2022 Awards for Distinction - The Winners

Winners The

The benchmark for excellence in private banking and wealth management in the Asia-Pacific region

Letter editor from the

Welcome to the 2022 Asian Private Banker 12th Awards for Distinction Winner’s Edition.

What a 12 months it has been! As the judging panel for the Awards for Distinction began its deliberations over the entries for the most recent edition of our flagship awards, China was rapidly — and chaotically — starting to loosen the shackles of three years of zero-COVID restrictions. The surprise nature of this development, which few had predicted to happen so suddenly, was true to form for much of what 2022 had delivered. While it already seems like a lifetime ago, Russia’s shocking invasion of Ukraine at the start of 2022 set the tone for the subsequent months. Also, Asia’s key wealth hubs of Hong Kong and Singapore were rocked by the arrival of the Omicron variant of COVID-19.

These events had a profound effect on Asia’s private banking industry — mostly negatively, if we are honest. During the first three quarters of 2022, CIOs, fund selectors and discretionary portfolio managers scrambled to determine how best to re-orient clients’ asset allocations amid surging inflation and rising interest rates that prompted the largest sell-off in decades across major equity and bond markets. China’s economy continued to teeter.

But let us focus on the more optimistic aspects. While AUM values across the region’s private banks were largely hit across the board, some fared better than others. For example, those able to re-direct their product shelves towards alternative and less correlated strategies thrived. This was evident to the judging panel, which noticed a broad-based bulking up in the asset classes including semi-liquid alternatives and real estate-focused products. Similarly, the tumultuous times burnished the value proposition of discretionary portfolio management (DPM) — whose penetration rates across Asia-Pacific portfolios have been creeping up in recent years. Finally, in terms of investment products, banks that proved resilient in 2022 were those that managed to offer clients a comprehensive array of structured products, such as principal-protected notes, and those focused on downside hedging.

Moving into 2023, the lifting of COVID-related travel restrictions across Asia injected fresh energy into the industry. Crucially, there are now few limitations on travelling across the Greater China region, as well as in and out of Hong Kong and Singapore. As a result, RMs in those two wealth hubs have been busy checking in with clients they hardly had the chance to meet in person over the last three years.

In terms of the number of banks and wealth managers participating in the Awards for Distinction, 2022 was a record year — a remarkable achievement considering the difficulties facing the industry during the period. Reflecting this, early on in the awards process the judging panel introduced a Highly Commended category for participants deserving special merit, but ultimately not meeting the high standards demanded of the winners. These accolades were awarded purely at the discretion of the judging panel and only in categories where a Highly Commended submission stood out.

To this editor, the consistently high quality of all submissions is a testament to the improving services, products and professionalism of the Asian private banking sector — as well as the rigour demanded by the Awards for Distinction.

We warmly congratulate all the recipients of accolades at the 2022 Asian Private Banker 12th Awards for Distinction.

Daniel Shane editor Asian Private Banker

Individual Awards

Whole of Business Awards

Investments & Content Awards

Service Awards

Individual Awards

Arnaud Tellier CEO, Asia Pacific BNP Paribas Wealth Management

Private Banker of the Year

Arnaud Tellier

What they said...

Thank you Asian Private Banker for this recognition. It is an immense honour to receive this prestigious award of Private Banker of the Year

I believe the recognition goes beyond personal achievement, and reflects the collective effort of all BNP Paribas Wealth Management colleagues across Asia. Without their tireless efforts serving clients, and their flexibility in adapting to changes on our transformation journey, we would not be where we are today.

Challenges and risks may never go away, but I am optimistic that by working together, we will capture growth opportunities for clients in 2023.

What we said...

BNP Paribas Wealth Management’s record haul of seven wins at Asian Private Banker’s 12th Awards for Distinction is a reflection of the exceptional leadership capabilities of Arnaud Tellier, the private bank’s regional CEO. Those capabilities will have been tested more than ever in 2022, when the standard 60/40 equities and bond portfolio suffered its worst performance in decades, leaving wealth clients with few places to hide, said Daniel Shane, editor of Asian Private Banker

Yet, under Tellier’s leadership, BNP Paribas Wealth Management’s regional operation has ably helped clients navigate this volatility while enhancing its investment platform and product suite, and solidifying its position in key markets. Those achievements are recognised in BNP Paribas Wealth Management’s success in such Awards for Distinction categories as Best Private Bank – Hong Kong, Best Private Bank – Investment Advisory, Best Private Bank – Sustainable Investments, and Best International Private Bank – Discretionary Portfolio Management

Those victories have by no means been easy for Tellier. His appointment to the role of sole Asia-Pacific CEO came just weeks before the outbreak of COVID-19. Just months after taking up the hot seat, the private bank made the difficult decision to exit the onshore India market entirely, shedding billions of dollars of Asia-Pacific AUM in the process.

However, these decisions seem prescient in hindsight. After experiencing a record year for revenue in 2021 in Asia-Pacific, the bank made major inroads into solutions such as DPM, which yielded a record in 2022 in terms of penetration. In addition, BNP Paribas Wealth Management has injected digitalisation into a broader array of offerings, and has drastically accelerated client onboarding.

In Hong Kong — the North Asia stronghold of BNP Paribas Wealth Management — the bank has kept going from strength to strength. The lender has a penetration rate of 70% among the city’s billionaires, all the while recording robust growth in key metrics such as revenue, AUM and net operating income. Against a backdrop of increasing linkages between the private bank and the rest of the BNP Paribas group, BNP Paribas Wealth Management has seen a notable increase in clients drawn to its one-bank platform. In 2022, the private bank onboarded 70% more clients in Hong Kong than the year before.

In the most testing of years, BNP Paribas Wealth Management's regional operation thrived under Tellier's leadership, and we are delighted to recognise him as Asian Private Banker's Private Banker of the Year for 2022.

COO of the Year

Congratulations to

Laurent Rosfelder

Laurent Rosfelder operating head

North Asia, UBS Global Wealth Management

What they said...

I am deeply honoured to receive this recognition. This award is a tribute to the fantastic COO team in APAC and globally. The digital transformation journey over the past few years has brought challenges and opportunities. We have overcome the challenges and have excelled in efficiently supporting business growth. The COO team and I are committed to remaining a close partner to the business and to driving the transformation journey.

What we said...

Since launching the My Way digital platform in Asia more than two years ago, UBS has led the way among the region’s private banks in hyperpersonalisation of investment advice and discretionary mandates. Only now are its peers beginning to catch up in terms of taking the best of what the likes of Netflix have to offer and applying that to shake up the often technologically-archaic world of private banking, said Daniel Shane, editor of Asian Private Banker

The success in presenting such digital endeavours to its private clients in the region is in no small part down to Laurent Rosfelder, operating head for wealth management, North Asia, at UBS. The executive has pioneered the Swiss universal bank’s so-called ‘high-tech, high-touch’ service in the region that nimbly walks the line between offering the latest technological tools for its sophisticated client base and ensuring the human advisor remains at the heart of the bank’s service offering.

Rosfelder shows few signs of stopping there, however. In 2022 alone, UBS launched WE.UBS, a digital wealth management platform targeting emerging HNWIs in China’s Greater Bay Area, as well as UBS Circle One, an Asia-developed app that aims to better connect clients with experts within the bank.

With the bank’s impending move in North Asia to new, purpose-built premises in Hong Kong’s Kowloon district, Rosfelder is sure to be keeping busy in the coming months and years, and we are delighted to recognise him as Asian Private Banker's COO of the Year for 2022.

Horace Yip head of

Hong Kong and Greater Bay Area Citi Private Bank

Rising Star of the Year

What they said...

I am incredibly honoured to be recognised alongside my peers in the 2022 Asian Private Banker 12th Awards for Distinction. This is an exciting time for our industry, especially here in Asia where we have seen phenomenal wealth creation over the past two decades.

With its global network and local expertise, Citi Private Bank is uniquely positioned to advise the region’s UHNW individuals and their families.

What we said...

While many in the industry faced a challenging 2022, Citi Private Bank enjoyed a record-breaking year for onboarding clients in the Hong Kong market. That growth was in no small part down to Citi taking the opportunity to showcase its values to clients during the market turbulence. But the role of Horace Yip, Hong Kong and Greater Bay Area head, in those achievements should not go unrecognised, said Daniel Shane, editor of Asian Private Banker

In 2022, Yip added the role of head of Greater Bay Area to his Hong Kong duties, where he has been in charge since 2018. This expanded role means he is responsible for Hong Kong and the mainland China South and West markets. More importantly, the new role reflects the increased interconnectivity between Hong Kong and the Greater Bay Area, as well as the opportunities for Citi Private Bank as it is attracting a greater share of this market.

This new award honours up-and-coming, individual executives who have demonstrated beyond question their commitment to excellence across fields including employee well-being, nurturing talent, and client service, and Asian Private Banker is proud to award Horace Yip its inaugural prize for Rising Star of the Year at the 12th Awards for Distinction.

Horace Yip

Whole of Business Awards

Tan Siew Meng regional head of HSBC Global Private Banking, Asia Pacific

Best Private BankAsia Pacific

What they said...

We are honoured to be recognised as Best Private Bank – Asia Pacific, for the second consecutive year, demonstrating our remarkable achievements in delivering our vision to become Asia’s leading international wealth manager, and our commitment to place clients at the centre of everything we do.

This client-centricity means we are focused on ensuring that every client receives the best ideas, advice, solutions, and services tailored to their unique circumstances, opening up a world of opportunity every day. And we are committed to bringing the best of HSBC to clients, whose needs are increasingly international and span the personal and business spheres.

Despite the turbulence and complexities of 2022, we focused on helping clients navigate the investment landscape, enabling them to both manage risks and capture opportunities. And we remained steadfastly committed to investing in our people, platforms, digital capabilities and product offerings, all of which are critical enablers for us to seamlessly provide the best-in-class client experience to the entire wealth continuum.

Each year, we continue to build on our solid momentum, harness HSBC Group’s strengths and enhance our capabilities to match the trust that clients have placed in us to be their partner of choice as their needs and the aspirations of their families and businesses evolve.

What was behind the judges’ decision?

• Robust expansion and increased penetration of Asian private banking franchise into fast-growing markets, including onshore mainland China, Taiwan and Thailand

• Deeper penetration into key UHNW client segments, including key hires and the roll-out of bespoke solutions across lending, mandates and family office advisory

• Strong evidence of increased and effective collaboration across HSBC group and client continuum, demonstrated by a significant rise in client referrals, including from commercial, global and retail banks

• Transformative developments in digital technology that have markedly boosted client experience, including the launch of digital discretionary portfolio management (DPM) in the region and online trading of structured products

What we said...

HSBC Global Private Banking’s victory in eight categories at the 2022 Asian Private Banker Awards for Distinction is a testament to the strength and depth of the bank’s private wealth management in Asia-Pacific,” said Daniel Shane, editor of Asian Private Banker.

In the view of APB’s expert judging panel, HSBC Global Private Banking has profoundly and continuously developed its capabilities across geographic markets, asset classes, product platforms and the entire wealth continuum. From digital innovation, to client experience, to credit, HSBC Global Private Banking is a leader in providing end-to-end services to U/HNWIs in Asia-Pacific. This was reflected in HSBC Global Private Banking winning the much-coveted, flagship Best Private Bank – Asia Pacific award for the second year running. APB would like to congratulate everyone at HSBC Global Private Banking on this richly deserved accolade.

Tee Fong Seng CEO

Pictet Wealth Management Asia

Best Private BankPure Play

What they said...

2022 was a trying year for the industry, due to geopolitical tensions, more climate risk, monetary tightening and the highest levels of inflation in decades, resulting in massive disruptions and deleveraging across most asset classes in Asia.

In such periods of turbulence, Pictet is generally regarded as a safe haven: clients value Pictet’s stability, the strength of its balance sheet and its long-term approach. The “Pictet Fortress” offers certainty to its employees, clients, regulators and the investment community.

What was behind the judges’ decision?

• Market-leading performance in key metrics including AUM, net new money and recurring revenue, highlighting the bank’s emphasis on stability and resilience during extremely volatile market conditions

• Significant enhancements to product platform, particularly in terms of alternative investments, including launches and fundraising for strategies focused on thematic private equity — healthcare, technology and environment — real estate, hedge funds and co-investments

• Increased penetration and growth of market-leading DPM proposition, highlighted by outperformance in mandates covering moderate, balanced and growth strategies. Furthermore, the bank made significant senior hires in this area during the period under consideration, including head of DPM and CIO

• Greater momentum in wealth planning and related services, including senior hires in wealth planning and philanthropy during 2022, reflecting rising demand from UHNW families for more structured offerings

• Commitment to increasing presence in regional domestic markets with entrepreneurial and strategic approach (such as through partnerships with local players) which has already raised several hundred million dollars in new assets

The Pictet partnership has always been about continuation. Through the many financial and economic crises over the past 218 years, Pictet has navigated the ups and downs of booms and busts, of wars and peace, and repeatedly demonstrated that it has not only survived but thrived in challenging times.

