Barclays Wealth, the global wealth management division of Barclays PLC, has been awarded ‘Best Private Bank – India’ by The Asset, a regional financial publication, at The Asset’s Triple A Investment Awards 2011 on 20 October 2011.
As per The Asset, the Awards honour private banks that provide the most appropriate advice to high net worth clients, have the most experienced relationship managers and offer the best range of products. Winners must also demonstrate growth in its business in the past year – whether measured by assets under management, net new money and revenues or investing of new resources in the business despite difficult markets.
Since the establishment of the private banking business in India three years ago, Barclays Wealth has grown significantly to emerge among the top five players locally. It is differentiated by its “private investment banking” model, unique investment philosophy and wealth advisory expertise.
In India, private banking clients are typically entrepreneurs with multi-generational family businesses and complex financing needs. Tapping onto the strengths of the Barclays Group, Barclays Wealth works with Barclays Capital, the investment banking division of Barclays, to bring in institutional disciplines and capabilities, offering private wealth clients an array of other services including capital-raising activities, access to sector specialists and advisors, as well as institutional trading platforms.
Barclays Wealth is also set apart by its investment philosophy, an innovative approach which recognises that every investor is different. The investment philosophy combines the science of behavioural finance and psychology with modern portfolio management and forecasting methodologies, and guides clients to a personalised portfolio, one which reflects both their financial personality and investment objectives more closely.
Barclays Wealth has also emerged as a leading fiduciary services player in the private client business in India. Its wealth advisory business focuses on onshore estate planning and administration of trust structures predominantly for business families who need to ensure that ownership of assets are aligned to family objectives and ownership. Control aspects are dealt with distinctly to address unique client situations.
Satya Narayan Bansal, Chief Executive, Barclays Wealth India, said, “Barclays Wealth has come a long way since the inception of the business in India three years ago. It is indeed a privilege to be awarded the best private bank in India, to be recognised for the quality of our team and solutions. On this momentous occasion, I would like to thank our clients for placing their trust in us and for their continued support and patronage.”
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Didier von Daeniken, Chief Executive, Barclays Wealth Asia Pacific, said, “Barclays Wealth continues to offer our clients a differentiated approach to their wealth management needs, recognising them as unique individuals and catering to their specific needs. We remain committed to partnering with our clients in their lifelong journey of wealth management, and seek to further build on our strengths to deliver success and results.”
Into its second decade, the Asset Awards is based on a stringent methodology combined with the rigorous approach to the selection of the winners. The awards are adjudicated by The Asset’s Board of Editors who has several decades’ worth of evaluating industry awards in Asia.