With the world as their oyster but more competition from other oyster hunters, private banks are focusing products and services in an effort to grow without sacrificing profits.
Banks like to be all things to all customers, especially wealthy customers. With globalization on the march over the past generation, many have added “in all places” to their ambitions. That model has hit some snags over the past few years, not least in private banking.
Wealth continues to burgeon around the world, particularly in Asia; and financial markets have been largely cooperative. But the newer wealthy want more control over their money—through innovative digital tools and access to bespoke investments—and are less willing to pay for high-commission discretionary management overseen by highly paid relationship managers. That’s made it harder for private banks to earn profits, despite rising assets under management. Even some well-known brands have chosen to fold their tents in Asia and elsewhere.
The industry survivors have used these challenging years to rethink and refocus on what they do best. Private banking has become more segmented and diverse, to the benefit of clients and banks alike. Global houses like Credit Suisse, which takes our Best Private Bank for Business Owners award, have blended their wealth-management and investment-banking operations, offering global reach and one-stop management to the energetic army of emerging-markets entrepreneurs. Regionally based competitors like Bank of Singapore, its crosstown rival DBS and South Korea’s KEB Hana have staked their futures on hypercharged digital innovation and backing Asian business stars early in their careers.
The best of the old-line European private banks are thriving in this innovative new world, too. Houses like Pictet, which wins our award for Best Private Bank in Western Europe; and LGT, which gets the nod as Best Boutique Private Bank in the World, find their aura of tradition, personal attention and disinterested advice for the long haul can generate rapid growth well beyond their Alpine home bases. The same goes for several banks, like Scotia Wealth Management and Butterfield, that have stuck to their in the Caribbean offshore zones. Business is good and is adapting to new global pressure for transparency—even if the publicity around it is bad.
Private banks are also segmenting according to the level of wealth they target. At the top end of the spectrum, Citi, our Best Private Bank in North America, strives to realize the far-flung financial dreams of the emerging “global citizen” who has $25 million or more to deposit. On the other end, BBVA is targeting the mass affluent, playing on its main street presence throughout Europe and Latin America to bring lighter-touch private banking to clients starting at €500,000 ($563,404).
A few extraordinary private banks do still stretch across all geographies and income levels—combining European class, North American power and Asian futuristic moxie. Head of that class this year is BNP Paribas, our Best Private Bank in the World, rivaled closely by UBS, whose refreshing of the most venerable of brands for a new generation helped it earn the Best Private Bank for Millennials award.
As 2018 comes to a close, markets are sending signals that the years of automatic asset increases may be ending, more turbulent times approaching. But the best private banks are ready.
Global Finance staff select winners for these awards based on entries submitted by banks, company documents and public filings. No proprietary information was sought, shared or used in the awards process. We consider local market knowledge, global footprint and investment breadth and sophistication. Because metrics are rarely public in this sensitive corner of finance, we incorporate perspective from analysts and consultants who focus on this sector. Performance data were also drawn from industry sources including Scorpio Partnership’s annual Global Private Banking Benchmark and Asian Private Banker magazine’s regional league tables. Size and growth were a factor, but Global Finance also considered creativity, uniqueness of offering and dedication to private banking as a core business either globally or regionally.
BEST PRIVATE BANK IN THE WORLD
Private banking is often seen as a battle between Swiss and US-based global giants, with some homegrown Asian tigers challenging them in the fastest-growing markets. But the best-in-business award this year goes to a venerable French institution. BNP Paribas combines European grace and tradition with a thoroughly modern focus on Asia. Its private bank has grown at an average 18% annually there for the past five years, way outstripping most global competitors.
Wealth managers everywhere are digitizing, but BNP brought an original twist to developing its myWealth platform: including hundreds of clients in the process through “incubators” on three continents. A leader in millennial-friendly disciplines like green finance and microfinance through its investment-banking arm, and in philanthropy for its rich clientele, BNP is well positioned to present a winning image to the rising inheritor generation. There’s nothing backward looking about this icon of Old Europe.
BEST BOUTIQUE PRIVATE BANK IN THE WORLD
If any bank could be expected to rest on its laurels and retreat from 21st-century hubbub, it might be LGT, controlled and operated by the Princely House of Liechtenstein. Instead, LGT is on the march far from its tiny home principality. It acquired HSBC’s Swiss banking assets in 2015, followed the next year by ABN-Amro’s Middle Eastern and Asian operations. That catapulted LGT into a No. 12 ranking in Asia, player status in the most dynamic wealth-management market.