Notwithstanding the external pressures in 2022, Pictet rose to the challenge. In Asia, its wealth management business stayed resilient and stable across all key metrics — AUM, net new money, revenues and the relationship manager base. We still delivered high quality assets and revenues — with more than half of the AUM in managed solutions and over 60% recurring revenues. We kept investing in people and platform, expanding our investment specialist teams across the region, achieving a high 1:2 investment professionals to banker ratio — a reflection of the strong commitment to Pictet’s legacy as an investment led firm.

With the focus on our strong value proposition for UHNW clients, we expanded our Wealth Solutions platform in 2022, adding dedicated Philanthropy Services in Asia. Pictet’s unique independent private partnership model takes a long term approach — looking beyond more than a few quarters, and focusing on active investment with interests aligned with clients. In Asia, we remain focused on investment performance and on delivering the outstanding Pictet service to clients, investing in people and platform, driven by our strong legacy and guiding principles around independence, long term thinking, partnership, responsibility and entrepreneurial spirit.

What we said...

Asian Private Banker’s decision to award Pictet Wealth Management the prize for Best Private Bank – Pure Play at the 12th Awards for Distinction is a reflection of the Swiss firm’s strength and depth across investments, products and client relationships, said Daniel Shane, editor of Asian Private Banker

During what was an undeniably perilous market environment in 2022, Pictet Wealth Management impressed APB’s expert judging panel with its market-leading solutions across discretionary portfolio management, funds, and alternative investments — among other offerings. All of the group’s astute developments across its platform in 2022 were ably steered by its independent private partnership model, ensuring stability in vision and management even during times of upheaval. APB would like to congratulate everyone at Pictet Wealth Management on their success at the 12th Awards for Distinction, the region’s premier awards programme for the private banking industry.

Best Private BankIntegrated Platform

Vincent Chui head of Wealth Management,

Asia Pacific Morgan Stanley Private Wealth Management Asia

What they said...

We are proud to be awarded Best Private Bank – Integrated Platform.

Morgan Stanley Private Wealth Management Asia is an Asia-domiciled private bank dedicated to serving Asia-domiciled UHNWs. To ensure that clients are advised by the brightest minds on the Street and benefit from our leading global capital market capabilities and connectivity, the private bank is structurally integrated with Morgan Stanley’s wider institutional securities businesses, including investment banking, capital markets, equity, fixed income and research.

What was behind the judges’ decision?

• Through its Corporate Solutions Services unit, Morgan Stanley Private Wealth Management Asia demonstrated an unparalleled ability to provide its wealth clients with bespoke, marketappropriate solutions around cash management, yield enhancement, and hedging through a single custody platform with durations of up to 10 years

• Noteworthy increase in the number of regional stocks covered by Morgan Stanley’s research capabilities and offered to Asia wealth clients — from 1,400 individual equities in 2021 to 1,700 in 2022

• Demonstrable evidence of Morgan Stanley Private Wealth Management Asia making the most of content and expertise at the group-level for private clients’ benefit — such as through the 14 conferences and summits that were held during 2022

• Harnessing tighter collaboration between the private bank and investment bank, Morgan Stanley Private Wealth Management Asia was able to drastically enhance its offering in alternatives — including direct investments and venture capital — as well as provide access to proprietary institutional private deals

When UHNWs bank with Morgan Stanley Private Wealth Management Asia, they are banking with Morgan Stanley, across institutional and wealth platforms globally and regionally. We understand that UHNWs expect and demand nothing but the best. And only a truly integrated platform can offer them what they need. At Morgan Stanley Private Wealth Management Asia, we work closely with institutional colleagues to provide a One Firm solution to UHNW clients in the region.

What we said...

Asian Private Banker’s decision to once again award Morgan Stanley Private Wealth Management Asia the accolade of Best Private Bank – Integrated Platform is a firm recognition of the sheer scope of the institutional-level platform, content and services that private bank clients receive, said Daniel Shane, editor of Asian Private Banker

Despite a tough underlying market environment, Morgan Stanley Private Wealth Management Asia was able to markedly enhance its integrated platform offering in the form of its market-leading Strategic Advisory Solutions group, whether through research, private investments, or sophisticated hedging strategies. Asian Private Banker’s judging panel would like to congratulate everyone at Morgan Stanley Private Wealth Management Asia for another stand-out performance at the Awards for Distinction.

Best WealthIndependent Manager -

Asia Pacific

What was behind the judges’ decision?

• Generation of considerable alpha by Lighthouse Canton’s Growth and Defensive strategies in 2022, despite an extremely volatile underlying market environment, versus global benchmarks including US tech, global equities and global investment grade bonds

• Truly differentiated proposition in terms of private investments, encompassing real estate, venture equity, and venture debt, supported by a founders’ ecosystem that focuses on the needs of upcoming founders and creates a virtuous circle for investors

• Lighthouse Canton made strides in developing its client-facing technology platform, providing end-to-end wealth management services. The platform now offers everything from trade execution, to KYC, to portfolio management and analytics, to an investment marketplace with a wide array of products and asset classes

• The firm demonstrated a dedication to nurturing the next generation of wealth managers. Working alongside tier-one institutions in Southeast Asia, Lighthouse Canton gives MBA students a range of learning journeys and sessions ranging from risk management, to client servicing, to technology trends

• End-to-end wealth planning solutions covering everything from succession and estate planning to concierge services, utilising both in-house expertise and an extensive network of external partners, when appropriate

Shilpi Chowdhary group CEO Lighthouse Canton

What they said...

This has been a proud moment for our entire team. We would like to thank clients for their continuous support; without them, we would not be where we are today.

Entrepreneurship and excellence are two essential pillars upon which our team has built its determination to offer innovative investment solutions, and its ambition to keep improving across the organisation, while setting high business standards for ourselves.

In 2022, the financial markets witnessed strong headwinds because of inflation, rising interest rates, and increased market volatility caused by various events. However, our team demonstrated persistence in its efforts to provide strategic investment solutions to clients. Our investment ethos and portfolio design process have allowed us to generate high alpha compared to global benchmarks, while minimising risk to capital.

The award for Best Independent Wealth Manager – Asia Pacific is a testament to our endeavour to become market leaders in people excellence, digital agility, and investment acumen. And we are determined to redouble our efforts to uphold this position as the leading independent wealth manager in the Asia Pacific.

What we said...

Offering a diverse investment solution made up of more than 50 strategies globally, Lighthouse Canton brings an institutional-level investment approach to the UHNW client segment, said Daniel Shane, editor of Asian Private Banker

In the more than seven years since it was founded, Singapore-based Lighthouse Canton has consistently proved its capabilities in sourcing and packaging non-traditional investment solutions that can enhance clients’ risk-adjusted returns. Everyone at Asian Private Banker would like to congratulate Lighthouse Canton on its success at the 2022 Awards for Distinction in the category for Best Independent Wealth Manager – Asia Pacific

Best Private Bank

Asia Pacific UHNW

Vincent Chui head of Wealth Management,

Asia Pacific Morgan Stanley Private Wealth Management Asia

What they said...

We are privileged to be awarded Best Private Bank – Asia Pacific UHNW

While global asset owners faced unprecedented downward market pressure in 2022 from the dual challenges of runaway inflation and recession risks, UHNWs in Asia — particularly in North Asia — also had to navigate complicated geopolitics and a third year of COVID-19 disruptions.

As a private bank dedicated to Asia’s UHNWs, it is imperative that we understand clients’ specific financial and non-financial needs, and that we have the expertise, products and platform to address them.

As a global integrated financial services firm with a leading investment bank and the largest wealth manager globally with US$4.2 trillion in assets under advisory, Morgan Stanley has the institutional strength and connectivity to address the sophisticated demands of Asia’s UHNWs across countries and asset classes. We understand that UHNWs expect and demand nothing but the best.

What was behind the judges’ decision?

• With the launch of its Advisory Portfolio Management service in 2022, the bank has noticeably enhanced its offerings of highly customised investment solutions and mandates. In addition to helping clients navigate volatility, the move will herald an increasing share of recurring revenue at the top line

• Demonstrable evidence of Morgan Stanley Private Wealth Management Asia making the most of content and expertise at the group-level for private clients’ benefit — such as through the 14 conferences and summits that were held during 2022

• Harnessing tighter collaboration between the private bank and investment bank, Morgan Stanley Private Wealth Management Asia was able to drastically enhance its offering in alternatives — including direct investments and venture capital — as well as provide access to proprietary institutional private deals

• Morgan Stanley Private Wealth Management Asia has comprehensively expanded its wealth planning solutions, as shown by its onboarding of wealth planning and insurance providers

What we said...

Asian Private Banker’s decision to once again award Morgan Stanley Private Wealth Management Asia the accolade for Best Private Bank –Asia-Pacific UHNW reflects the US bank’s progress in continually improving its already market-leading service and solution for the wealthiest of Asia-Pacific’s wealthy, said Daniel Shane, editor of Asian Private Banker

During the period under consideration by the judging panel, Morgan Stanley Private Wealth Management Asia comprehensively scaled up its platform and expanded its products and services catering to its UHNW clientele. Asian Private Banker would like to congratulate everyone at Morgan Stanley Private Wealth Management Asia on the bank’s success at the 2022 Awards for Distinction.

Tan Siew Meng regional head of HSBC Global

Private Banking, Asia Pacific

Best Private Bank

Asia Pacific HNW

What they said...

Our driving vision is to create a market-leading international wealth management experience, delivered by expert relationship managers and supported by a comprehensive retail banking and a cutting-edge digital platform. This award is a reflection of our outstanding delivery of a seamless, best-of-both worlds solution to our high net worth clients.

Throughout each stage of clients’ wealth journey, it is our privilege to be their partner of choice. Meeting the unique needs of each client means tailoring strategies that reflect their lifestyle, values, and priorities — a challenge that we are glad to work on with clients each day.

What was behind the judges’ decision?

•

HSBC Global Private Banking clearly articulated a comprehensive approach in delivering “best-of-both worlds” solutions to HNW clients, combining a high-touch service with digital tools and access to market-leading content. This was most evident in its “one single advisor” model, where the client has one touch-point that serves all their wealth needs

• The bank was able to convincingly argue that its HNW proposition is contributing a meaningful and growing proportion of the overall wealth business on a net new money and revenue basis

• Market-leading product suite of solutions and clear evidence of being able to re-orient, improve and adjust this according to prevailing market conditions, including substantially strengthened alternatives offering, which itself enjoyed record fundraising during the period under consideration

What we said...

HSBC Global Private Banking took home the spoils for the first time in the category for Best Private Bank - Asia Pacific HNW, reflecting a deepening commitment to HNW clients across the region, said Daniel Shane, editor of Asian Private Banker

The increasingly complex nature of this important client segment, coupled with the widespread disruption that prevailed through 2022, saw the bank doubling down on its efforts to provide innovative and timely solutions across a wide range of product classes in a digitally versatile manner. Despite the scale and spread of HSBC Global Private Banking operations across Asia Pacific, the ability to leverage the capabilities of its integrated platform to manage, maintain and satisfy clients' needs with the greatest of efficiency and efficacy led them to success in this much-coveted category, and Asian Private Banker would like to congratulate everyone at HSBC Global Private Banking on their success.

Best Private BankWealth Continuum

Stefan Lecher regional head of

Investments & Wealth Solutions, Asia Pacific, HSBC Global Private Banking

What they said...

We are delighted to receive this recognition for the second year running. With our unique continuum model, we aim to be the primary wealth manager for clients in Asia across all segments, and their trusted partner as their needs evolve.

To this end, we are working hard to ensure clients are supported by the very best actionable ideas, personalised advice and portfolio solutions embedded in a rigorous wealth planning approach. 2022 was a watershed year in this regard.

Against a challenging backdrop, we delivered new and innovative solutions covering all classes and CIO themes, launched with HSBC Prism, a new active advisory service, and enhanced our digital client journeys — ultimately deepening our client relationships across the region.

What was behind the judges’ decision?

• During the period under consideration, HSBC Global Private Banking launched a number of initiatives that enhanced its proposition in the mass affluent segment. For HSBC Premier, these included Future Planner, which allows clients to set long-term financial goals; Wealth Coach, a financial advice platform aimed at millennials; passporting for financial products across Hong Kong, mainland China and Singapore; and Prism, a hybrid advisory service for continuum clients in Hong Kong

• There was strong evidence of increased and effective collaboration across HSBC group and client continuum, demonstrated by a significant rise in client referrals, including from commercial, global and retail banks

• The bank also did more to offer ESG and alternatives-focused products across the entire wealth spectrum. For example, more than 30 ESG funds were offered and a number of private placements conducted their book build jointly across the private banking and wealth businesses

What we said...

HSBC Global Private Banking’s full wealth continuum service model caters for client needs whatever their stage of wealth accumulation, said Daniel Shane, editor of Asian Private Banker

Across advice and solutions, all clients enjoy access to HSBC’s strongest ideas and the entirety of the bank’s platform. As private banks increasingly look to how they can scale up and serve a broader array of client segments, HSBC is truly leading the way in this regard, and Asian Private Banker would like to congratulate everyone at HSBC Global Private Banking on their success in the Best Private Bank – Wealth Continuum category.

