CaixaBank, Spain’s leading retail bank chaired by Jordi Gual and with Gonzalo Gortázar as chief executive officer, has reclaimed its acknowledgement as “Best Private Bank in Spain” it is awarded the title for the second year in a row at the Global Private Banking Awards, held by British magazines The Banker and PWM of the Financial Times Group.
The jury of the awards, that distinguish excellence in the private banking sector, have highlighted CaixaBank for its leadership in Spain with €73.4 billion under management, its business model focused on quality advice, as well as its commitment to new technologies in order to be able to offer the best customer experience.
Furthermore, this year, both publications have sought to acknowledge the consolidated experience and professionalism of the team comprising CaixaBank Private Banking, through its Executive Director, Víctor Allende, who has been named “Best Global Leader in Private Banking 2020”. For Allende, “This acknowledgement rewards a Private Banking model that is unique to the market and that helps customers to make complex decisions more simply and efficiently. A model integrated into a network that features a great team of professionals with long-standing experience in Private Banking, highly qualified in financial advisory, and which endeavours to provide a service that satisfies and achieves the goals of each client”.
Furthermore, BPI, CaixaBank's subsidiary, was also named “Best Private Bank in Portugal 2020”.
A value proposal adapted to each customer
CaixaBank Private Banking has a value proposal adapted to suit the needs of each customer that offers a range of services, from independent advisory – CaixaBank Wealth – that seeks efficiency and transparency in costs explicitly charging for the service, to services rendered for operations at the customer's initiative, and to non-independent advisory with a specialised adviser that accompanies customers throughout the majority of their investment decisions.
CaixaBank Private Banking has an omni-channel customer service model that combines, on the one hand, the experience and know-how of more than 600 highly-specialised advisers, distributed across 56 exclusive centres, who work in collaboration with CaixaBank's primary network, the largest branch network in Spain, and on the other, cutting-edge technological advances for individual service and advisory, seeking to adapt to meet the customers' needs at all times and from any device.
In addition, within the framework of its “Social Value Project”, CaixaBank Private Banking offers its customers the support to carry out their philanthropic activity under the best conditions, and to identify the strategy that best suits their values and goals. This project has been designed with a methodology that enables the same criteria and principles with which other wealth investments are governed to be applied to philanthropy, with specific goals, regular monitoring and measuring the gained impact achieved.
At the close of 2019, CaixaBank Private Banking had €73.4 billion in assets under management.
Wide range and ongoing innovation
In 2020, CaixaBank Private Banking launched various new products and services, including the Smart Allocation portfolios, a new discretionary management solution that offers dynamic management with greater control of volatility by means of a quantitative model that identifies different market scenarios in order to adjust the portfolio's risk level by modifying the weighting in equity within each profile. In the same way as the other discretionary management solutions, they can be contracted remotely via the “Ready to buy” system without the customer having to go to the branch.
CaixaBank has now consolidated itself as the market leader in discretionary portfolio management in Spain with over €25 billion under management: the Smart range has more than €1.6 billion euros and the Master range reaches over €20.4 billion euros.
Earlier this year, CaixaBank also gave a new impetus to Ocean, its online fund management platform, by opening it to all its customers, with the aim of being able to facilitate operations for anyone who wants to do so at their own initiative. Fully operated online, Ocean enables customers to choose and subscribe to among 2,000 funds from upwards of 140 advisers.
Thanks to its commitment to innovation, this year CaixaBank Private Banking has also been recognised by PWM magazine as the “Best Private Bank in Europe for its digital culture and vision 2020” at the PWM Wealth Tech Awards.
About The Banker and PWM
The Banker is a British publication owned by the Financial Times Group that has been providing economic and financial information since 1926. It also covers news on markets; banking, regulation and risk; and transactions and technology.
PWM is a British publication by the Financial Times Group with headquarters in London, founded in 2001 and specialising in analysing the growth strategies of European international private banks and of the regional financial institutions in which they operate.