But the bank hasn’t forgotten where it came from, and loses no opportunity to remind potential clients either. The current CEO is Maximilian von und zu Liechtenstein, second in line to a throne his family has profitably occupied since 1719. The core offering he pitches is the Princely Portfolio, a private-equity-heavy mix geared for patient, long-term gains. This approach may not be for everyone. But in a market full of banks spouting indistinguishable rhetoric and services, LGT at least offers a clear alternative.
MOST INNOVATIVE PRIVATE BANK IN THE WORLD
DBS Private Banking
Trademarking an iWealth platform might seem pretentious for any other bank. But Singapore-based DBS continues to set the standard for the industry’s digital transformation, with systems that put clients’ financial worlds in their breast pocket and let the bank work more efficiently behind the scenes. Outstanding technology has been the key to building the No. 1 native-Asian private-banking franchise. Income jumped by another 31% last year, driven in part by acquiring pan-Asian assets from Australia’s ANZ. Asia’s century should be DBS’s too.
BEST PRIVATE BANK FOR SOCIAL RESPONSIBILITY
J. Safra Sarasin
Money isn’t just money to the rising generation of millennial rich. It’s a medium for expressing their personal values and supporting investments that bolster their societal goals. Sarasin, which has learned something about sustainability as a closely held Swiss business since 1841, spotted this trend three decades ago. It’s jumped ahead of European boutique peers with some $29 billion in ESG funds, spread among half a dozen instruments from green bonds to “sustainable technology disruptors.” The bank does well, too, pushing 2017 operating profit up by 28% with a strategy of expansion in traditional European havens like Monaco and Gibraltar.
BEST PRIVATE BANK FOR PHILANTHROPIC SERVICES
Structured philanthropy, impact investing and the like are all the rage these days, as high net worth families everywhere look to the example of Gates, Buffett or Branson. London-based Coutts was among the first to integrate the charitable impulse into a world-class wealth-management structure, founding the Coutts Institute for this purpose in 2005. It continues to pioneer, with some 20 experts on the “philanthropy journey” sprinkled among its relationship managers, supporting causes from combatting youth unemployment to slowing climate change.
BEST PRIVATE BANK FOR INTERGENERATIONAL WEALTH MANAGEMENT BEST PRIVATE BANK FOR MILLENNIALS
Hanging onto the millennial heirs of aging baby-boom clients is a top priority for private banks everywhere. The biggest incumbent, UBS, has also proved among the most nimble in reaching out to the young. Its annual three-day Young Successors Program has set the bar for such “Camp Rich” conclaves, bringing 50 or so of the world’s most favored 20-somethings together for inspiration and esprit de corps. With this demographic set to inherit $30 trillion in North America alone over the next few decades, the investment in a little champagne and caviar should pay back many times over.
BEST PRIVATE BANK FOR DIGITAL CLIENT SOLUTIONS
KEB Hana Bank
You would expect the biggest private bank in South Korea to be a pioneer in digital technology. KEB Hana has been, introducing robo-advisers in 2013 and currently on the verge of deploying an artificial-intelligence-powered investor chatbot. Now the bank is blending these futuristic tools with offline services that offer respite from one of the world’s hardest-working societies: “culture bank” centers with quiet spaces and in-house healers, and “cradle-to-grave” auxiliary services for the harried high net worth family. It’s working. Assets under management (AUM) climbed 10% and profit 19% in the past reported year, even as South Korea’s national economy remained in slow-growth mode.
BEST PRIVATE BANK FOR ISLAMIC SERVICES
Maybank has been working hard to become a pan-Asian franchise with booking centers in Singapore and Hong Kong. But with its roots in Muslim-majority Malaysia, it brings a depth and commitment to Islamic wealth-management services that other Asian rising stars can’t match. The bank combines steady growth—16% in AUM last year—with back-office discipline that has shrunk the cost-income ratio by 2.5% over two years. Maybank is a modern, outward-looking institution where traditional Shariah-compliant clients can feel at ease.
BEST PRIVATE BANK FOR C-SUITE EXECUTIVES
Private bankers’ dreams tend to focus on two sets of clients: business owners poised for a liquidity event and heirs on the verge of controlling existing fortunes. But these groups may be far outnumbered by working executives storing up substantial wealth, particularly in the form of stock options or retirement benefits. U.S. Trust gives this group due attention, with services targeted to the late-career CEO/CFO facing issues of diversification, wealth preservation through the post-working years, philanthropy and passing on what’s left over. The firm’s embedded structure within Bank of America may keep it from being counted among private-banking powerhouses. Results are reported jointly with Merrill Lynch (the two together lead all US wealth managers with $1.3 trillion AUM). But Merrill’s retail operation makes an ideal feeder mechanism for working clients moving up the wealth ladder, while the investment bank opens possibilities once C-suiters have reached private-banking level.