Best Private BankGlobal Indians

Congratulations to

What was behind the judges’ decision?

• The bank clearly articulated its seamless interconnectivity between NRI and onshore India markets, and how it assists clients in navigating complexity around regulated cross-border activities

• Bank Julius Baer demonstrated a cohesive strategy for building its business across the NRI and onshore India client segments, including senior hires, deepening market penetration, internal-referral processes and platform enhancements

• The bank illustrated real-life client case studies that outline how it delivers end-to-end products and solutions to UHNWIs with complex, cross-border investment and wealth management requirements

• Significant and meaningful enhancements to Bank Julius Baer’s product suite, including new solutions focusing on private equity and ESG

Rahul Malhotra head

Private Banking

Global India & Developed Markets Bank Julius Baer

What they said...

We are honoured to be recognised as the Best Private Bank – Global Indians for the third consecutive year. It is a testament to the dedication and expertise of our team and the commitment we have in providing clients with the highest level of service and tailored financial solutions.

We are grateful for the trust clients have placed in us and we will work hard to maintain and exceed their expectations. Thank you to everyone who has supported us in this journey.

What we said...

Bank Julius Baer deeply impressed the 2022 Asian Private Banker Awards for Distinction judging panel with its seamless interconnectivity between NRI and onshore Indian client segments. The bank’s offering in this regard has been highlighted by a market-leading platform of products and solutions, which Bank Julius Baer has consistently and continuously improved in recent years, said Daniel Shane, editor of Asian Private Banker

All of that is reflected in the fact that the bank’s AUM across NRI and onshore India is on a firmly upward trajectory. We would like to congratulate everyone at Bank Julius Baer for once again picking up this prestigious accolade for Best Private Bank – Global Indians

Michael Blake CEO, Asia Union Bancaire Privée (UBP)

Employer of the Year

What they said...

Excellence in the workplace is a journey rather than a destination. Asian Private Banker’s Employer of the Year award is an important milestone on this journey, and I would like to thank all my UBP colleagues for their commitment to building an ever-more diverse and engaging working environment, which ultimately delivers a better service to clients.

What we said...

UBP is committed to creating a dynamic, entrepreneurial and engaging work environment for front-, middle- and back-office employees. This is reflected in the fact that the Swiss pure-play is attracting, developing and – crucially –retaining some of the leading lights of the region’s private banking industry, said Daniel Shane, editor of Asian Private Banker

The judging panel thought long and hard about which bank or wealth manager deserved to receive the Employer of the Year accolade — one of the truly blue-ribbon categories of our 12th Awards for Distinction — and sought feedback from stakeholders across the Asia-Pacific industry. During our consultations, one name came up time and again — based on factors ranging from compensation, to talent cultivation, and employee well-being. Evidence of this was seen in the key senior appointments UBP made during the period under consideration.

We can think of no stronger recipient with which to launch the Employer of the Year category at the 12th Awards for Distinction. We would like to congratulate everyone at UBP for their efforts in developing such a well-rounded and rewarding workplace.

Market Segment Awards

Lee head of Hong

Market

Best Private Bank –Hong Kong

Kong

BNP Paribas Wealth Management

What they said...

Thank you for the award, which we accept wholeheartedly. BNP Paribas Wealth Management is a major player in addressing the wealth needs of Hong Kong’s top families. Our dedication to delivering the best-in-class services and products to wealth management clients is defined by a set of well-balanced offerings, as well as our committed and cohesive teams, which make us stand out.

What was behind the judges’ decision?

• Defying volatile market conditions, BNP Paribas Wealth Management delivered a robust performance in Hong Kong in terms of key business metrics, including revenue, AUM growth, net operating income and fundraising for alternative investment solutions

• BNP Paribas Wealth Management in 2022 demonstrated a strong and astute sense of innovation in terms of products, such as launching new principal protected and structured note products — as well as semi-liquid private equity — early in the year to help clients defend against downside risks

• Despite industry-wide deleveraging in 2022, the bank showed a creative approach in order to continue supporting clients with credit solutions. This included bespoke, pre-delivery yacht and real estate financing, often taking advantage of the one-bank model

• The bank presented a clear commitment to ESG and sustainable investing in the context of the Hong Kong market, including significant fundraising from the local market for sustainability mandates

• BNP Paribas Wealth Management was able to showcase a number of examples during the period under consideration of how its one-bank model was used to maximise service levels and solutions for clients, including capabilities in M&A and equity capital markets

What we said...

Despite tough underlying market conditions in 2022, BNP Paribas Wealth Management comprehensively highlighted its commitment to clients in the Hong Kong market with best-in-class services and products. Such well balanced qualities, along with increased investments and expansion in this key client market, meant that BNP Paribas Wealth Management stood out from its peers in the category of Best Private Bank – Hong Kong at the 12th Awards for Distinction, said Daniel Shane, editor of Asian Private Banker

Asian Private Banker’s judging panel would like to congratulate everyone at BNP Paribas Wealth Management on their success in our prestigious awards programme.

Lemuel

James Wey MD, head of

Singapore and Southeast Asia

J.P. Morgan Private Bank

Best Private Bank –Singapore

What they said...

We are extremely proud of being recognised as Best Private Bank –Singapore. This would not have been possible if not for the team’s commitment, the private bank’s regional prowess as well as the firm’s global connectivity and comprehensive capabilities across the asset management and investment bank businesses in Asia.

With a rapidly growing team in Singapore — one of the fastest wealth generating hubs in the world — we are in a strong position to continue to serve UHNW families and entrepreneurs in the region and to find the best wealth solutions tailored to their goals and often complex needs.

What was behind the judges’ decision?

• The bank demonstrated a rigorous and disciplined investment process for its Singapore clients, particularly in the context of 2022’s market volatility, helping clients to navigate the worst of the year’s upheaval with well devised recommendations and allocations across the asset class spectrum, from equities and fixed income, to semi-liquid alternatives and distressed credit

• J.P. Morgan Private Bank convincingly articulated how it has strengthened the relationship between the private and investment bank in Singapore, and how this has delivered superior services and solutions to clients. The bank saw a record number of referrals from the investment bank to the private bank, and significantly boosted internal, one-bank focused training and client events

• Since the start of the COVID-19 pandemic, J.P. Morgan Private Bank has drastically improved its digital capabilities to the direct benefit of clients in Singapore. The bank cited obvious examples of this, including online trading capabilities that seamlessly integrate with the investment bank’s best-in-class research capabilities

• The bank has shown a pro-active and comprehensive approach to talent development, with tailored programmes aimed at staff — ranging from entrylevel analysts to experienced managers

What we said...

While J.P. Morgan Private Bank does not necessarily aim to be the biggest wealth manager in the business, it does aim to be the best. That drive is clearly shown in the bank’s commitment to innovation, improving the client experience and boosting its investment capabilities. Nowhere has this been more evident than in Singapore, where J.P. Morgan Private Bank navigated market volatility to bring clients the best of what it has to offer, said Daniel Shane, editor of Asian Private Banker.

Asian Private Banker’s judging panel would like to congratulate everyone at J.P. Morgan Private Bank on their success at the 12th Awards for Distinction in the Best Private Bank – Singapore category.

Ursula Sista Pravesthi senior vice-president

PT Bank Mandiri Persero (Tbk)

Best Private Bank –Indonesia

What they said...

Wealth Management Bank Mandiri is honoured to be awarded Best Private Bank – Indonesia.

We are committed to enhancing the services provided to wealth management clients. In addition, Bank Mandiri has the ambition to become the undisputed market leader by fostering collaboration and creating synergies with internal divisions and subsidiary companies — such as Mandiri Investment Management and Mandiri Securities.

What was behind the judges’ decision?

• Even though Bank Mandiri was faced with turbulent market conditions during the period under consideration, the lender expanded its presence and deepened its penetration in Indonesia’s burgeoning wealth market. This was reflected in the robust performance of key business metrics in 2022, including AUM, revenue, RM productivity and headcount

• While still a work-in-progress, the judging panel recognised Bank Mandiri Wealth Management’s efforts in implementing a comprehensive digitalisation strategy. Notably, this included the launch of a mobile app in 2022 which offers suggestions for client portfolio optimisation and the purchase of mutual funds, among other features

• What helped Bank Mandiri Wealth Management stand out from the competition during the period under consideration were a number of valueadd services which the bank initiated — ranging from credit cards embedded with concierge service, to day-by-day client advice on Indonesia’s recent tax amnesty scheme

What we said...

Bank Mandiri’s latest success in our Awards for Distinction reflects a private banking player that — despite an already impervious position in its home market — is always endeavouring to do more. Whether that is client service, investment products, or digitalisation. There is simply no better private bank in Indonesia, said Carly Lau, reporter, Asian Private Banker, and member of the Awards for Distinction judging panel. Asian Private Banker would like to congratulate everyone at Bank Mandiri for once again collecting the prestigious Best Private Bank – Indonesia award.

Lim Eng Ping head Maybank Private Malaysia

Best

Private Bank –Malaysia

What they said...

We are honoured to be named the Best Private Bank - Malaysia for the fourth consecutive year. It is a momentous recognition for Maybank whose deep capability and commitment to deliver highly personalised experience to clients — in line with its M25+ strategy — is reflective of the trust that clients place in the bank to manage and grow their wealth, and to solidify the needs of the future generations.

What was behind the judges’ decision?

• Despite tough underlying market conditions during the period under consideration, Maybank Private demonstrated a resolute business performance on metrics such as AUM, revenue and client count

• The bank formulated and executed a strategy to better utilise the capabilities of the Maybank group, including sourcing HNW clients from retail and corporate banking, as well as sourcing clients from the second and third generations of wealth

• Maybank Private enhanced its digital capabilities, with key developments in content for its Maybank Wealth app across asset classes — such as equity, funds and structured products — as well as increased client engagement through video conferencing tools

What we said...

As Malaysia’s largest bank by market capitalisation, the expectations for Maybank to deliver a second-to-none private banking experience are high. Fortunately, the Kuala Lumpur-based lender has delivered once again on all counts. At the 12th Awards for Distinction, Asian Private Banker’s judging panel was deeply impressed by Maybank Private’s sophisticated wealth solutions for both onshore and offshore clients, as well as its unrelenting focus on customer-centricity, said Carly Lau, reporter, Asian Private Banker and member of the Awards for Distinction judging panel.

Asian Private Banker congratulates everyone at Maybank Private for their continued success in the category for Best Private Bank – Malaysia

Best International Private Bank – China

Jackie Mau head of Global Private

Banking, Mainland China

HSBC Global Private Banking

What they said...

We are privileged to receive this inaugural award from Asian Private Banker and I’m proud of all the achievements by my team in the past year despite the challenging circumstances during the pandemic.

This award is testament to HSBC’s wealth ambition and commitment in mainland China. In 2022, we expanded our footprint to six cities in mainland China with many market-first breakthroughs in propositions and digital capabilities.

In 2023, we shall build on this good foundation and bring more exciting new services and solutions to clients and support their wealth management and legacy needs.

What was behind the judges’ decision?

• HSBC Global Private Banking significantly built out its presence in the onshore mainland China during the period under consideration, including the expansion into new geographic regions, the appointment of a dedicated CIO, and the hiring of around 100 staff

• The bank showed a strong willingness to innovate in terms of products in onshore mainland China, such as by launching a dedicated hedge fund solution via a trust structure for clients in this market, making it the first international bank to do so

• Leveraging on the group’s extensive global capabilities, the bank convinced the judging panel that it was the leading proposition for internationally-minded HNWI clients in onshore mainland China, including through its services for asset allocation, legal and tax advisory, philanthropy, next generation and succession planning

What we said...

During 2022, HSBC Global Private Banking significantly raised its ambitions in the onshore mainland China market, both by substantially expanding its geographical footprint and building up its frontline teams. But all of that would mean little without the global connectivity, second-to-none product platform and market-leading client service that Global Private Banking brings to the table,” said Daniel Shane, editor of Asian Private Banker

For all these reasons and more, Asian Private Banker is thrilled to hand HSBC Global Private Banking its first-ever Best International Private BankChina accolade at the Awards for Distinction, the region’s leading industry awards programme.

Jingbo Wang co-founder, chairwoman, group CEO Noah Holdings

Best WealthIndependent Manager –China

What they said...

It’s a great honour for Noah to again receive Asian Private Banker’s recognition in 2022. Noah’s core value is client-centricity. Survival being its bottom line, it has maintained healthy finances.

What the organisational change promoted by Noah over the past three years has highlighted is that Noah is a company with long-term objectives. It will do the right thing, even if this is the harder option. It orients business and investment strategy towards long-term value creation rather than just shortterm performance.

In 2022 — in the face of market volatility and sustained downward pressure on the economy — Noah upheld its client-centric strategy, putting the customer’s needs, wants, and communications at the centre of business. It kept investing in fields such as technology, investment research and customer service.

Noah is of the view that the current macro-economic situation presents not only challenges but also opportunities. The global asset allocation of China’s HNW clients will become a major trend. The end of industrial globalisation coincides with the beginning of China’s capital globalisation. The wealth management needs of overseas Chinese-speaking client groups have been ignored — or at least have not been fully met — and need to be served by financial institutions that are familiar with such needs. This change of client demand is the core driving force of Noah’s international development, and equally the key direction of Noah’s current and future development.

