in addition to independent research, to evaluate a series of objective and subjective factors. This year’s ratings were based on performance during the period covering July 1, 2018 through June 30, 2019.
J.P. Morgan Private Bank was named Best Private Bank in the World, and LGT Bank earned Best Boutique Private Bank in the World Award. The title of Most Innovative Private Bank in the World was won by DBS Private Banking.
“As the ranks of the world’s wealthy have grown, they have become more diverse — in their origins, their attitudes, and their expectations. Winners of the Global Finance private bank awards have shown agility and sophistication in adapting to the new realities of wealth management. They are able to maintain focus on long-term stability,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
Global Finance’s World’s Best Private Banks 2020:
- Best Private Bank in the World: J.P. Morgan Private Bank;
- Best Boutique Private Bank in the World LGT Bank
- Most Innovative Private Bank in the World DBS Private Banking;
- Best Private Bank for Social Responsibility: J. Safra Sarasin;
- Best Private Bank for Philanthropic Services: Coutts;
- Best Private Bank for Intergenerational Wealth Management: Julius Baer;
- Best Private Bank for Digital Client Solutions: DBS Private Banking;
- Best Private Bank for Islamic Service: Ahli United Bank Kuwait;
- Best Private Bank for Business Owners: UBS;
- Best Private Bank for Millennials Standard Chartered;
- Best Private Bank for Family Office Services: Northern Trust;
- Best Private Bank Use of Technology: RBC;
- Best Technology Solution for Private Banks: KEB Hana;
- Best Private Bank for Entrepreneurs: BMO Private Bank;
- Best Private Bank in Emerging Markets: DBS Private Banking;
- Best Private Bank for New Customer Segments: Kotak Wealth Management;
- Best Private Bank for Net Worth Under $1 Million: Santander;
- Best Private Bank for Net Worth Between $1 million and $24.9 Million: UBP;
- Best Private Bank for Net Worth of $25 Million or more: Citi Private Bank.
A full report on the selections will appear in the December issue of Global Finance, and winners will be honored at an Awards Dinner in New York City in March.