BEST PRIVATE BANK FOR BUSINESS OWNERS
The venerable Credit Suisse staked its future a few years ago on a return to its roots in private banking, blended with the global investment reach it has achieved as a Wall Street player in recent decades. The client in the center of this strategy is the expanding-business owner whose commercial and personal wealth are seamlessly intertwined. That target group is responding, as Credit Suisse reaffirms its place as one of the most dynamic wealth-management franchises in Asia and outgrows archrival UBS globally. Swiss banks in general have proved remarkably adaptable to regulatory upheaval at home and the great shift abroad from Europe to Asia. The revamped Credit Suisse is holding up its end.
BEST PRIVATE BANK FOR ENTREPRENEURS
DBS Private Banking
The unprecedented economic dynamism across East Asia blurs the boundary lines between business- and personal-wealth creation, and can catapult today’s garage entrepreneur seeking a startup loan into tomorrow’s high net worth private-banking client. DBS sits astride this financial crossroads with its “one-bank solution,” and is growing with its clients in volume and geographical reach. Present in China but not overly dependent on it, DBS—and Singapore—look poised to remain regional “honest brokers” for years to come.
BEST PRIVATE BANK IN EMERGING MARKETS
Itau Private Bank
Many boats can be lifted on a rising tide. But to thrive in the recession and political chaos that have characterized Brazil in recent years takes a special organization. Itau has done just that, growing private-banking revenue by 15% and profit by 22% (in local currency terms) in its latest reporting year. The bank has an unassailable franchise among Brazil’s super-rich, with 26 families in its family office at a minimum entry price of around $100 million. But it also reaches out to the mass affluent through a commercial bank that grew substantially last year by acquiring Citigroup’s Brazilian network.
BEST PRIVATE BANK FOR NEW CUSTOMER SEGMENTS
China Merchants Bank
There is no new-customer segment like China’s burgeoning wealthy, and CMB maintained its lead in this market with another year of 33% AUM growth. It is following its clients through the wealth cycle with a rapidly developing family office and dedicated advisers on immigration and foreign study, and beyond China’s borders with branches across global financial capitals. Global private-banking powerhouses are looking hungrily to China onshore business as regulatory barriers fall, but they will have quite a challenge denting CMB’s established franchise there.
BEST PRIVATE BANK FOR NET WORTH UNDER $1 MILLION
BBVA has followed the industry trend of lifting the threshold for private-banking services. But the hike was from €300,000 to €500,000 (about $340,000 to $570,000), leaving it among the most democratic of the global wealth-management names. Simultaneously, it reorganized its offering to emphasize personal relationships, even as digital options widen. BBVA’s reforms dovetailed with a steady economic recovery in its home market of Spain, driving a 15% increase in clientele and an 11% rise in AUM there. The bank adds a strong presence in Mexico and other Latin American markets, offering a haven for the mass affluent scorned elsewhere.
BEST PRIVATE BANK FOR NET WORTH BETWEEN $1 MILLION AND $24.9 MILLION
Scotia Wealth Management
Which swashbuckling banker sailed out from Eastern Canada to the Caribbean in the 1880s to establish Scotiabank’s regional network there may be lost to history. But that banker’s foresight continues to bear fruit. Scotia has doggedly refused to follow private-banking industry trends: It hasn’t rushed into Asia, ditched its mass-affluent customers for the super-rich or abandoned offshore zones in the face of negative publicity. The result is a go-to bank catering to clients across the Western Hemisphere with enough wealth to crave “multijurisdictional” management but too little to crack the coveted “ultra” category. And that’s enough for Scotia to build one of the premier private-banking franchises that makes more money every year without attracting undue attention.
BEST PRIVATE BANK FOR NET WORTH OF $25 MILLION OR MORE
Citi Private Bank
The quintessential banker who tried to do everything everywhere before 2008, Citigroup has restored its health through discipline and picking its spots in the world financial landscape. For private banking, that meant a bold strategic decision to focus exclusively on ultra high net worth clients—or as Citi calls them, “global citizens.” The bank’s worldwide presence is well suited to serve this elite crust’s multijurisdictional life-and-investment style. Investment bankers and asset managers are on call for the wealth-management group, regularly structuring multimillion-dollar investments or bespoke personal hedge funds. The results are solid. Citi was the second-fastest-growing private bank in the global top 10 for 2017, with AUM expansion of nearly 18%. It comfortably held onto second place in Asia.