What was behind the judges’ decision?

• Despite volatile underlying market conditions, Noah Holdings highlighted its value proposition as China’s leading wealth manager. This was evidenced by its robust performance in terms of investments, asset gathering, and other key business metrics

• Noah Holdings has made great strides in its digital transformation journey, and in its multi-level Noah Triangle service model, which offer better insights into client needs

• The group has refined and improved its open-architecture product platform which aggregates leading funds from a selection of major Chinese asset managers

What we said...

Asian Private Banker’s decision to again name Noah Holdings Best Independent Wealth Manager – China is a reflection of its fastest-growing value proposition in arguably the world’s most important wealth market –and the trust it has garnered with clients and partners along the way, said Twinkle Sparta, senior reporter at Asian Private Banker, and member of the judging panel.

The judging panel would like to congratulate everyone at Noah Holdings on their success at the 12th Awards for Distinction, the region’s premier private banking and wealth management awards programme.

Sabrina Chen head of HSBC Global Private Banking, Taiwan

Best International Private Bank – Taiwan

What they said...

We are honoured to have won Best International Private Bank – Taiwan. HSBC Global Private Banking is the only international private bank that offers insurance and digital services in Taiwan. We provide tailored lending solutions such as Lombard lending to deepen our client relationships.

To be the best wealth manager in Taiwan, we are committed to investing in our people, platform and capabilities. With HSBC’s cross-business expertise and unrivalled international connectivity, we can support our clients wherever they go.

This accolade shows that we are heading in the right direction, and that we will go above and beyond to bring the best services to clients.

What was behind the judges’ decision?

• HSBC Global Private Banking in Taiwan has leveraged on the group’s renowned capabilities in capital markets and investment solutions to bring a truly international proposition to the onshore market. In terms of the former, this includes research views on 1,400 individual stocks and more than 800 bonds. For the latter, it includes discretionary mandates, a plethora of hedge funds and mobile trading of unit trusts

• The UK lender’s decision to beef up its front office team onshore is already flowing through at the top line. Its increase in headcount has already resulted in a similar jump in revenue. The appointment of a dedicated credit advisor has also meant that HSBC Global Private Banking has been able to provide more tailored lending that closely aligns with clients’ investment objectives

• HSBC Global Private Banking is the only international private bank to offer digital services to HNW clients, ranging from payment transfers, to placement of equities and fund orders through the lender’s mobile app

What we said...

HSBC Global Private Banking has invested heavily in its product offering, digital infrastructure and talent acquisition in Taiwan’s onshore wealth market, reflecting its priority at a global level. That investment is clearly paying dividends, with the bank enjoying significant increases in account openings, net new money and revenue in this market, despite difficult underlying market conditions,” said Daniel Shane, editor of Asian Private Banker

On behalf of everyone at Asian Private Banker, we would like to congratulate everyone at HSBC Global Private Banking on their success in the category of Best International Private Bank – Taiwan at the Awards for Distinction 2022, the region’s premier industry awards programme.

Michael Marr head of Wealth Management, Australia

Credit Suisse

Best International Private Bank –Australia

What they said...

This award reflects the quality of our whole Wealth Management team and their dedication to providing dynamic advice to clients across all asset classes.

What has never been more important — in view of the market volatility in 2022 — is the depth of what Credit Suisse can offer and its ability to draw on the strength of its global platform.

What was behind the judges’ decision?

• During the period under consideration, Credit Suisse in Australia demonstrated the breadth and depth of its one-bank capabilities across investment banking and wealth management. Among the case studies in 2022 were two Australian stock market listings, a private jet financing deal, two private yacht financing deals, and various public and private debt financing deals

• Credit Suisse has highlighted its commitment to the Australian market with a number of key hires over the last 12 months. These include four new RMs, a head of discretionary portfolio management (DPM) for Australia, as well as a local head of wealth planning

• While AUM in Australia fell during the period under consideration, the bank was able to book a strong rise in net interest income and overall revenue, as it capitalised on higher interest rates to build out a strong book of Lombard-lending solutions

What we said...

In its more than 15 years operating in Australia, Credit Suisse has consistently placed its clients in the country at the core of everything it does — from tailored advisory and solutions throughout the wealth lifecycle, to its global platform that makes the most of the Swiss bank’s full range of capabilities, said Carly Lau, reporter, Asian Private Banker, and member of the 12th Awards for Distinction judging panel.

All that turned out to be prescient during the volatility of 2022, when Credit Suisse’s model of focusing on advised assets proved resilient amid the turbulence. For these reasons and more, Asian Private Banker is honoured to name Credit Suisse Best International Private Bank – Australia at the 12th Awards for Distinction.

Lalitphat Toranavikrai CEO SCB Julius Baer

Best International Private Bank –Thailand

What they said...

We are proud to be named the leading wealth management house in Thailand and honoured to serve as the main international bank for clients.

At SCB Julius Baer, we offer a unique approach to wealth management by combining local expertise and international capabilities. Our client-first and advisory-based philosophy delivers exceptional value and expertise. Our advisory experts provide best-in-class solutions for sustainable wealth management.

We are grateful for clients’ trust and are delighted to receive this award.

What we said...

What was behind the judges’ decision?

• During the period under consideration, SCB Julius Baer defied the underlying market volatility by demonstrating sustained positive business momentum across key metrics, including net new clients, AUM and revenue growth

• SCB Julius Baer has placed discretionary portfolio management at the core of its offering. It was the first bank to offer clients in Thailand access to international discretionary mandates, and in 2022 its penetration rate of DPM solutions was extremely high by both local and international standards

• SCB Julius Baer proved to the judging panel its ability to innovate on the products side in ways that its peers did not match. For example, the use of illiquid land assets as collateral for margin loans to invest in offshore solutions such as structured products, mutual funds and private credit

Combining the best of both worlds, SCB Julius Baer brings together Thailand’s leading bank with one of Asia-Pacific’s top pure-play wealth managers. The decision to award SCB Julius Baer Asian Private Banker’s accolade for Best International Private Bank – Thailand was based on the bank’s commitment to understanding the Thai market and its clients’ requirements in terms of culture and investment objectives, said Carly Lau, reporter, Asian Private Banker, and member of the judging panel.

SCB Julius Baer’s success in this mission was demonstrated by its positive growth momentum across key business metrics during the period under consideration for the 12th Awards for Distinction.

Best Domestic Private Bank – China

Congratulations to

What was behind the judges’ decision?

• In a year characterised by market volatility and extreme macro-economic uncertainty, China Merchants Bank Private Banking performed admirably during the period under consideration in terms of key business metrics such as revenue, AUM, net new assets and costto-income ratio

• The above performance was in part informed by an ambitious structural reform at China Merchants Bank, which saw the lender at a group-level more closely integrate its wholesale finance and private banking departments. The end result of this effort has been a more comprehensive and holistic approach to the way in which the bank acquires and serves entrepreneurial clients

• The judging panel was impressed by a number of end-to-end improvements to China Merchants Bank Private Bank’s overall offering, including much enhanced asset allocation capabilities, and the greater functionality of its mobile digital offering, which directly resulted in a significant increase in usage and other KPIs

Wang Yanrong GM of Private Banking China Merchants Bank

What they said...

In line with China Merchants Bank’s strategic objective of establishing a valuedriven bank, its private banking division is endeavouring to deliver multiple value propositions to its customers, employees, shareholders, partners, society at large, and other stakeholders.

CMB Private Banking is determined to improve its offering in 2023 by integrating personal banking services with corporate finance, investment banking, and other complementary services. This integration will enhance support for entrepreneurs, and drive the transformation and growth of their businesses. In addition, CMB Private Banking’s commitment to sustainable finance will see it establish a robust ESG investment sector.

Finally, we believe in giving back to the community and will ramp up our charitable efforts, channelling wealth towards meaningful causes and contributing to a more prosperous and equitable society.

What we said...

While 2022 was undoubtedly one of the toughest operating environments seen in decades for any private bank in the world’s second-largest economy, China Merchants Bank Private Banking delivered on its mission to transform and upgrade its service offering — helping it to stand head and shoulders above the competition, said Twinkle Sparta, senior reporter, Asian Private Banker, and member of the Awards for Distinction judging panel.

Asian Private Banker would like to congratulate everyone at China Merchants Bank Private Banking on their latest success at the 12th Awards for Distinction, in the category for Best Domestic Private Bank – China

Robert Fuh CEO, private bank Cathay United Bank

Best Domestic Private Bank – Taiwan

What they said...

We are deeply honoured to be awarded the Best Domestic Private BankTaiwan for the fourth consecutive year.

Mitigating the impact of geopolitical and economic uncertainty on clients’ assets became our top priority in 2022. Our solid cross-regional platform and diversified portfolio strategies create values for clients, resulting in steady AUM growth and high double digit YoY profit growth.

We are confident that through solutions aligned with clients’ long-term financial objectives, we can navigate uncertainty in the years ahead.

What was behind the judges’ decision?

• In a year characterised by market volatility, Cathay United Bank delivered a muscular performance across key business metrics, including revenue, net profit, cost-to-income ratio and client accounts. This in part underlines the success of Cathay United Bank in increasing its focus on recurring streams of income and investment-advisory, while ensuring that its sales force remains aligned with clients’ investment objectives and best interests

• The bank made key improvements to its technological infrastructure. In onshore Taiwan and Cathay United Bank’s offshore hubs in Hong Kong and Singapore, the deployment of Avaloq’s core banking system resulted in enhanced e-banking capabilities, including better visibility over past transactions and real-time client portfolio information

• Cathay United Bank ramped up its alternative investment capabilities during the period under consideration. This was achieved in part by taking advantage of the broader reach and greater resources of the Cathay United Group and in part by collaborating with some of the world’s leading third-party providers, including across best-of-breed private equity, private credit and REIT products

What we said...

Once again at Asian Private Banker’s Awards for Distinction, Cathay United Bank has demonstrated its unmatched capability to deliver sustained value for clients, despite underlying market volatility, said Twinkle Sparta, senior reporter, Asian Private Banker, and member of the judging panel for the Awards for Distinction.

Cathay United Bank’s victory in the prestigious category of Best Domestic Private Bank – Taiwan is an acknowledgement of its track record in delivering effective wealth building for clients.

Best Domestic Private Bank – Australia

Congratulations to

What was behind the judges’ decision?

• NAB Private Wealth enjoyed strong growth in both AUM and net new assets during the period under consideration, with a particularly notable rise in deposits and home lending. That result was in part due to the acquisition of Citi’s wealth business in Australia, but also highlighted how NAB Private Wealth’s strategy of providing highly personalised and tailored investment advice and solutions is resonating with the country’s U/HNWI community

• NAB has more closely integrated private wealth and business banking via its new ‘Team of 4’ model, which consists of specialists in personalised lending, investment, advice and business banking to better serve the sometimes competing interests of Australia entrepreneurs across private wealth and corporate banking

• During the period under consideration, NAB Private Wealth considerably expanded its value-proposition in terms of philanthropy and ESG. Milestones included the launch of an innovative suite of ESG-focused ETFs alongside BlackRock, as well as a strategic alliance with Lombard Odier

Michael Saadie executive, NAB Private Wealth

CEO, JBWere

What they said...

I’m incredibly proud that NAB Private Wealth has been honoured for the second year in a row for its outstanding leadership, performance and client service.

Of course, our priority is to continue focusing on the most important thing of all – delivering for clients.

What we said...

Since winning the prestigious Best Domestic Private Bank – Australia accolade at the 2021 Asian Private Banker 11th Awards for Distinction, NAB Private Wealth has consolidated its position in Australia’s wealth industry, while expanding on its already market-leading proposition. The proof of this can be seen in its rising wallet share, client count and funds under management, said Carly Lau, reporter, Asian Private Banker, and member of the judging panel.

Asian Private Banker would like to congratulate everyone at NAB Private Wealth on their richly deserved success at the 12th Awards for Distinction, the region’s leading private banking awards programme.

Narit Kosalathip head of Wealth Management

Kiatnakin Phatra Securities PCL

Best Domestic Private Bank – Thailand

What they said...

Our journey in wealth management started 23 years ago with the Philosophy of Wealth as our core belief. It began with the understanding that true wealth is not just about money. You are rich if you are not fearful about what the future holds. This simple idea has guided our strategy and resource allocation to achieve one plain goal — making ourselves valuable and relevant to every life-critical moment of the client.

In extremely challenging times — such as in 2022 — having a clear purpose helped us focus on what matters most: making sure that clients are not fearful of the economic fallout, the energy and food price shocks, the uncomfortably high inflation levels, geopolitics or any other nightmare scenario that could unfold.

What was behind the judges’ decision?

