Swiss private banks compete hard for the money of the rich and the annual league table is always a highlight. The fourth quarter of 2018 obviously had an impact on assets under management – but not at equal measure across the board.

Swiss private banks compete hard for the money of the rich and the annual league table is always a highlight. The fourth quarter of 2018 obviously had an impact on assets under management – but not across the board.

Swiss wealth managers had to lick their wounds after the stronger-than-expected decline in asset prices in the latter part of 2018. Some of the private banks posted massive declines in assets under management, while a few escaped almost unharmed or even added to their tally.

That’s what emerged from a comparison of assets under management in private banking as of the end of 2018, which finews.com took and compared with 2017.

The Biggest Gainers…

AuM 2018 kleinBank Vontobel had the biggest increase in absolute terms (see table left). But the numbers are heavily influenced by the acquisition of Notenstein private bank, which boosted client assets significantly.

Excluding such one-off items, it was Zuercher Kantonalbank that had a remarkable increase to show off with. Assets under management at the state-owned bank rose 6.4 billion Swiss francs ($6.4 billion) – with net new money reaching a remarkable 18 billion francs. The state guarantee, its measured public profile and a wide offering of products seems to resonate with the rich clientele.

Graubuendner Kantonalbank had an equally impressive performance, which in no small measure was due to the inclusion of the assets of Albin Kistler, a Zurich-based wealth manager. The bank had the biggest increase in percentage terms (+11 percent), followed by VP Bank of Liechtenstein (+2 percent).

The Biggest Losers…