BEST PRIVATE BANK IN NORTH AMERICA
BEST PRIVATE BANK FOR BUSINESS OWNERS IN NORTH AMERICA
The bulge-bracket houses of Wall Street face two essential challenges in the private banking business: maintain global pace as growth shifts across the world to Asia, and find the right niche amid a fragmenting and demanding wealth management marketplace back home in North America. Citi earns top marks in both categories with its laser focus on ultra-high net worth clients who are restlessly looking to increase their fortunes with deals and investments that span the globe. Traditional strength in Mexico through its Banamex subsidiary makes it the most transcontinental of the U.S.-based giants. And it has a turnaround story to tell after some years of regrouping.
BEST PRIVATE BANK FOR ENTREPRENEURS IN NORTH AMERICA
Chicago, where Northern Trust has been hard at work since the late 19th century, is not a playground for the global super-rich. But it is hub to a vast region, the American Midwest, full of scrappy, ingenious, growing businesses. Helping them and their principals navigate the financial life cycle –expansion, succession, liquidity events, retirement—has become the bank’s forte. That strength propelled it to another excellent year, with 17% AuM growth in 2017. Northern Trust has particularly focused on family businesses, only fitting for an institution that was run by four generations of the entrepreneurial Smith family until 1970. Last year the bank partnered with the Wharton School’s Global Family Alliance to combine the best of academic research in this field with its on-hands experience and financial firepower. Asia is not the only place where business clans flourish.
BEST PRIVATE BANK IN WESTERN EUROPE
If Citi channels the dynamic, creative spirit of North American business, Pictet exemplifies the virtues of Europe: prudence, a long-term perspective nurtured since its founding in 1805, trust, and multi-generational tradition through its independent partnership structure. It manages money the old-fashioned way without cross-selling credit or investment banking services. Yet this old-line Swiss bank has proved adaptable to the seismic changes rocking its regulatory and market environment, and far from unaggressive—with an organic expansion strategy that puts Europe first but is also gaining a respectable foothold in Asia. With 15% AuM growth last year, Pictet is solidly ensconced among the global top 20 in private banking: small enough to maintain cozy personal engagement, big enough to have top-line market expertise.
BEST PRIVATE BANK FOR BUSINESS OWNERS IN EUROPE
While much of the rest of Europe flirts with populist fantasy, Spain and Portugal, BBVA’s core markets, have been sticking to business, engineering an inspiring economic recovery from the difficult post-2008 years. Barcelona has emerged as one of the continent’s top innovation hubs for the 21st century, with Madrid not far behind. BBVA’s euro 500,000 threshold for private banking services lets it grab business owners at an early stage, but its broad reach into investment banking, brokerage and real estate can support them with world-class services as their needs develop. BBVA has also been the most successful of the Spanish banks at expanding into Latin America, with a powerful presence in Mexico, Brazil and beyond – and can open doors there for European business clients.
BEST PRIVATE BANK FOR ENTREPRENEURS IN WESTERN EUROPE
Societe Generale’s private bank has expanded over the past two years from its French home base into the U.K., acquiring venerable London wealth manager Kleinwort Hambros, central Europe, buying some units of Germany’s Commerzbank, and Eastern Europe with new centers in four countries there. Soc. Gen, has meanwhile retreated from other continents, shrinking its service universe of “tax residencies” from 180 to 70. That makes the bank an ideal size and shape to serve Europe’s burgeoning entrepreneurs, who look to the whole continent as their home market regardless of political currents. Soc. Gen. redoubled its focus on this group in 2016 with a unified Entrepreneurs Team that melded expertise from commercial and investment bankers, legal and family planners. It’s working, with 50% of new private bank funds already coming from this unit. It should work even better as the Entrepreneurs Team rolls out to more countries.