• Despite tough underlying market conditions, Kiatnakin Phatra Securities grew its AUM by high single-digit figures during the period under consideration and garnered a significant volume of net new money from its HNW clients. In the view of the judging panel, this is indicative of the trust that clients place in the bank to protect their wealth and generate value

• In 2022, Kiatnakin Phatra Securities showed an impressive capacity to innovate and adapt to turbulent market conditions through its product offerings. For example, the penetration of principal-protected and twin-win structured products in the client base dramatically increased during the period under consideration. Similarly, the bank was successful in carving out a differentiated offering in private markets such as growth technology and real estate which resonated with local clients

• Capitalising on rising demand for wealth planning and family offices in Thailand’s onshore market, Kiatnakin Phatra Securities managed to capture a considerable slice of this business in 2022. In the view of the judging panel, this is partly down to the bank’s astute marketing and educational efforts, such as holding dedicated programmes on next-gen and succession planning

Trust is a short but intricate word. To gain trust in the world of private banking requires more than a decent platform, good products and able people. Gaining trust is a long-term journey, conditional on consistency, and the quality of end-to-end relationships with clients.

This award is a testament to the fact we can be a bank that clients can depend upon, especially during uncertain times. Our resilient performance and strong momentum with clients over the past year reassure us that our Philosophy of Wealth is timeless and effective for the years to come.

What we said...

Volatile market conditions could do little to knock Kiatnakin Phatra Securities off its perch as the undisputed, number one domestic player in Thailand’s onshore wealth market. During the period under consideration for the 12th Awards for Distinction, the Bangkok-based private bank showcased its capacity for innovation in investment products, client service, wealth planning and ESG, said Carly Lau, reporter, Asian Private Banker, and member of the judging panel.

In short, Kiatnakin Phatra Securities demonstrated beyond doubt its excellence as a fully fledged end-to-end provider of holistic wealth solutions. The bank is a worthy winner of Asian Private Banker’s accolade for Best Domestic Private Bank – Thailand

Albert S. Yeo president BDO Private Bank

Best Domestic Private Bank – Philippines

What they said...

At BDO Private Bank, the commitment to clients has always been of utmost importance, especially in providing timely investment advice.

For instance, prior to the start of 2022, we recommended that clients keep their portfolio in short-duration instruments, in view of the anticipated hike in interest rates caused by rising inflation. With this advice, client portfolios were not greatly marked down. In fact, we increased the total AUM by 4% in 2022 thanks to new contributions.

What was behind the judges’ decision?

• Despite volatile underlying market conditions, BDO Private Bank registered a commendable growth in trust AUM and revenue during the period under consideration. In the view of the judging panel, that demonstrates BDO Private Bank’s success in maintaining high levels of liquidity to meet clients’ ongoing demand for credit

• Responding to the increasingly global and diversified business interests and needs of U/HNWIs in the Philippines, BDO Private Bank has ramped up its product suite, offering a wider array of offshore investments, and of both wealth planning and philanthropic solutions

• The bank articulated a clear roadmap for the development of its capabilities across offshore investments, wealth planning and digital tools for clients. Meanwhile, the lender has meaningfully beefed up client outreach and content across webinars and other key client channels

What we said...

BDO Private Bank has remained resolute in its mission to better preserve and enhance the wealth of U/HNWIs in the Philippines, and this has convinced Asian Private Banker that the bank deserves to receive the prestigious accolade of Best Domestic Private Bank – Philippines at the 12th Awards for Distinction, said Carly Lau, reporter, Asian Private Banker, and member of the judging panel. We would like to congratulate everyone at BDO Private Bank on their richly deserved success in this category.

Congratulations to

Best Domestic Private Bank – India

Alok Saigal president and head Nuvama Private (formerly:

Edelweiss Financial Services)

What they said...

We are honoured to be named as Asian Private Banker’s Best Domestic Private Bank – India. This is the third time we are being acknowledged for our sustained endeavour towards building a client-centric wealth management platform backed by high quality advice and a profoundly talented team.

We would like to thank clients for their unwavering support evidenced by their trust and encouragement.

What was behind the judges’ decision?

• Reflecting the turmoil in public markets during the period under consideration, Nuvama Private built out and raised funds for its alternative investment offerings, including but not limited to pre-IPO equity, venture debt, distressed assets and low beta, and long-short hedge funds. Such offerings helped contribute to a sizeable increase in AUM and net new assets during the period under consideration

• Significant enhancements to both client experience and digital offerings have had a tangible result on operations at Nuvama Private. For example, client account openings which used to take three to five days can now be achieved in around one day, thanks to the expanded role of digitalisation in onboarding. Today, more than 70% of client transactions at Nuvama Private are executed digitally.

• Nuvama Private has been able to more holistically serve the requirements of its increasingly global client base by expanding its shelf of offshore products, such as through its partnership with Bank of Singapore

What we said...

In India’s fast-growing wealth market, Nuvama Private has stayed ahead of the curve by delivering best-in-class products and services to clients, as well as capitalising on new opportunities and trends when they arise — ranging from alternative investment solutions to new digital tools for clients, said Daniel Shane, editor of Asian Private Banker.

Asian Private Banker would like to congratulate everyone at Nuvama Private on their richly deserved success in the category of Best Domestic Private Bank - India, at the 12th Awards for Distinction, the region’s most prestigious industry awards programme.

Congratulations to

Best Domestic Independent Wealth Manager – India

Congratulations to

What was behind the judges’ decision?

• During the period under consideration, Avendus Wealth Management markedly grew client AUM, added a substantial number of U/HNWIs as clients, and raised an impressive amount of capital for funds and private placements. Additionally and remarkably for India’s wealth management sector about half of AUM is in discretionary mandates, ensuring more predictable and recurring revenue streams

• In 2022, Avendus Wealth Management launched one of the most ambitious and comprehensive mobile apps for clients and internal stakeholders in the local market. Among the services offered by Avendus Wealth App are detailed portfolio analytics, investment ideas and recommendations, as well as thought leadership

• Avendus Wealth Management has greatly increased collaboration across the Avendus group, boosting its overall ‘one-bank’ proposition. This had a direct impact on client acquisition, with Avendus Wealth Management enjoying a strong number of referrals from the investment bank

Nitin Singh MD & CEO Avendus Wealth Management

What they said...

It is a matter of great pride for us to be recognised as the Best Domestic Independent Wealth Manager – India at Asian Private Banker’s 12th Awards for Distinction, for the third consecutive year! We owe this to the trust that clients have placed in us and to the holistic approach of our insights-based and expertise-driven platform.

Within our ecosystem, we have built a formidable practice that, we believe, fulfils the ever-evolving requirements of the current and future needs of UHNWIs, large family offices and corporate treasuries. We have grown from strength to strength on the back of a sharp client focus and bespoke solutions. We remain committed to leading with exceptional ideas through innovative offerings and through insights that are ahead of the curve. Our “client first” approach has allowed us to foster deep engaging relationships.

On behalf of the entire team at Avendus Wealth Management, I would like once again to thank Asian Private Banker for this recognition.

What we said...

Avendus Wealth Management went from strength to strength in 2022, as it solidified its position at the top of India’s wealth tree with significant enhancements to its product suite, market-leading alternative investment propositions, digital offerings and superior client service levels, said Daniel Shane, editor of Asian Private Banker.

For all those reasons and more, Asian Private Banker is proud to once again hand Avendus Wealth Management the accolade for Best Domestic Independent Wealth Manager – India at the 12th Awards for Distinction, the region’s premier private banking awards programme.

Investments & Content Awards

Best International Private Bank –CIO Office

Congratulations to

What they said...

We appreciate the recognition by Asian Private Banker of our efforts to support clients over the past year, particularly in terms of delivering performance, content, and engagement of the highest quality. What was behind the judges’ decision?

• While 2022 was undoubtedly tough, Credit Suisse again proved its ability to add alpha for its wealth clients in the region, with its sectoral calls (on energy, for example) and asset classes (increasing exposure to hedge funds), helping to generate outperformance on its strategic and tactical asset allocations

• The bank reinforced its market-leading commitment to client engagement something that is essential during sell-offs. Woods and his team conducted thousands of direct client outreaches, internal events, media appearances, webinars and podcasts during the period under consideration

• Despite the volatile market conditions, Credit Suisse demonstrated an appetite for innovation where appropriate. For example, the bank now offers a bespoke, endowment-style strategic asset allocation for select UHNW clients. These strategies are optimised for higher exposure to alternative asset classes and have received positive client feedback so far

• Credit Suisse’s CIO function in the region has been making significant contributions in terms of ESG and sustainable investing. In addition to a broad array of in-house funds focused on the sustainability theme, the bank offers 14 sustainable mandate solutions to clients in the region

• In the view of the judging panel, the bank offers the highest quality and most engaging content to clients in the industry. One of the latest examples of this was the Credit Suisse Single Family Office Index, providing a benchmark for SFO asset allocation strategies in Asia-Pacific and elsewhere. Another report, The Global Effects of Asia’s Ageing Population, showcased Credit Suisse’s unrivalled research capabilities in pertinent regional themes

What we said...

For the fourth year in a row, Credit Suisse’s CIO office in Asia-Pacific has stood head and shoulder above the competition in terms of performance, content, engagement – and ultimately client confidence, said Daniel Shane, editor of Asian Private Banker.

Under the astute and inspirational guidance of regional CIO John Woods, the Swiss bank’s strategic and tactical asset allocation calls in 2022 helped its clients navigate treacherous conditions in the public markets. That was coupled with beefed up client outreach, industry-leading content and a willingness to innovate in Credit Suisse’s strategic asset allocation. For these reasons and more, Credit Suisse is once again a worthy winner of Asian Private Banker’s Best International Private Bank – CIO Office at the 12th Awards for Distinction.

John Woods CIO, Asia Pacific Credit Suisse

Best Domestic Private Bank – CIO Office

Sornchai Suneta executive vicepresident & head of

the Investment Office and Product Function and Chief Investment Office

Siam Commercial Bank Public Company Limited

What they said...

We are delighted to win three Awards for Distinction from Asian Private Banker for 2022: Best Domestic Private Bank – CIO Office; Best Domestic Private Bank – Discretionary Portfolio Management; and Best Domestic Private Bank – Digital Innovation and Services. The recognition reflects the calibre and dedication of our team members who provided clients with the very best services in a year that was marked by unexpected events, market volatility and uncertainty. We are determined to sustain our best efforts towards serving clients.

What was behind the judges’ decision?

• SCB’s CIO office works closely with in-house experts and third-party providers to bring clients appropriate investment solutions. One example of this that impressed the judging panel was the bank’s Alpha Fund mandate. This concentrated portfolio of sevento-15 stocks offers a high potential of risk-adjusted returns over the long term. The solution, which is guided by the CIO office, has provided significant outperformance over time

• Across both strategic and tactical asset allocation, SCB’s CIO office has provided its clients with meaningful alpha across both short- and long-term investment horizons

• Emphasising ESG and sustainability, the bank’s CIO office integrates considerations such as climate change impact, inequality, and environmental footprint reduction in its asset allocation and products. SCB has around 80 ESG focused funds on its shelf

What we said...

SCB has placed the CIO office at the heart of everything it does when advising clients on investments. From the formulation of investment strategies, to product origination and sourcing, the CIO function is integral to the Thai bank’s proposition to clients — and ensures SCB is leading where its peers are following in Thailand’s fiercely competitive onshore market, said Carly Lau, reporter, Asian Private Banker, and member of Awards for Distinction judging panel.

For all these reasons and more, Asian Private Banker is proud to hand SCB its inaugural prize for Best Domestic Private Bank – CIO Office at the 12th Awards for Distinction.

Best International Private Bank –Discretionary Portfolio Management

Congratulations to

What was behind the judges’ decision?

• BNP Paribas Wealth Management in 2022 achieved a record high penetration in terms of DPM into its Asia-Pacific AUM as the business reported strong net inflows, despite an overall tumultuous markets backdrop. In the view of the judging panel, this reflects the bank’s ability to nimbly identify investment opportunities, hold clients’ hands during times of uncertainty, and innovate on the product front when appropriate

• In terms of innovation, BNP Paribas Wealth Management launched a Short Duration Bond Mandate during the period under review. The product identifies a market sweet spot, given that in addition to displaying defensive characteristics short duration yields have risen to compelling levels in the last 12 months. The mandate has already received considerable inflows from regional clientele

• The bank has worked actively to bring more DPM offerings to not just the UHNW client base, but also HNWIs. For example, its three-year activelymanaged certificates significantly lower the ticket price for discretionary mandates, while allowing for daily liquidity and asset allocation flexibility

• In key DPM offerings BNP Paribas Wealth Management was able to deliver resilient performance in 2022, reflecting the capabilities of its on-the-ground investment expertise in Asia-Pacific. For example, Bond Opportunity mandate markedly outperformed a number of peers, as well as most relevant benchmarks

Garth Bregman head of Investment

Services Asia

BNP Paribas Wealth Management

What they said...

We are honoured to receive this accolade, which reflects our commitment to providing clients with the best possible portfolio management services. The close relationship that the DPM team builds with clients, combined with its ability to customise solutions to their needs, is a great combination that is highly valued by clients. We remain committed to these relationships and providing a complete range of portfolio management services to assist clients in their asset allocation and investment journey.

What we said...

