6. Private banking and service offered by best banks

Brand Valuation:

Some of the banks offer integrated solutions to meet their customers financial and business needs under one roof. Few of the bank claims to be the best among private bank with strong advisory team and past data reveals their product and brand valuation.

In recent years, private banks are able to provide their personal finance and relationship management services internationally thru the medium of internet and mobile banking. Modern research says that numbers of high net worth individuals are sinking in developed countries like Europe whereas number of billionaires and millionaires are growing at the faster rate in Asia. Technology of online banking has ensured banking services to customers without exclusive branches. Due to technology this shift of money flow between countries is no more barriers to banks that have gain a good brand valuation in private banking sector.

Private banks have to put great efforts for lead generation via wholesale banking or tie ups with corporate or retail banking or other revenue sharing module for attracting new customers. Whereas good branded private banks doesn’t have to rely heavily on banking networks. They are mostly relied on client referrals. A referral to friends or family members are the primary source of lead generation for branded banks since they provide exclusive services and support to retain their client confidence.

6. Private banking and service offered by best banks

The Largest Bank in the world known as Private Wealth Management Bank:

Here we will present list of top Private Bank (or private banking divisions/subsidiaries of large bank holding companies) in terms of AUM (Assets under management), as of start-2015 are:

RankBankCountryAUM (in US$ billion)
1Union Biblical Seminary (UBS)^SwitzerlandApprox. $2,035
2Morgan Stanley^USAApprox. $2,025
3Bank of America*USAApprox. $1,984
4Credit Suisse^SwitzerlandApprox. $883
5Royal Bank of Canada (RBC)^CanadaApprox. $704
6Citibank^USAApprox. $550
7JP Morgan & Co.*USAApprox. $428
8BNP Paribas^FranceApprox. $370
9HSBC Bank^UKApprox. $365
10Goldman Sachs Group, Inc.^USAApprox. $363
11BMO^CanadaApprox. $326
12Deutsche*GermanyApprox. $292
13Julius Baer Group^SwitzerlandApprox. $289
14ABN AMRO^NetherlandsApprox. $231
15Wells Fargo^USAApprox. $225
16Northern Trust^USAApprox. $224
17Santander^SpainApprox. $218
18Bank J. Safra Sarasin^SwitzerlandApprox. $213
19BNY Mellon*USAApprox. $191
20Crédit Agricole^FranceApprox. $171

^  = Private Bank and Wealth Management

* = Global Wealth, Asset and Investment Management

6. Private banking and service offered by best banks

Private Banking Definition:

Private banking is the bank that provides customised financial solutions to high net worth individuals or those who belong to higher income class. Private Banks aims to provide best investment and wealth management products for those high net worth individuals who can invest large amount of money. Services provided by private banks includes protecting assets, investing into assets, retirement planning, customised financial solutions, safeguarding wealth for next generation, etc.

Private Banks provide specialized and dedicated relationship manager for an individual who are willing to invest amount between Rs.32,50,000/- (around $50,000) to Rs.3,25,00,000 (around $5,00,000) whereas some of the largest private bank only provides dedicate financial services for an individual who’s investment size is more than Rs.3,25,00,000 (around $5,00,000). Private Banks plays an important role in wealth management for affluent class of individuals.