BEST PRIVATE BANK IN ASIA-PACIFIC
BEST PRIVATE BANK FOR BUSINESS OWNERS IN ASIA-PACIFIC
Bank of Singapore
Bank of Singapore set a target of growing to $100 billion in assets under management by 2020. They hit it in 2018. It’s tough to outpace a neighbor like DBS. But Bank of Singapore has done it, growing an average 21% annually over the past five years, compared to DBS’ 19%. Chief executive Bahren Shaari isn’t resting on any laurels, though. An established magnet for rich Asians seeking the stability and order of Singapore, the bank is pushing hard now to go where the customers are. It’s raising its game in Hong Kong, with half a dozen senior new hires this year, and Taiwan, where it launched a new team for offshore transactions. BoS is pushing into Europe too, opening the first branch of a Singapore private bank in Luxembourg and poaching a ranking HSBC executive to run it. One more focus area is family offices, where BoS aims to encroach on the traditional dominance in Asia of UBS and other global powers. The firm bills itself as “Asia’s global private bank.” It is steadily making good on that boast for the continent’s outward-looking business community.
BEST PRIVATE BANK FOR ENTREPRENEURS IN ASIA-PACIFIC
Credit Suisse staked its venerable global brand on becoming the go-to wealth manager for Asian entrepreneurs as their interests expand internationally. The strategy is working. Assets in the region grew 23% last year, capping an average 11% increase over the past five years and cementing the bank’s No. 3 position in Asia. Credit Suisse’s investment banking has become more compact and oriented around private banking clients, making it an ideal vehicle for emerging business owners to extend their reach beyond their native terrain.
BEST PRIVATE BANK IN LATIN AMERICA
Latin America may be struggling economically and politically while Asia cruises. But that isn’t stopping BTG Pactual from racking up Asian-style growth in its private bank, with net new money jumping 15% in the first half of 2018 and a projected 20% revenue gain over the year. Founded by Brazilian entrepreneurs 35 years ago, BTG cemented a solid franchise there, then moved on to South America’s two other most promising markets: Chile and Colombia, while opening two booking centers in the U.S. as well. That put it in position to benefit from a series of tax amnesties rolling across South America. Clients may actually need private bankers more in rocky times than in smooth ones, and BTG Pactual is stepping up to serve them.
BEST PRIVATE BANK FOR BUSINESS OWNERS IN LATIN AMERICA
Many Spanish institutions have looked for expansion in Latin America over the past few decades, few more successfully than BBVA. From its Bancomer subsidiary in Mexico to a bustling business in Chile, BBVA private banking can offer its business clients true regional integration, paired to a business model forged in the heat of European competition. BBVA Compass, which is a leading bank across the southern and western U.S., extends the reach for clients that much farther.
BEST PRIVATE BANK FOR ENTREPRENEURS IN LATIN AMERICA
Itau Private Bank
Great private banks for entrepreneurs have to go well beyond private banking. They need commercial banking strength to nurture start-ups before their principals reach HNWI status, investment banking depth to execute deals once they reach cruising altitude, and global reach for expansion and diversification, particularly from boom-bust LatAm markets. Itau is one of the few players in the region that can boast all these strengths, and the natural first stop for the emerging wealthy in Brazil and its second home, Chile.
BEST PRIVATE BANK IN CENTRAL & EASTERN EUROPE
The former Soviet Bloc has been a land of banking opportunity since the fall of Communism nearly 30 years ago. But with shifting political-regulatory tides in the biggest markets – Russia and Poland—and an archipelago of smaller markets elsewhere, it also presents unique challenges that have discouraged many Western European players. Milan-based Unicredit has stayed the course with a private banking operation that spans nine countries in the region, and the effort has paid off. Spectacular growth in Russia continues, with a 29% increase in total financial assets and 23% rise in revenue over the past reporting year. Strongholds farther West include Hungary, Croatia and Slovakia. Unicredit’s Austrian subsidiary, Schoellerbank, adds old-world prestige and style in the traditional bridge country between Western and Eastern Europe.
BEST PRIVATE BANK IN THE CARIBBEAN
Founded in Bermuda in 1858, Butterfield has flourished by maintaining its focus and traditions, while not fearing bold strokes when the situation demanded it. In the former category, count Butterfield’s commitment to remaining “a high-touch traditional private bank,” and determination to stick with its Caribbean roots despite bad publicity for the region’s offshore structures and the lure of Latin America or Asia. The bank’s only private banking center beyond Bermuda is the Cayman Islands.
As for bold strokes, count the acquisition of regional operations from a retreating Deutsche Bank. Aside from bolting on assets, this gave Butterfield a toehold in faraway offshore centers—a banking license in Jersey and trust office in Singapore. Bolder still was the traditional private bank’s decision to issue public shares on the New York Stock Exchange in 2016, with all the non-traditional disclosure that entailed. The stock has been a hit, up more than 50% from the IPO date. Net income for the latest quarter jumped 38% year-on-year.