Despite an extremely challenging year for markets both regionally and globally, BNP Paribas Wealth Management in 2022 managed to deliver resilient performance for Asia-Pacific clients in terms of discretionary portfolio management. During this turbulent period, the bank stayed close to clients and hand-held them, achieved net inflows and demonstrated its continued capacity to innovate on the DPM front, regardless of the macroeconomic backdrop, said Daniel Shane, editor of Asian Private Banker

Asian Private Banker would like to congratulate everyone at BNP Paribas Wealth Management for its richly deserved success in the category of Best International Private Bank – Discretionary Portfolio Management at the 12th Awards for Distinction.

Best Domestic Private Bank –PortfolioDiscretionary Management

Sornchai Suneta executive vicepresident & head of the Investment Office and Product Function and Chief Investment Office Siam Commercial Bank Public Company Limited

What they said...

We are delighted to win three Awards for Distinction from Asian Private Banker for 2022: Best Domestic Private Bank – CIO Office; Best Domestic Private Bank – Discretionary Portfolio Management; and Best Domestic Private Bank – Digital Innovation and Services. The recognition reflects the calibre and dedication of our team members who provided clients with the very best services in a year that was marked by unexpected events, market volatility and uncertainty. We are determined to sustain our best efforts towards serving clients.

What was behind the judges’ decision?

• Benefiting from both in-house solutions and the Bangkok-based bank’s open architecture model, SCB Private Banking clients have benefited from the full gamut of mandates across equities, bonds and thematics.

• Among the offerings that most impressed the Awards for Distinction judging panel were the bank’s SCB Alpha fund, which has demonstrated a serious ability to generate outperformance.

• Also impressing the judging panel was its Quant DPM, which utilises artificial intelligence to optimise client investment portfolios.

What we said...

SCB’s victory in Asian Private Banker’s inaugural prize for Best Domestic Private Bank – Discretionary Portfolio Management is an acknowledgement of one of the most ambitious discretionary solutions currently available in an onshore market in Asia-Pacific, said Carly Lau, reporter, Asian Private Banker, and member of the Awards for Distinction judging panel.

As domestic markets grow in sophistication, SCB is leading the way in terms of differentiated discretionary offerings. Asian Private Banker would like to congratulate everyone at SCB on their success in the 12th Awards for Distinction.

Best Private Bank –Investment Advisory

Garth Bregman head of Investment

Services Asia

BNP Paribas Wealth Management

What they said...

We are delighted to win this award for Best Private Bank – Investment Advisory for a third consecutive year. And winning for 2022 — a year of synchronised bear markets in stocks and bonds — is an especially deep recognition of how closely aligned our investment offering is with the needs of clients, not only in good times, but also when times are tough.

All the investment services teams worked tirelessly last year to ensure clients received the best investment advice — whether at asset allocation, portfolio, asset class, or instrument level. Our teams never stopped innovating throughout the year, generating significant interest in new solutions focused on helping clients navigate a challenging investment environment.

What was behind the judges’ decision?

• The judging panel is of the view that in Asia-Pacific, BNP Paribas Wealth Management provides one of the most comprehensive, all-encompassing range of solutions and services across asset classes, as well as advisory and discretionary mandates

• The bank was able to demonstrate to the judging panel how it effectively utilises the capabilities of the wider BNP Paribas group in terms of investments, advice and execution. Examples of this include research and liquidity from the investment bank; structured products across relevant and tailored equity themes; and a substantial number of trading counterparties to ensure competitive pricing and access to new trading ideas

• In the opinion of the judging panel, BNP Paribas Wealth Management leads the way in terms of penetration of ESG assets in its regional client base. The vast majority of its assets in Asia-Pacific have now been given an ESG score using its robust methodology, which comprises third-party data, internal research, and direct issuer engagement

What we said...

BNP Paribas Wealth Management offers best-in-class advisory and execution capabilities, no matter the asset class: equities, FX, fixed income or structured products. Whether sourcing investment ideas and themes from investment bank research, using an open architecture for pricing and execution, or providing access to liquidity — BNP Paribas Wealth Management does it all and, more importantly, does it well, said Daniel Shane, editor of Asian Private Banker

Once again, Asian Private Banker is proud to hand BNP Paribas Wealth Management the prize of Best Private Bank – Investment Advisory at the 12th Awards for Distinction.

Best Private Bank –Fund Advisory

Congratulations to

What was behind the judges’ decision?

• In terms of assembling a product shelf designed for a period of rising interest rates, soaring inflation, supply chain pressure, geopolitical tensions and – ultimately – tumbling markets that few in the industry predicted, Morgan Stanley Private Wealth Management Asia has few peers. Among the top themes that guided the fund suite in 2022 were inflationary commodities, liquid alternatives and defensive equities. As a result, few could match the Wall Street bank in fund recommendations for protecting clients’ capital during these uncertain times

• In 2022, Morgan Stanley Private Wealth Management Asia added substantial resources to its on-the-ground product due diligence team, bulking this up to four individuals, to ensure the robustness, independence and efficiency of the way in which the bank scrutinises and on-boards funds. The lender has expanded its product specialist team across Hong Kong and Singapore to better help clients navigate fund choices

• The bank demonstrated its strong capacity to innovate on the funds side, despite tough market conditions. Its Advisory Portfolio Management service, which launched in 2022, provides customised fund solutions for clients around certain themes. The bank’s new omnibus account service has simplified the trading of hedge funds on the platform

• Across key metrics on the fund advisory business, Morgan Stanley Private Wealth Management Asia was a standout in 2022, despite a sell-off across most major asset classes. The bank still drew significant inflows from clients during the period and maintained a high rate of penetration in terms of AUM

Nathan Lim co-head of Investment Management Services

Morgan Stanley Private Wealth Management Asia

What they said...

We are honoured to be awarded Best Private Bank – Fund Advisory.

2022 was one of the most challenging years for investors of this generation, marked by multi-polar responses to the COVID-19 pandemic, inflation and monetary policy. This environment highlighted the importance of portfolio diversification, investment management expertise and professional advice.

With a view to offering better choices and better protections for its UHNW clients, Morgan Stanley Private Wealth Management Asia focused on its high-conviction shelf of funds and strengthened its independent manager due diligence resources.

Because advice has shown itself to be one of the most effective risk mitigants over the longer term, fund advisory solutions took centre stage, with portfolios designed to manage cash or to balance exposures becoming increasingly desirable.

We keep investing in the funds advisory platform to provide UHNW clients with first-class fund resources that meet their long-term wealth objectives.

What we said...

Using its success in last year’s category for Best Private Bank – Fund Advisory as a foundation, Morgan Stanley Private Wealth Management Asia has built out and enhanced what was already an extremely strong funds proposition, said Daniel Shane, editor, Asian Private Banker. For the Wall Street bank, it is not simply a question of the quantity of funds on its platform, but their quality and conviction, and how they are directly addressing the needs of what is a highly sophisticated and demanding client base. Once again, Morgan Stanley Private Wealth Management Asia has proved beyond doubt why it is the trusted funds partner for the region’s wealthiest individual and family office clients.

Considering these points, Asian Private Banker would like to congratulate everyone at Morgan Stanley Private Wealth Management Asia on their richly-deserved success at the 12th Awards for Distinction, the region’s top private banking awards programme.

Emmanuel Triomphe head of WM Markets Solutions APAC

Credit Suisse

Best Private Bank –Equity Advisory

What they said...

Receiving this award for the second year in a row is an honour as well as a stamp of approval to our sustained effort in providing the best-in-class equity advisory service to clients. Our client-centric communication model is the core belief that drives us to create value to clients in all market environments.

Our experienced team of equity advisors helped clients reduce exposure and hedge the portfolio during challenging conditions, and made active investment advice. Through our tailor-made solutions and timely market updates, we have been — and will continue to be — clients’ trusted investment partner. What was behind the judges’ decision?

• During the period under consideration, Credit Suisse made several bold equity market calls that turned out to be extremely prescient, generating significant outperformance for clients. These included warning of the risks of war in Europe in January 2022 and urging clients to buy energy-related names as a result. In May, the bank told clients to buy a two-month, fixedcoupon note tied to Chinese tech names, which ultimately generated a 40% annualised yield

• Because of the challenging market conditions for long positions in 2022, Credit Suisse demonstrated a strong willingness to innovate in derivatives and hedging ideas. For example, the bank traded a substantial notional value in bearish decumulators and twin-win products (which allow clients to benefit from downside but also to a certain extent any upside) during the period under consideration for the Awards for Distinction. In addition, Credit Suisse’s market-leading trading platform allowed clients to enjoy fast pricing quotations, swift execution and competitive pricing

• While Credit Suisse’s equity advisory in Asia-Pacific business suffered a decline in overall revenues amid market volatility, in relative terms its performance in this regard was one of the stronger among private banks in the region. In addition, its hit rate for equity ideas (i.e. the proportion of those with a positive return after 12 months) was one of the best in Asia-Pacific

What we said...

In periods of pronounced equity market volatility like we experienced in 2022, wealth clients rely on timely and adroit advice more than ever. And it was in this regard that Credit Suisse’s equity advisory really came into its own. Clients of the Swiss bank benefit from the best equity research from both the investment bank and wealth management, as well as Credit Suisse’s CIO House View, said Daniel Shane, editor, Asian Private Banker. In addition to maintaining the high levels of client service the bank is known for through its direct access desk, Credit Suisse achieved one of the highest hit rates for its ideas during the period under consideration for the Awards for Distinction.

For these reasons, Asian Private Banker would like to congratulate everyone at Credit Suisse on their success in the category of Best Private Bank – Equity Advisory

Best Private Bank –Fixed Income Advisory

Shafali Sachdev head of FX, Fixed Income and Commodities Asia BNP Paribas Wealth Management

What they said...

We are delighted to receive this award, which reflects our efforts in finding the right solutions to address client needs. In an extremely challenging environment for fixed income, we completely revamped our strategy and offering in 2022 and focused on an integrated approach across cash and synthetic fixed income solutions. This approach helped clients navigate market uncertainty and stay ahead, despite the headwinds. As a result of our differentiated approach, we helped achieve spectacular results for both clients and our business.

What was behind the judges’ decision?

• Despite the rising interest rate environment, BNP Paribas Wealth Management recorded a significant increase in revenues derived from its fixed income business in Asia-Pacific. That was a direct result of the bank’s focus on offering structured fixed income solutions to its regional client base, such as short-duration credit-linked notes, which provide higher margin for the bank and more downside protection for clients

• In 2022, the bank routinely demonstrated its ability to present lucrative tactical opportunities to its client base. Event-driven calls included Keppel’s takeover of Singapore Press Holdings, providing 3.85% outperformance over a short period, and a six-month access note linked to Korea Development Bank, offering a yield pickup of 0.55% per annum

• Drawing on the strength of the groupwide capabilities of BNP Paribas, the wealth manager improved its research capabilities in the fixed income universe, including faster time-to-market for updates on key issuers. Notably, the bank shifted clients’ fixed income AUM further towards those names with higher ESG ratings, compared to 12 months ago

What we said...

While many wealth clients in the region retreated from bonds in 2022 due to the rising interest rate environment, BNP Paribas Wealth Management increased revenues in its fixed income advisory as it generated major income opportunities for clients, said Daniel Shane, editor, Asian Private Banker

That is a reflection of BNP Paribas Wealth Management’s astute decision to redirect its regional fixed income business towards structured solutions. For this reason, BNP Paribas WM was the clear winner of our award for Best Private Bank – Fixed Income Advisory at the 12th Awards for Distinction.

Emmanuel Triomphe head of WM Markets Solutions APAC

Credit Suisse

Best Private Bank –FX Advisory

What they said...

We are elated to receive this award as a testament to the strength of our best-in-class FX advisory service.

We have built solid relationships across all client segments within the franchise on the back of a commitment to offer personalised solutions, actionable investment advice and seamless execution.

Our mantra has always been to place client needs above all else. This will remain our guide and motivation to improve our service offerings and platform capabilities.

The macro landscape is ever changing and our team of FX advisors stands ready to be that beacon that helps clients navigate the risk and opportunities.

What was behind the judges’ decision?

• Credit Suisse’s FX advisory business turned in an impressive performance during the period under consideration across several key metrics, including revenue growth, direct access revenue contribution, and notional trading value. In the view of the Awards for Distinction judging panel, this reflects the bank’s strength in providing opportunistic products and trading ideas despite tough underlying market conditions, as well as its capabilities in communicating these ideas to clients in an effective and timely manner

• In 2022, Credit Suisse substantially enhanced its already marketleading FX execution capabilities in the region, including adding more trading counterparties to its in-house aggregation platform and reducing the number of clicks from pricing an FX trade to providing a disclosure template to clients. Under its best execution obligation, the bank provides FX clients with a minimum of three quotes from counterparties

• Credit Suisse has made strong efforts to upskill its RMs in educating clients on the reasons for having FX in their portfolio. Initiatives include an FX buddy programme that provides RMs with access to weekly conference calls and in-depth portfolio analysis, as well as an FX masterclass

What we said...

