During a Wealth Management Summit being held this week in Boston, Singapore and Geneva, private banking executives provided some investment tips.
Jennifer Tay, Citi Private Bank, Asia-Pacific Head of Portfolio Counselling
“We tell clients, markets are not going to stay down forever. There will come a time when you have very decent recovery and typically even when you look at the (past) since the 1950s, you had nine recessions and after a recession markets just spike upwards.
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Private banking and wealth management rankings
According to Euromoney’s annual Private banking and wealth management ranking 2013, which consider (amongst other factors) assets under management, net income and net new assets, global private banking assets under management grew just 10.8%YoY (compared with 16.7% ten years ago).
“Best private banking services overall 2013”. This table displays results of one category of the Private banking and wealth management ranking.
| Rank 2013 | Company | Rank 2012 |
|---|---|---|
| 1 | UBS | 2 |
| 2 | Credit Suisse | 1 |
| 3 | JPMorgan | 4 |
| 4 | HSBC | 3 |
| 5 | Citi | 5 |
| 6 | Deutsche Bank | 6 |
| 7 | Merrill Lynch Wealth Management | 9 |
| 8 | Santander | 8 |
| 9 | BNP Paribas | 7 |
| 10 | Goldman Sachs | 11 |
UBS took the top spot in Euromoney’s 2013 survey for “Best private banking services overall 2013.”
World Wealth Report 2013
The 2013 World Wealth Report, released in June 2013, showed that despite the turbulence of the global economy, particularly in the Eurozone, both the population and wealth of global HNWIs reached significant new highs in 2012. Even though the year got off to a shaky start, HNWIs ultimately benefitted from strong market returns in spite of sluggish global GDP growth. The report was widely welcomed as good news for the private wealth management sector.
The 2013 edition of the World Wealth Report also included the inaugural Capgemini, RBC Wealth Management and Scorpio Partnership Global HNW Insights Survey. The survey represents one of the largest and most in-depth surveys of high-net-worth individuals ever conducted, surveying more than 4,400 HNWIs across 21 major wealth markets.
This survey-driven section of the report aimed to provide perspectives from the world’s wealthy. Key findings included:
- In Q1, 2013, around 61% of HNWIs said they have trust and confidence in their wealth managers and firms, an increase of roughly four and three percentage points respectively, from 2012.
- 75.4% of HNWIs around the globe cited confidence in their ability to generate wealth over the next year.
- 52.6% of HNWIs gave their advisors and support staff a strong performance rating for service.
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