UBS continues to gain plaudits from Asia’s wealthiest individuals for the quality and professionalism of its wealth management advice, according to the results of Asiamoney sixth annual and largest ever Private Banking Poll.
The questionnaire was distributed to high-net-worth individuals who have funds under management with private banks in Asia-Pacific. The response rate was very strong, with the poll’s final results being based off of 2,287 valid votes.
The poll breaks the responses down according to the size of clients’ assets under management (AUM) with private banks in Asia-Pacific. Across both small, medium and large-sized asset categories UBS was deemed to be the best private bank, a testament to its continuing strength and depth of service in the region.
| AUM with private banks |
Winning bank |
| US$1-5 million |
UBS Wealth Management |
| US$5.01-25 million |
UBS Wealth Management |
| >US$25 million |
UBS Wealth Management |
The bank also did very well from a geographic perspective. It dominated the three respective wealth categories in Hong Kong, Singapore and Taiwan, while Deutsche Bank Private Wealth Management similarly won each category in India.
BNP Paribas took two of the three wealth categories in China, a result that will no doubt delight the French bank. Meanwhile Citi registered in several countries including South Korea, where it was also voted the best private bank by wealthy individuals in two categories.
Malaysia is the only country to boast a domestic private bank – Maybank Private Banking – as the overall winner. It swept the board in its domestic country.
| Winning banks, by country |
|||
| (AUM with private banks) |
US$1-5 million |
US$5.01-25 million |
>US$25 million |
| China |
BNP Paribas Private Bank |
BNP Paribas Private Bank |
Citi Private Bank |
| Hong Kong |
UBS Wealth Management |
UBS Wealth Management |
UBS Wealth Management |
| India |
Deutsche Bank Private Wealth Management |
Deutsche Bank Private Wealth Management |
Deutsche Bank Private Wealth Management |
| Korea |
Citi Private Bank |
Citi Private Bank |
N/A |
| Malaysia |
Maybank Private Banking |
Maybank Private Banking |
N/A |
| Singapore |
UBS Wealth Management |
UBS Wealth Management |
Credit Suisse |
| Taiwan |
UBS Wealth Management |
UBS Wealth Management |
N/A |
| Other countries in Asia |
UBS Wealth Management |
Citi Private Bank |
Citi Private Bank |
An in-depth article on this year’s Private Banking Poll featuring interviews with the main regional winners will be published in the June edition of Asiamoney magazine, while full results and rankings will be featured in the June issue of Wealth Management, an Asiamoney publication. Extended rankings will also be available online at www.asiamoney.com.
To obtain a copy of the results, Asiamoney’s June edition or the Wealth Management magazine, please contact Henry Wong, subscriptions manager, on (852) 2842 6998 or henry.wong@asiamoney.com. For further information regarding the poll, please contact Bernice Lam, Asiamoney polls editor, on (852) 2912 8077 or bernice.lam@asiamoney.com.