Across platforms, idea generation and execution, Credit Suisse’s FX advisory proved that it was without parallel in the region’s private banking industry in 2022, said Daniel Shane, editor, Asian Private Banker. While efforts to improve an already market-leading proposition were numerous, among those that impressed the Awards for Distinction judging panel were efforts to upskill RMs and streamline pricing and execution — and that is not mentioning the quantity and quality of successful trading ideas which the bank generated for clients over the last 12 months.

For these reasons and more, we are pleased to hand Credit Suisse the accolade of Best Private Bank – FX Advisory at the 12th Awards for Distinction.

Best Private Bank –Alternative Advisory

What was behind the judges’ decision?

• The penetration rate of alternative investment products into Morgan Stanley Private Wealth Management Asia remains one of the highest the judging panel has seen across the region’s private banks. This, we believe, reflects the differentiated nature of the bank’s alternative proposition, as well as its success in engaging with its sophisticated and entrepreneurial clientele in terms of how these products should be positioned in portfolios

• Against a backdrop where most major wealth players in Asia-Pacific are seeking to expand their alternative product shelf, Morgan Stanley Private Wealth Management Asia stands out in terms of its differentiated offering. The bank has built a suite of solutions that is almost perfectly matched for the current macro backdrop including asset-backed income with inflation hedging, market neutral and relative value hedge funds, and structurally disruptive themes in private equity

• In 2022, Morgan Stanley Private Wealth Management Asia added substantial resources to its on-the-ground product due diligence team, strengthening it to four individuals, so as to ensure the robustness, independence and efficiency of the way in which the bank scrutinises and on-boards alternative products. The lender has equally beefed up its product specialist team across Hong Kong and Singapore to better help clients navigate fund choices

• The bank demonstrated its strong capacity to innovate on the funds side as well, despite tough market conditions. Its Advisory Portfolio Management service, which launched in 2022, provides customised fund solutions to clients around certain themes. The bank’s new omnibus account service has simplified the trading of hedge funds on the platform

Christina Au-Yeung co-head of Investment Management Services

Morgan Stanley Private Wealth Management Asia

What they said...

We are honoured to be awarded Best Private Bank – Alternative Advisory.

Marked by multi-polar responses to the COVID-19 pandemic, inflation and monetary policy, 2022 was one of the most challenging years for investors of this generation. This environment directed investor attentions to risk-adjusted return objectives and opportunities for alpha return streams.

Morgan Stanley Private Wealth Management Asia was proud to deliver a rich suite of alternative investment solutions to its UHNW clients, offering institutional-level access to in-house private market capabilities as well as first-class alternative investment manager partners, globally and locally.

Our advisory effort aims to traverse the fantastic industry developments that are enabling access to alternative investment opportunities, with a healthy risk-conscious mindset and an emphasis on product education and appropriate positioning.

We continue to invest in the alternatives advisory platform to provide UHNW clients with excellent alternative investment resources that meet theirlongterm wealth objectives.

What we said...

Against a backdrop of macro-economic uncertainty and tumbling equity and bond markets, it has come as no surprise that major private banks in Asia-Pacific have sought to build out their suite of less correlated, alternative solutions. Few, however, have gone about the process in such as focused and diligent manner as Morgan Stanley Private Wealth Management Asia, said Daniel Shane, editor of Asian Private Banker

Across semi-liquids, private equity and hedge funds, the bank has focused on onboarding and offering to its discerning and sophisticated client base the most differentiated alternative offerings. Looking at the impressive rates of penetration and inflows seen into this business in 2022, that strategy has clearly worked. Asian Private Banker is proud to award Morgan Stanley Private Wealth Management Asia the accolade of Best Private Bank – Alternative Advisory at the 12th Awards for Distinction.

Best Private Bank –Credit Advisory

Jyrki Rauhio regional head of Credit Advisory, Asia

Pacific HSBC Global Private Banking

What they said...

We are honoured to receive Best Private Bank – Credit Advisory, for the third consecutive year. At the heart of our credit advisory platform is our client-centric focus and we endeavour to provide insightful, customised, and market-relevant credit advisory services to clients.

Our credit advisory team has an intuitive understanding of client needs as our advisors work closely with the relationship managers to comprehend their financial circumstances and analyse their current debt structures. The result is an efficient and sustainable approach to leverage which is integrated into their long-term investment strategy. This award demonstrates our commitment to developing and expanding our credit advisory platform with more exclusive, best-in-class and tailored solutions that best fit clients’ needs.

What was behind the judges’ decision?

• During the period under consideration, HSBC GPB has successfully tilted the balance of its lending book away from more commoditised Lombard lending to higher margin structured financing, resulting in higher loan spreads in both Hong Kong and Singapore

• Defying the intense market volatility seen in both global and regional markets in 2022 that has led to substantially higher instances of margin calls, HSBC GPB continued its impressive record of suffering zero credit losses in Asia-Pacific since 2017

• The bank’s willingness to continue providing credit to clients during 2022, while maintaining prudent risk measures, was directly linked to a significant haul of net new money during the period under consideration, according to figures shared with Asian Private Banker’s judging panel

• HSBC GPB significantly expanded and enhanced its credit platform in a number of key areas in 2022, including lending to general partners against illiquid stakes in private equity and hedge funds; lending against illiquid stocks; and jumbo single stock financing

What we said...

Given the difficult underlying market conditions, it would have been understandable if HSBC GPB throttled its credit operations and instead focused on client deleveraging. However, that emphatically was not the case in 2022, as the bank continued to deliver customised financing solutions to its U/HNWIs while maintaining prudent risk measures, said Daniel Shane, editor, Asian Private Banker. In addition to its sharp focus on growing its higher margin structured loan book, HSBC GPB also demonstrated an impressive appetite for innovation on the credit front, evident in offerings such as luxury yacht and art financing.

For these reasons, Asian Private Banker is proud to once again give HSBC GPB the prize for Best Private Bank - Credit Advisory at the Awards for Distinction, the region’s premier industry awards programme.

Best Private Bank –Sustainable Investments

Eleonore

Dachicourt

head of Sustainable & Responsible Investments Asia BNP Paribas Wealth Management

What they said...

We are delighted to receive this recognition for the second consecutive year as it reaffirms our efforts to help accelerate clients’ transition to a low-carbon economy. At BNP Paribas Wealth Management, we share a strong commitment to bringing about a positive impact through the way we do business and the way we engage with clients to provide them with solutions tailored to their needs and goals — including sustainable investments,impact investing, and philanthropy.

What was behind the judges’ decision?

• On the product side, BNP Paribas Wealth Management has been building on what was already an impressive offering. In the region, the bank offers customised sustainable solutions, a global high quality ESG stock basket, sustainable investment-themed discretionary portfolio management, Socially Responsible Investing (SRI) private equity funds, and its MyAdvisory Sustainable Service a tailored portfolio that infuses its contractual advisory service with sustainable development goals

• Few banks do it better in terms of active engagement with clients on ESG and sustainability matters. In 2022, BNP Paribas Wealth Management’s Green Carpet Days provided clients with tailored, hands-on workshops on themes such as energy transition, while the bank organised webinars with the likes of KKR on sustainability-related topics

• BNP Paribas Wealth Management demonstrated to the judging panel how it is improving the way it works hand-inhand with clients to identify sustainability goals. During the period under consideration, the bank has been refining its MyImpact questionnaire, which seeks to identify a client’s specific sustainability goals and propose appropriate solutions

What we said...

In a year when global markets were pummelled by rising inflation and energy geopolitics, it would perhaps be understandable for private banks to temporarily put the sustainable agenda to one side. For BNP Paribas Wealth Management in Asia-Pacific, however, this was emphatically not the case. The bank is decisively moving forward with its ambitious 2025 Plan on Sustainability, which focuses on re-aligning portfolios, boosting client engagement and providing the best tools to reach its environmental goals, said Daniel Shane, editor of Asian Private Banker

From a regional perspective, BNP Paribas Wealth Management has substantially enhanced ESG screening of investments, philanthropy initiatives and overall solutions aimed at ensuring that it keeps driving the sustainability agenda. For these reasons and more, Asian Private Banker is proud to name BNP Paribas Wealth Management the winner of the category Best Private Bank – Sustainable Investments at the 12th Awards for Distinction.

Service Awards

Best Private Bank –Client Experience

June Yong regional head of Client Service Executive HSBC Global Private Banking

What they said...

At HSBC Global Private Banking, the commitment we make to clients is central to what we do. We constantly seek to listen and understand their needs to provide them with the best possible level of service.

What was behind the judges’ decision?

• During the period under consideration, HSBC GPB substantially enhanced its client proposition with the launch of its Prism advisory services, backed by Blackrock’s Aladdin Wealth technology. The system empowers RMs to provide higher quality, more timely investment advice to clients by monitoring more than 3,000 risk factors daily

• Through its UHNW Masterclass series of virtual events in 2022, HSBC GPB RMs have been upskilled and better equipped to facilitate strategic conversations with this client segment, whether this be on private credit, family offices, or prime lending services

• HSBC GPB has taken considerable steps to ease the journey for clients from mass affluent to fully-fledged private banking services. For example, the bank has significantly cut the time to upgrade clients from its eligible retail banking service to GPB by enabling e-signature and paper-free onboarding, as well as extending more products across the wealth continuum. This has directly resulted in a major uptick in clients upgrading from mass affluent to GPB accounts

• During 2022, HSBC GPB’s digital capabilities were given a significant facelift. Among the additions to the digital offering during the period under consideration for the Awards for Distinction were online trading in funds and structured products, as well as sustainable investment contribution metrics

In 2022, we launched the Client Insights Program with the aim of developing actionable initiatives that will enhance our clients experience, underpinned by data points and what clients are telling us. Likewise, our digital strategy considers clients’ holistic end-to-end journey and blends innovative digital capabilities with our bankers’ expertise to suit the clients’ evolving financial needs.

The improvements in our client satisfaction and our business growth are testament to our client-centric approach, and we will continue to listen to the voice of clients and put their evolving needs at the centre of our ongoing transformation strategy.

What we said...

In once again winning Asian Private Banker’s Best Private Bank - Client Experience at our Awards for Distinction, HSBC Global Private Banking has demonstrated its unwavering commitment to understanding and catering to its individual clients’ needs and preferences, said Daniel Shane, editor of Asian Private Banker.

In order to ensure clients achieve the most rewarding outcome, the bank has deftly blended digital tools with human advice in a holistic, client-friendly manner. For this, the bank deserves profound recognition and everyone at Asian Private Banker congratulates the team at HSBC Global Private Banking for their success in this category for the second year running.

Best Private Bank –Wealth Planning Services

Wai Soon Lum head of Wealth Planning, Greater China UBS Global Wealth Management

What they said...

As wealth planners, we focus on understanding clients and their different family circumstances and needs. We work with them closely, as partners. This award affirms that we do that very well — on the back of our holistic one-bank capabilities and the delivery of bespoke solutions to clients in Asia.

I am proud of the way our team has helped clients achieve their wealth planning and philanthropic goals throughout the years.

What was behind the judges’ decision?

• UBS Global Wealth Management’s submission to the Awards for Distinction drew a clear line from its wealth planning offering to tangible positive business outcomes, including new client onboardings, net new money, and revenues from third-party service providers

• In terms of philanthropy, UBS Global Wealth Management was able to outline to the judging panel the full capabilities of its end-to-end offering, from strategy and structure to execution, which is not currently matched by its peers in the market. Notably, the UBS Optimus Foundation has been recognised by Chinese regulators for its work in mainland China, making it one of only four NGOs to have received this status

• UBS Global Wealth Management made a compelling case to the judging panel that its asset serving for family offices is the most competitive in the region ranging from electronic trading, to institutional custody, to multi-bank reporting, to private label funds

• The bank convincingly illustrated a number of client case studies that demonstrated its capabilities in all of the above points. In one such example, UBS Global Wealth Management outlined the full suite of wealth planning services it was able to provide to a Chinese entrepreneur emigrating to Singapore including asset protection and succession, setting up a single family office, a family governance mechanism, next gen development, a charitable foundation and a philanthropic strategy

Christina Tung head of Client Services, Greater China UBS Global Wealth Management

What they said...

As the world’s leading wealth manager, we help families perpetuate their family legacy across generations. Many clients are passionate philanthropists, and we are privileged to be in a role to help drive measurable impact together with clients. We would not have achieved this without their support.

What we said...

UBS Global Wealth Management’s success in Asian Private Banker’s Best Private Bank – Wealth Planning Services category is a reflection of the sheer breadth and depth of the Swiss universal bank’s offering. From succession planning, to trust, to legacy protection and philanthropy, UBS Global Wealth Management brings both passion and purpose to its wealth management offering, said Daniel Shane, editor of Asian Private Banker

For these reasons, Asian Private Banker would like to congratulate everyone at UBS Global Wealth Management on their richly deserved success at the 12th Awards for Distinction, the region’s premier investment banking awards programme.

Best Private Bank –Intermediary Services

Johnny Heng head of VP Bank Ltd Singapore branch VP Bank

What they said...

We are extremely proud of our heritage and our modus operandi in Financial Intermediaries (FIMs). This sector is at the core of our business, unique to VP Bank, where the FIMs contribute to more than 50% of the bank’s business globally. This is the result of our origin, and our clear and focused intent on recognising what intermediaries offer, the challenges within the sector, and addressing the myriad needs of our clients.

