Euromoney names UBS "World's best bank for wealth management"

New York 14 Sep 2020, 14:35 Awards & Recognition

     

New York, September 14 - As part of the 2020 Euromoney Awards for Excellence, UBS was named the "world's best bank for wealth management," one of our industry's top honors, for the sixth time building on regional awards won earlier in the year.

Tom Naratil, UBS Co-President of Global Wealth Management (GWM) and President Americas, said that the bank’s set up during the COVID-19 pandemic “allowed us to weather the crisis really well. Our flat organization enabled us to make good decisions and then get them through to the client as fast as possible.”

Iqbal Khan, Co-President of GWM, also provided insights and said, “Early in the pandemic, we asked ourselves what our fundamental business is. The answer is that we are lifelong financial partners for our clients, here to see them through any difficult situation.”

Euromoney noted that UBS outperformed its peer firms in both Europe and the Americas, and UBS’s GWM division had its best quarterly performance since 2008. During the first half of 2020, UBS had established several new initiatives, including a new capital markets unit that helps clients to identify investment opportunities, improved connectivity within its US asset management division to accelerate the shift from brokerage to advisory amid fee compression. Euromoney also highlighted UBS’s new global family office division continues to evolve to meet the needs of its wealthiest clients.

In the third quarter of 2020, UBS has focused on helping ultra-high net-worth (UHNW) clients achieve their philanthropic goals, and UBS recently announced that they will offer sustainable investments as its preferred solution for wealth management clients worldwide. As Euromoney explains, the total amount of sustainable assets managed by UBS in 2019 more than doubled to $488 billion, which accounts for 36.2% of all invested assets at the end of the year.

According to Euromoney, the bank’s Co-Presidents of GWM continue to look to the future. Naratil said, UBS has benefited immensely from its status as “a solid and reliable partner,” and added that “this is where UBS outperforms.” Euromoney also highlighted Khan’s thoughts on ensuring UBS continues to “outperform” in the second half of 2020 and beyond. “We have done well, but we need gas in the tank. That is done by continuing to motivate our people and giving them a purpose, which is to serve our clients to the best of our ability.”

Environmental Finance IMPACT Awards 2020

In addition to this award, UBS’s GWM division has been named Wealth Manager of the Year in the Environmental Finance IMPACT Awards 2020. The awards, which are judged by an advisory panel of industry experts chosen for their knowledge, objectivity and credibility along with the Environmental Finance editorial team, seek to recognize and reward the work of impact investors everywhere and highlight emerging pockets of best practice, across all asset classes and all geographies.

About the Euromoney Awards for Excellence

Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry. This year Euromoney received almost 1,000 submissions from banks in our regional and country awards programme that covers more than 50 regional awards and best bank awards in close to 100 countries.

Notes to Editors:

About UBS Global Wealth Management

As the world's largest wealth manager, UBS Global Wealth Management provides comprehensive advice, solutions and services to wealthy families and individuals around the world. Clients who work with UBS benefit from a fully integrated set of wealth management capabilities and expertise, including wealth planning, investment management, capital markets, banking, lending and institutional and corporate financial advice.

About UBS

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.

UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 31% of its employees working in the Americas, 32% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 18% in Asia Pacific. UBS Group AG employs over 67,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

Euromoney Disclaimer

Submissions for the awards were received by Euromoney from firms that provide wealth management services to clients on a global scale, combining excellence in advice, products, technology and innovation, as well as demonstrated growth in client assets and revenues and strong financial performance. Final choices were made by the Euromoney Editorial Committee after evaluations of qualitative factors and interviews with the submitting firms.  Euromoney Awards for Excellence covers global categories, best in class awards in all regions and banks in close to 100 countries around the world.

The Euromoney awards were independently determined and awarded by the Euromoney editorial team. UBS did not pay a fee in exchange for these awards. For more information on a particular award, please visit ubs.com/us/en/designation-disclosures.

Environmental Finance IMPACT Awards Disclaimer

An advisory panel consisting of industry experts chosen for their knowledge, objectivity and credibility along with the Environmental Finance editorial team reviewed the submitted entry material. Judges scored each entry individually with any conflict of interest removed, and the judge’s score are confidential. The Judges’ decision is final and neither Environmental Finance nor the judging panel entered into any correspondence regarding individual entries and/ or award winners.

Winners editorial on the homepage of Environmental Finance website will also be featured in the Environmental Finance Autumn print magazine, accompanied by additional editorial and promotion from featured IMPACT Award Winners.