The best private banking services in Spain
The choice followed a worldwide survey of private banking operators, high-net worth wealth managers and family offices.
CaixaBank, Spain’s leading bank by market share, has been selected as the Spain’s best private banking services in thePrivate Banking Survey 2015, conducted by the British magazine Euromoney. The result followed a worldwide poll of 2,377 private banking operators, high-net worth wealth managers and family offices, who were asked to identify the best private banking providers based on service quality and business models.
According to thePrivate Banking Survey 2015, CaixaBank, presided over by Chairman Isidro Fainé and CEO Gonzalo Gortázar, also topped the rankings in a further three categories: services to super-affluent clients, asset management and philanthropy / impact investment.
As of year-end 2014, “la Caixa” Private Banking, CaixaBank’s specialist service for clients with more than half a million euro in assets, served 44,385 clients and managed a total of 49.828 billion euro. The bank also operates 35 specialised private banking offices. The bank’s current private banking market share stands at 13%, with average annual growth of 11.7% in 2014.
The acquisition of Barclays Bank SAU, which is now a subsidiary of CaixaBank Group, is set to bring a further 4,000 private banking clients, representing some 2.6% in additional market share.
Growth in 2014 was driven by the trusted and highly qualified consultancy provided by the service, tailored to the specific objectives of each client and offering the flexibility to adjust rapidly to changing needs. Service innovation has allowed account managers to take their offices with them when they visit clients. This means “la Caixa” Private Banking clients now enjoy exclusive benefits, unique in the Spanish market, such as the option to sign contracts or register for services from the location of their choosing.
The private banking business has also recorded excellent portfolio management results, providing the basis for further growth and showing the success of the bank’s strategy.