Best private banks for ultra-high-net-worth individuals part 2 – Part one is here.
As promised, below you can find the best private banks worldwide for ultra-high-net-worth individuals.
If you want to invest as an expat or high-net-worth individual, which is what i specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).
Bank of America
Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco and took on its current form when it was acquired by NationsBank of Charlotte in 1998.
It is the second-largest banking institution in the US after JPMorgan Chase and the eighth largest bank in the world. Bank of America is one of the US Big Four banking institutions. It serves approximately 10.73% of all US bank deposits, which is in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its main financial services are in commercial banking, wealth management, and investment banking.
The bank’s large market share, business activity, and economic influence have resulted in numerous lawsuits and investigations involving both mortgages and financial disclosures since the 2008 financial crisis. His corporate practice of serving the middle class and the broader banking community has secured significant market share since the early 20th century.
As of August 2018, Bank of America has a market capitalization of $313.5 billion, making it the 13th largest company in the world. As the sixth-largest American public company, as of June 2018, it had sales of $102.98 billion.
Bank of America was ranked 25th in the Fortune 500 largest U.S. corporations by total revenue for 2020. Similarly, Bank of America was also ranked 8th in the 2020 Global 2000 by Forbes. Bank of America was named “Best Bank in the World” by Euromoney Institutional Investor as part of the 2018 Excellence Awards.
Bank of America is one of the world’s leading financial institutions serving individuals, SMBs, and large corporations with a full range of banking, investment, asset management, and other financial and risk management products and services. The company provides unrivaled convenience in the United States, serving approximately 67 million consumer and small business customers with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 33 million mobile users.
Bank of America is a global leader in wealth management, corporate and investment banking, and trading across a wide range of asset classes, serving corporations, governments, institutions, and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves customers through operations in the United States, its territories, and approximately 35 countries. Bank of America Corporation (NYSE: BAC) shares are listed on the New York Stock Exchange.
Union Bank Privee
The bank is focused on one activity in which it excels – asset management of private and institutional clients. The energy and resources of the bank are focused on the continuous expansion of its competence in this area.
All divisions of the bank serve each other. The integrated business model provides exceptionally efficient and flexible distribution of skills and knowledge. The bank’s business is based on a strong desire to share its know-how and exchange ideas with clients.
They create solutions based on your views and your needs. The bank’s goal is to provide ongoing, detailed guidance and enable you to directly influence your money management strategies. This approach allows them to provide customized investment solutions on which their success is based.
In just a few decades, UBP has grown to be recognized by its peers as a stable, reliable, and successful private bank with unrivaled entrepreneurial talent and vision.
Today, UBP is one of the leaders in asset management in Switzerland. It continues to expand both domestically and overseas, consistently expanding its private banking activities and strengthening its asset management capabilities. In recent years, the Bank has acquired, among others, the international private banking divisions of Royal Bank of Scotland (Coutts) and Lloyds, as well as the group’s Swiss subsidiary ABN AMRO.
Union Bancaire Privée, with assets under management of CHF 160.4 billion at the end of December 2021 and a professional staff of around 1,904 worldwide, is a major player in the Swiss asset management industry.
The Bank is headquartered in Geneva and has more than twenty offices in key economic and financial centers around the world, allowing it to combine global experience with local know-how.
The Bank stands out for its financial strength, which is achieved through careful risk management and conservative balance sheet control. With a Tier 1 ratio of 25.2%, well above regulatory requirements, UBP is among the most capitalized Swiss banks.
In January 2019, Moody’s assigned UBP a long-term deposit rating of Aa2 with a stable outlook. This high rating is a testament to UBP’s continued reliability.
The size and structure of the organization ensures that decisions are made quickly and judiciously. They consistently demonstrate the bank’s ability to act quickly and seize opportunities, and this flexibility not only benefits clients but also serves their own vision of growth.
The Bank carefully conducts its activities, maintaining the financial position of the Bank. Strategic and far-sighted choices enable continued growth as the bank firmly believes in the future of its asset management business, regardless of any major changes in the financial industry.