What was behind the judges’ decision?

• VP Bank has placed intermediaries at the heart of its business as part of its long-term strategy. Doing so is bearing fruit, according to key metrics shared with the judging panel, with this segment now contributing about half of revenue in Asia-Pacific

• The lender has demonstrated a strong capacity to innovate. Its blockchainbased art tokenisation product, launched late in 2021, gained traction and resonated with clients during the period under consideration for the Awards for Distinction

• Despite difficult underlying market conditions, 2022 was a strong year for VP Bank’s performance in terms of AUM growth and net new money. From an Asia perspective, the lender has added significant heft to its presence with the appointment of an industry veteran as regional CEO, as well as market heads in Singapore and Hong Kong and a new Asia management team

Reto Marx head of Hong Kong VP Bank

What they said...

We are delighted VP Bank has been named Best Private Bank –Intermediary Services. I believe we have achieved this through the hard work of our colleagues and the continued support of clients and partners. We are now in an even stronger position to expand our network and offer topnotch services for external asset managers, family offices, and trustees.

What we said...

Based on its expertise, know-how and market-leading infrastructure, VP Bank in 2022 proved that it is the trusted partner for intermediary clients across Asia-Pacific, said Daniel Shane, editor, Asian Private Banker. Featuring high-quality investment research and advice, a range of liquid and alternative solutions, and trust and estate planning, VP Bank has consistently boosted its wallet share among the region’s independent asset managers (IAMs), an increasingly important client segment for the industry.

Asian Private Banker would like to congratulate everyone at VP Bank on their success in the category of Best Private Bank – Intermediary Services at the 12th Awards for Distinction, the region’s premier industry awards programme.

Best Private Bank –Family Office Services

What was behind the judges’ decision?

• Despite a challenging underlying market environment, UBS Global Wealth Management managed to grow revenue derived from its ‘one bank’ proposition as well as net new fee generating assets from this division, thanks in part to the broad array of solutions and opportunities the bank was able to present to this client base

• Compared with 2021, UBS has substantially tightened the linkages and collaboration between wealth management, investment banking and asset management to bring better-than-ever opportunities and execution capabilities to family office clients. One of the best illustrations of this is the bank’s so-called Agile Market Pods, which optimise the delivery of one-bank solutions to clients by bringing together senior market specialists from across the UBS group from lending, to markets, to prime brokerage

• In terms of thought leadership and family office client engagement, UBS Global Wealth Management steadfastly provided market-leading insights and content. During 2022, the bank hosted family office events in Asia-Pacific with themes ranging from IT infrastructure and cybersecurity, to cryptocurrencies, to how to build an endowment-style portfolio

• During the submission process, UBS Global Wealth Management compellingly illustrated several major client case studies that highlighted how the bank is delivering full institutional solutions to family office clients, including one Hong Kong tycoon who was able to diversify from traditional sectors towards ESG and the new economy, while taking advantage of strategic M&A opportunities

co-head Global Family and Institutional Wealth (GFIW) APAC UBS Global Wealth Management

What they said...

UBS serves the largest families and family offices in APAC. Our goal is to be the ‘house bank’ for family offices in Asia as they are a strategic area of focus for us. What makes UBS unique is its strong alignment between the investment bank, asset management and GFIW team in APAC to deliver holistic offerings for the most sophisticated and institutionalised clients across the group’s integrated platform.

Tommy Leung co-head Global Family and Institutional Wealth (GFIW) APAC UBS Global Wealth Management

What they said...

The core to our strength is the trust and the close relationships that we have built with clients and their family office professionals over the years. 2022 was a significant year for us as we grew and expanded our global family and institutional wealth coverage model globally.

This award is an affirmation to the success of our unique one-bank model that provides clients the wealth management and institutional coverage, capabilities and opportunities they cannot get anywhere else.

What we said...

Global family and institutional wealth has long been a strategic focus for UBS Global Wealth Management, but 2022 was arguably the year when this proposition came into its own. With considerably expanded coverage over the last 12 months or so, UBS Global Wealth Management has staked its claim to be the ‘house bank’ for what are some of the world’s most demanding and discerning clients. With notable developments across coverage, opportunities and execution, UBS Global Wealth Management is providing a service that such clients cannot find elsewhere, said Daniel Shane, editor of Asian Private Banker. For these reasons and more, we are honoured to once again hand UBS Global Wealth Management the accolade for Best Private Bank – Family Office Services at the 12th Awards for Distinction, the region’s premier industry awards programme.

Best Private Bank –Next Generation Services

Congratulations to

What was behind the judges’ decision?

• BNP Paribas Wealth Management has built arguably the most formidable front office team in the region targeting the next generation of clients. These RMs have been armed with a comprehensive training programme that teaches them how to see the world from the perspective of a next-gen UHNWI in Asia-Pacific, how to build effective relationships with this demographic, and how to put all of these concepts into practice. So far, 90% of front office staff have completed the full complement of this training

• The bank demonstrated how it has effectively used digital technology to capture the business of next-gen clients. For example, its allocation designer tool which can run and assess customised strategic asset allocation scenarios in real-time has been used in several instances to persuade next-gen clients to dedicate a higher allocation of their portfolios to private markets

• During the submission process, BNP Paribas Global Wealth Management provided a number of compelling client case studies that highlighted its capabilities in next-gen focused services and products. These included capitalising on the group-wide capabilities of BNP Paribas to source direct investments in Web3- and sustainability- themed opportunities for next-gen clients

Anton Wong head of Taiwan Market BNP Paribas Wealth Management

What they said...

We are thrilled to be recognised for our next-gen offering for the third year in a row. At BNP Paribas Wealth Management, we design and deliver next-gen solutions with the primary goal of empowering next-gen clients, which we believe is a true differentiator. We will keep providing next-gens with the assistance and solutions they need to make a difference in the world.

What we said...

Building on its success in winning Best Private Bank – Next Generation Services in the 2021 Awards for Distinction, BNP Paribas Wealth Management carried this momentum into 2022 and beyond to ensure it is equipped to serve the clients of tomorrow to the best of its capabilities, said Carly Lau, reporter, Asian Private Banker and member of the Awards for Distinction judging panel. That has been reflected in the impressive developments the bank has made over the last 12 months focusing on next-gen — whether investments and products, client service, or front office training.

For these reasons, Asian Private Banker is once again proud to award BNP Paribas Wealth Management the prize for Best Private Bank – Next Generation Services at the 12th Awards for Distinction, the region’s premier industry awards programme.

Best Private Bank –Digital Innovation and Services

John Plester regional head of Transformation & Innovation, Asia Pacific HSBC Global Private Banking

What they said...

Digitalisation is at the heart of our strategy. We are committed to making it easier for clients to bank with us through creating an ecosystem of integrated digital tools and solutions that is based on their unique needs and insights, and that can be used on demand — wherever, whenever — to meet their international needs.

This award is testament to our undertaking of putting clients at the forefront of everything we do, and we will keep investing in and delivering innovative and industry-leading solutions covering the end-to-end client journey, while combining the expertise of our bankers with best-in-class technology solutions.

What was behind the judges’ decision?

• In 2022, HSBC GPB built upon its already stellar work in developing its digital offering in the previous year. Enhancements included the enabling of e-signature for existing clients, the delivery of personalised investment advice through GPB Chat, a client messaging platform that integrates with WhatsApp and WeChat

• During the period under consideration for the awards, HSBC GPB significantly expanded upon the mobile capabilities it launched in 2021. For example, the bank added trading in structured products including fixed-coupon and equitylinked notes, including the capability for clients to structure their own products, in a first for a private bank in Asia

• In addition to adding mobile trading of funds from an extensive range of fund houses, in November 2022 HSBC GPB added subscription, redemption and top-up of discretionary mandates via mobile platforms

• HSBC GPB also substantially enhanced its digital client proposition with the launch of its Prism advisory services, backed by BlackRock’s Aladdin Wealth technology. The system empowers RMs to provide higher quality and more timely investment advice to clients by monitoring more than 3,000 risk factors daily

What we said...

HSBC Global Private Banking has placed technological innovation at the heart of its strategy in Asia, committing to invest over US$100 million in its digital platforms. This strategy is clearly bearing fruit, with the results seen in a more seamless customer journey, enhanced product capabilities and significantly beefed up service levels, said Daniel Shane, editor of Asian Private Banker.

We are proud to give HSBC GPB the prize of Best Private Bank - Digital Innovation and Services at our Awards for Distinction, the region’s premier private banking awards programme.

Best Domestic Private Bank – Digital Innovation and Services

Sornchai Suneta executive vicepresident & head of the Investment Office and Product Function and Chief Investment Office

Siam Commercial Bank Public Company Limited

What they said...

We are delighted to win three Awards for Distinction from Asian Private Banker for 2022: Best Domestic Private Bank – CIO Office; Best Domestic Private Bank – Discretionary Portfolio Management; and Best Domestic Private Bank – Digital Innovation and Services. The recognition reflects the calibre and dedication of our team members who provided clients with the very best services in a year that was marked by unexpected events, market volatility and uncertainty. We are determined to sustain our best efforts towards serving clients.

What was behind the judges’ decision?

• Throughout the COVID-19 pandemic, SCB has dramatically accelerated the deployment of its end-to-end, hybrid digital advisory, known as SCB wPlan. The platform, with the assistance of an RM, allows for digital client onboarding, portfolio review, product recommendation and trade execution, among other features

• SCB has integrated hyperpersonalisation to an extent rarely seen in domestic onshore players. For example, SCB clients can enjoy different service levels depending on their requirements RM-assistance in person, RM-assistance via teleconference, or do-it-yourself.

• SCB clients can also get differentiated pricing for specific products, receive personalised investment recommendations, and customise their user interface (UI) and user experience (UX)

What we said...

SCB has set a new benchmark for the digital services available to HNW clients in onshore markets, said Carly Lau, reporter, Asian Private Banker and member of the Awards for Distinction judging panel. Blending the best of hyper-personalised engagement, seamless multi-channel touchpoints for clients, and robust risk controls and security, SCB is leading the way in digital innovation in Thailand’s private banking industry.

For these reasons, Asian Private Banker is proud to honour SCB with the accolade of Best Domestic Private Bank – Digital Innovation and Services at the 12th Awards for Distinction.

Whole of Business Awards

Market Segment Awards

Investments & Content Awards

Service Awards

Recognising the highly winners commended

For the 2022 edition of the Awards for Distinction, Asian Private Banker has for the first time added a Highly Commended prize for certain categories.

These prestigious accolades are handed out on merit alone, recognising a private bank or wealth manager that — while falling ever so slightly short of the standard to win a particular category — has demonstrated strategic acumen, a willingness to innovate and an exemplary approach to client relations and investments.

They are awarded purely at the discretion of the judging panel. Asian Private Banker would like to congratulate all of the recipients of Highly Commended awards for their richly deserved success.

Domestic Private Bank Digital Innovation and Services

The judging panel has recognised CTBC Bank as Highly Commended for its endeavours in developing multiple digital channels and the resulting increase in client engagement.

Private Bank Family Office Services

In an acknowledgement of its customised, dynamic and multi–jurisdictional family office offering, J.P. Morgan Private Bank has been Highly Commended.

Domestic Private Bank India

For its outstanding efforts in harnessing dynamic investment and wealth planning solutions that address client needs, Barclays India has been Highly Commended.

International Private Bank Discretionary Portfolio Management

Based on the lender’s achievements in digitalising its discretionary platform and deepening penetration into onshore markets, HSBC Global Private Banking has been Highly Commended.

Private Bank Hong Kong

BEA Private Banking has been Highly Commended for the dramatic improvements to its product platform and efforts to capture market share over the last 12 months.

Private Bank Singapore

Indosuez Wealth Management has been Highly Commended based on factors including robust revenue and AUM performance, improvements in product platform, and success in luring top industry talent.

Domestic Independent Wealth Manager India

For launching several initiatives focused on ESG and equality during the period under consideration, Waterfield Advisors has been Highly Commended.

International Private Bank CIO Office

Bank of Singapore has been Highly Commended for its increasing thought leadership profile and success in delivering compelling risk–adjusted returns to its clients.

Private Bank Fixed Income Advisory

HSBC Global Private Banking has been Highly Commended for its diligent bond selection, best practice execution and cutting–edge analysis.

Private Bank Sustainable Investments

For its efforts in integrating ESG and sustainability metrics into the heart of its investment process, as well as raising awareness among its client base of these crucial matters, Indosuez Wealth Management has been Highly Commended.

Private Bank Alternative Advisory

J.P. Morgan Private Bank has been Highly Commended on the back of its impressive record for raising capital for alternative products, as well as its success in identifying a broad array of income-generating opportunities.

Independent Wealth Manager Asia Pacific

Blackhorn has been Highly Commended for its extraordinary momentum and commitment to enhancing its market visibility, despite its relatively recent entry to the market.

Private Bank Pure Play

In recognition of its entrepreneurial approach to private banking and its solution driven model that places the client front-and-centre, EFG has been Highly Commended.

Asian Private Banker 's 12th Awards for Distinction –The Winners