Global Private Bank at Private Banker International’s 18th
annual awards ceremony, this year held in Singapore.
Tom Allen, managing director and private banking COO at the
Swiss bank, picked up the prize in an evening celebrating
excellence in the private banking industry. Credit Suisse beat off
close competition from Barclays Wealth and HSBC for the award.
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Chris Meares, CEO of HSBC Private Bank, took the individual
global prize for Outstanding Private Banker, while Thomas L.
Kalaris of Barclays Wealth took the award for Outstanding Strategy
in Wealth Management.
The awards came in the middle of a two-day conference organised
by VRL, publisher of PBI, a series of debates and
presentations from some of the most influential players in the
industry.
The key takeaway from the event were that efforts need to be
redoubled to provide advisory services to clients.
The race is also on for the growing class of entrepreneurs,
especially in Asia. Peter Flavel, Standard Chartered’s head of
private banking, presented exclusive research showing only 20
percent of self-made millionaires use private banking services.
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By GlobalDataMany of these individuals made their first million by the age of
30, which Flavel said had implications for bank’s marketing
tactics, which typically focus on much older clients.