BEST PRIVATE BANK IN MIDDLE EAST
Credit Agricole Indosuez
French retail banking power Credit Agricole resurrected the Indosuez Wealth Management brand name, which had been lost in a chain of consolidations, in 2016. Bankers there went energetically back to work in their traditional stronghold – found, as the name suggests, in Asia and the Middle East. With private banking operations that date to the 1930s in Saudi Arabia, the Emirates and Lebanon, Indosuez is ideally positioned to service a resurgence of wealth driven by reviving oil prices, and to negotiate the shifting political winds in and around the Saudi Kingdom. But its global reach and status as a subsidiary of a leading European banking group mean it can offer global diversification that regionally based competitors can’t match. The name has an old-fashioned ring to it while the services are modern – an ideal combination for private banking in a tradition-bound part of the world.
BEST PRIVATE BANK IN AFRICA
Much was said a generation ago about post-apartheid South African businesses spurring development across the rest of Africa. Standard Bank has delivered on that promise better than most, leveraging 130 years of experience in South Africa to build fast-growing wealth management operations in Nigeria, Kenya, Ghana, and a dozen other emerging centers across the continent. In Africa’s dynamic but volatile environment, Standard acts as something more than a bank: a part-time university with three next-generation academies stretching from ages 10 to 24, a transcontinental social club with networking events ranging from golf tournaments to arts festivals, a financial bridge to the rest of the world, providing the diversification and preservation so critical to entrepreneurs in unsteady environments. Investment outside South Africa is paying off for Standard as it increasingly diversifies its own earnings stream outside of a slow-growing core market. Africa’s future hopes may take some time to materialize, but Standard has positioned itself as the bank to benefit from them.
GLOBAL FINANCE WORLD'S BEST PRIVATE BANKS 2018
|Best Private Bank in the World||BNP Paribas|
|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||UBS|
|Best Private Bank for Digital Client Solutions||KEB Hana Bank|
|Best Private Bank for Islamic Services||Maybank Islamic|
|Best Private Bank for C-Suite Executives||U.S. Trust|
|Best Private Bank for Business Owners||Credit Suisse|
|Best Private Bank for Millennials||UBS|
|Best Private Bank for Entrepreneurs||DBS Private Banking|
|Best Private Bank in Emerging Markets||Itaú Private Bank|
|Best Private Bank for New Customer Segments||China Merchants Bank|
|Best Private Bank for Net Worth Under $1 Million||BBVA|
|Best Private Bank for Net Worth Between $1 Million and $24 Million||DBS Private Banking|
|Best Private Bank in Emerging Markets||Scotia Wealth Management|
|Best Private Bank for Net Worth of $25 Million or More||Citi Private Bank|
|North America||Bank of America|
|Central & Eastern Europe||Raiffeisen Bank International|
|Middle East||Arab Bank|
|Australia||BT Private Wealth|
|Belgium||ING Private Banking|
|Belize||Caye International Bank|
|Canada||BMO Private Bank|
|Cayman Islands||Scotia Wealth Management|
|China||China Merchants Bank|
|Costa Rica||Citi Private Bank|
|Croatia||Friedrich Wilhelm Raiffeisen Private Banking|
|Czech Republic||Komercní banka|
|Georgia||Bank of Georgia|
|Hong Kong||Hang Seng|
|Israel||Union Bank of Israel|
|Jamaica||Scotia Wealth Management|
|Lebanon||Audi Private Bank|
|Luxenbourg||KBL European Private Bankers|
|Malaysia||Maybank Private Banking|
|Monaco||J. Safra Sarasin|
|Netherlands||ING Private Banking|
|New Zealand||BT Private Wealth|
|Nigeria||First Bank of Nigeria|
|Panama||Citi Private Bank|
|Peru||Scotia Wealth Management|
|Philippines||BDO Private Bank|
|Poland||Bank Pekao Private Banking|
|Portugal||Banco Santander Totta|
|Puerto Rico||Bank of America|
|Qatar||International Bank of Qatar|
|Romania||UniCredit Bank Romania|
|Saudi Arabia||Samba Private Banking|
|Singapore||DBS Private Banking|
|Central & Eastern Europe||Raiffeisen Bank International|
|South Korea||KB Kookmin Bank|
|Taiwan||Taipei Fubon Bank|
|Thailand||KBank Private Banking|
|Trinidad & Tobago||CIBC FirstCaribbean|
|United States||J.P. Morgan Private Bank|
|U.S. Virgin Islands||Scotia Welth Management|