CaixaBank has been named the 'Best Performing Private Bank in Europe 2022' at the Global Private Banking Awards, presented by the British publications The Banker and PWM of the Financial Times Group.
This new award was created by the magazine using an algorithm that takes into account many quantitative indicators, such as earnings, profitability, asset flows and sector ratios like the number of clients per adviser, among many others. Based on the analysis of these variables, CaixaBank Private Banking received the award for best performing bank of the year.
This award recognises the excellence of its private banking business model, focused on the quality of service, constant growth and the use of new technologies to offer the best customer experience.
"The business model of CaixaBank Private Banking that we have been creating over the last few years is a success story, which is consolidated year after year with the creation of new service models and specialised products to offer an innovative value proposition based on aligning our interests with those of our customers. This is all with the aim of anticipating the transformation of the Private Banking industry in the coming years", remarked Víctor Allende, director of Private Banking at CaixaBank.
Following the merger with Bankia, CaixaBank Private Banking strengthened its leadership, with assets under management of EUR 114.860 billion at the end of the first half of the year, boosted by the entity's commitment to specialisation and the creation of new products and services for customers.
In 2022, CaixaBank Private Banking launched 'Independent Advisory', a service for customers with between one and four million euros in potential assets, with a complete range of products and services, charging an explicit advisory fee, which means full transparency for investors, and specialised advisers in the private banking centres.
This service was created following the success of CaixaBank Wealth, launched four years ago for high net worth clients, with a separate brand and organisational structure, made up of 13 centres and a specialised team exclusively dedicated to this segment, in which each adviser handles a portfolio of a maximum of 35 clients.
As a result, the entity has 17.5 billion euros under management in independent advisory as at the end of June 2022, a 62% increase on the 10.8 billion euros recorded in 2020.
Multiple international awards
The Global Private Banking Awards, now in their 14th year, have become established as the leading awards in the private banking and asset management sector. Each year the judging panel, made up of independent industry experts, looks at the quantitative and qualitative information available in order to reward excellence in the sector. The awards were presented last night in London, at an event that brought together leading names from the industry.
The award for 'Best Performing Private Bank in Europe 2022' from the magazines PWM/The Banker comes on top of other international awards received by CaixaBank Private Banking during the year. Among these, PWM named CaixaBank Private Banking as the 'Best Private Bank for Big Data Analytics and Artificial Intelligence' and 'Best Private Bank for Digital Communication and Marketing'. In addition, the US magazine Global Finance named it the 'Most Innovative Private Bank in Western Europe 2022', and the US consulting firm Aite-Novarica awarded it the prize for 'Best Private Bank in the World for Sales Enablement/Prospecting 2022' at its Digital Wealth Management Impact Awards.
CaixaBank Private Banking
CaixaBank Private Banking's value proposition offers various service models to adapt to each customer's needs and preferences, ranging from those who demand a global advisory service to those who operate at their own initiative in the management of their assets using a platform with global capabilities for investment in securities, funds and other management products.
The CaixaBank Private Banking model features a team of close to 1,000 specialised professionals and has 73 specific centres distributed nationwide.