Citibank
Citibank is the consumer division of Citigroup, a multinational financial services group. Citibank was founded in 1812 as the City Bank of New York and later became the First National City Bank of New York. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico, which are operated by its subsidiary Banamex. Branches in the USA are concentrated in six metropolitan areas: New York, Chicago, Los Angeles, San Francisco. Francisco, Washington DC, and Miami.
The bank has nearly 200 years of experience helping its clients meet the world’s toughest challenges and capitalize on its greatest opportunities. Citibank is a global bank, an institution that brings together millions of people in hundreds of countries and cities.
It protects people’s savings and helps them make purchases – from everyday transactions to buying a home – that improve their quality of life. The bank advises people on how to invest for future needs such as their children’s education and their own pension, and helps them buy securities such as stocks and bonds.
He works with companies to streamline their day-to-day operations, whether they need working capital, payroll, or exporting goods overseas. By providing loans to companies large and small, they help them grow, creating jobs and real economic value at home and in communities around the world. They provide funding and support to governments at all levels so they can build sustainable infrastructure such as housing, transportation, schools, and other vital public facilities.
These opportunities create an obligation to act responsibly, to do everything possible to achieve the best results, and manage risks prudently.
The Bank seeks to win and maintain the trust of the population by consistently adhering to the highest ethical standards. A bank’s decisions pass three tests: they serve the interests of clients, they create economic value, and they always bear systemic responsibility. When they do it well, they make a positive financial and social impact on the communities they serve and demonstrate what a global bank can do.
Morgan Stanley
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building in Midtown Manhattan, New York. With offices in over 42 countries and over 60,000 employees, the firm’s clients include corporations, governments, institutions, and individuals. Morgan Stanley was ranked 67th on the 2018 Fortune 500 list of the largest U.S. corporations by total revenue.
The original Morgan Stanley created by partners JP Morgan & Co. Henry Sturgis Morgan (grandson of JP Morgan), Harold Stanley, and others, appeared on September 16, 1935, in response to the Glass-Steagall Act, which required the separation of commercial and investment banking business. In its first year of existence, the company held 24% of the market (US$1.1 billion) through public offerings and private placements.
The current Morgan Stanley is the result of a merger between the original Morgan Stanley and Dean Witter Discover & Co. in 1997. Dean Witter Chairman and CEO Philip J. Purcell became Chairman and CEO of the newly merged Morgan Stanley Dean Witter Discover & Co. The new firm changed its name again to Morgan Stanley in 2001. The main activities of the firm today are institutional securities, wealth management, and investment management. The Financial Stability Board considers the bank systemically important.
Morgan Stanley is a financial services corporation that, through its affiliates and subsidiaries, advises, creates, trades, manages, and allocates capital to institutions, governments, and individuals. The company operates through three business segments: Institutional Securities, Wealth Management, and Investment Management.
HSBC
HSBC Holdings plc is a British multinational investment bank and financial services holding company. It is the second-largest bank in Europe after BNP Paribas with a total capital of US$204.995 billion and assets of US$2.984 trillion as of December 2020. HSBC traces its origins to the gong in British Hong Kong and its current form was founded in London by the Hong Kong and Shanghai Banking Corporation as a new holding company in 1991; Its name comes from the initials of this company. The Hong Kong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first officially registered in 1866.
HSBC has offices in 64 countries and territories in Africa, Asia, Oceania, Europe, North America, and South America, serving approximately 40 million customers. As of 2020, it was the sixth-largest bank in the world by total assets and market capitalization. According to Forbes magazine’s combined score, HSBC was ranked the 40th largest public company in the world.
HSBC is organized under three business groups: Commercial Banking, Global Banking and Markets, Wealth, and Personal Banking. In 2020, the bank announced that it would merge its retail banking and wealth management division with Global Private Banking to form Wealth & Personal Banking.
HSBC has a dual primary listing on the Hong Kong Stock Exchange and the London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index. It has secondary listings on the New York Stock Exchange and the Bermuda Stock Exchange.
HSBC’s history has been marked by a series of scandals, and the bank has been repeatedly fined for money laundering (sometimes in connection with criminal organizations such as the Sinaloa cartel) or for creating large-scale tax evasion schemes. In 2019 and 2020, HSBC had $8.5 trillion in assets under management (AUC) and over $4 trillion in assets under management (AUA), respectively.
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