Top six placing for Deutsche in private banking survey

Deutsche Bank was named the sixth best global private bank in Euromoney's wealth management survey.

Deutsche was ahead of names like Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale in a poll that was dominated by the Swiss banks.

But globally, Deutsche picked up several accolades, notably for its ability to manage portfolios. The Bank was first for equities portfolio management and joint first -with BNP Paribas - for fixed income. And there was also a joint first - with Credit Suisse - for hedge fund investments. There were also high rankings for use of technology (2nd), high net worths (HNW) (2nd) and super affluent (3rd).

Deutsche Bank was ranked number one in Germany for private banking and won subsidiary awards in Germany for servicing international clientele, the super affluent as well as a number two ranking for high net worths.

Euromoney reported that the big banks are increasingly fostering links across their private banking and investment banking activities. "The very richest clients of private banks are natural candidates for the services of investment banks……The ultra wealthy have adopted the characteristics of an institution."

The report added that the ultra HNW individuals want private banks to give them access to an investment bank. But in order for this to be successful, the investment banks need to understand a private client's investment strategy in the same manner as their private bankers. Euromoney said that "the kudos of private banking is giving investment banks a route into a new quasi-institutional client base."