UBS has won the "Best Private Bank in Europe" award in the 2011 Global Private Banking Awards. Kathryn Shih, CEO of Wealth Management APAC, was named "Best Leader in Private Banking". The Global Private Banking Awards are conferred annually by The Banker and PWM (Professional Wealth Management), both publications of the FT Group.

This year, the awards reflect the changed business environment for the industry, with the impact of new regulations and more demanding client expectations leading private banks and wealth managers to enhance their client service infrastructure and the way they operate. UBS was also highly commended in the following categories: Best Global Private Bank, Best Private Bank in Asia, Best Private Bank in Central & Eastern Europe, Best Private Bank in Switzerland and Best Brand in Private Banking categories.

The winners were selected by an expert panel of eight industry professionals based in North America, Asia and Europe. They assessed submissions made by private banks, and were supported by Scorpio Partnership, which evaluated the quantitative aspects such as assets under management, net new money and cost-income ratios.

The award ceremony was held in Geneva on October 27.