Barclays also won ‘Best Private Bank – India’ for the second year running, and ‘Best Private Bank – Japan’ for SMBC Barclays, a private banking joint venture between Sumitomo Mitsui Banking Corporation (SMBC), Barclays Bank PLC, and SMBC Nikko Securities, in Japan .
The Awards recognise private banks for their outstanding achievements, in acknowledgement for being best in class in business performance, growth, commitment to the business, as well as breadth and depth, and innovation in products and services.
In the past four years, Barclays in Asia Pacific has grown revenues and assets under management by about 30% year on year, outperforming its competitors. In pursuit of growth opportunities, Barclays has maintained a singular focus on its core target markets of Greater China, India, Indonesia and Japan. Recognising that no two markets are the same, Barclays has gone to market with a combination of onshore, offshore and joint venture businesses.
Didier von Daeniken, Head of Wealth Management, Asia Pacific, Middle East and Africa, Barclays, said, 'Barclays’ success in Asia Pacific has been driven by our clear focus on who our key clients are, and meeting their needs. With our strategy of hiring very senior bankers with at least 15 to 20 years of banking experience, as well as offering a comprehensive range of tailor-made investment solutions to our ultra high net worth clients, we have continually enhanced our value proposition, and firmly established ourselves as the private bank of choice in Asia'.
Barclays also crowned ‘Best Private Bank - Japan’ and ‘Best Private Bank – India’
SMBC Barclays has grown significantly to emerge amongst the top players in Japan, since the establishment of the private banking joint venture in July 2010. Its assets under management have increased a few-fold in the past year, as the business continues to expand aggressively despite global economic headwinds and in the midst of Japan’s recovery from the impact of the 2011 earthquake, tsunami, and subsequent nuclear crisis. This success is made possible by the unique JV model which brings together the deep client base of SMBC, the state-of-the-art platform of SMBC Nikko Securities and the intellectual capabilities of Barclays.
Since winning ‘Best Private Bank – India’ in 2011, Barclays has grown from strength to strength, as it continues to offer sophisticated ultra high net worth clients access to the most comprehensive range of products and services in the market including institutional quality research, top rated specialists and advisors and award-winning trading platforms. Barclays continued its stellar growth performance in India with AUM increasing 40% over the past year and adding 30% more clients. In just over three years since the inception of the business, Barclays has become the bank of choice for sophisticated private clients, particularly the richest entrepreneurs and business families – Barclays has coverage of more than 50% of the top 200 families in India.
Von Daeniken concluded, 'Our hat trick of wins at The Asset Triple A Investment Awards 2012 is made possible only with the support of our clients and I would like to thank them for placing their trust in us and for their continued support as we partner with them in their wealth management journey'.
Into its second decade, The Asset Triple A Investment 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 which has several decades of experience in evaluating industry awards in Asia.