wealth-bulletin.com, 07.12.09

Swiss banks top German-speaking wealth list

Swiss private banks continue to dominate the German-speaking wealth management market, the largest such market in continental Europe.

German wealth managers have failed to make it into the top three, according to an annual survey by publisher Fuchsbriefe in Berlin and the Institute for Quality Assurance and the Examination of Financial Services in Hanover.

Fuchsbriefe and IQF took into account investment performance over a 10-year period, growth in assets under management, new money flows and fees and commissions to come up with a list of the top wealth managers in German-speaking Europe.

In the 2010 German-speaking survey, published last week, Zurich-based Bank Julius Baer topped the list, beating more than 100 other private banks and independent asset managers from Luxembourg, Germany, Austria, Switzerland and Liechtenstein.

Ralf Vielhaber, editor in chief at Fuchsbriefe, said: "Julius Baer stood out above all through its well-structured and solution-oriented advice, which was full of ideas; consultants with international expertise; and a sophisticated wealth management strategy.”

Credit Suisse ranked second across German-speaking Europe, although it topped the rankings in Germany. It had ranked second in Germany last year. Credit Suisse has expanded its presence in Germany and has more than 10 wealth management offices in the country.

Jörg Richter, managing director of IQF, said: "Credit Suisse shows once again that they mastered the very complicated 'Onshore Advisory’, especially for clients in Germany.”

Third place in the German-speaking category went to Luxembourg-based DZ Bank International. Baden-Württembergische Bank in Stuttgart was fourth. Hauck & Aufhauser in Frankfurt was the only other German-based bank to make the top 10.
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