Citi unseating UBS for top spot in PWM’s annual private banking awards is indicative of a wider trend of US institutions’ increasingly ambitious global plans

Although most believe the London will remain a high profile hub, the appeal of rival centres is growing and banks would rather wait to discover what the future holds before committing to the UK capital 

Only a handful of private banks have truly embraced the realities of the tech revolution, although their chief investment officers have long been targeting the themes which underpin the evolution of a digital society

Private banks may talk a good game about how they are transforming themselves, but most are really only repackaging existing services. A much more significant change is required, in areas such as ESG investing and in the digital arena, if they are to engage with a new generation of clients

There are huge opportunities to be found across Asia, but both local and global investors risk missing out 

Having ruled the roost at Julius Baer for almost a decade, eyebrows were raised when Boris Collardi signed up to run Pictet’s wealth management business. But will he be able to exert the same influence he enjoyed in his old role? 

The younger, more dynamic private banks which cut their teeth in the emerging regions appear better placed to rise up and challenge the global leaders for a seat at the top table than the more traditional European names 

Investment bankers used to call the shots, with private banking and asset management seen as little more than diversifiers. But times have changed, and as banks redraw business models, wealth management divisions are being placed front and centre