Best private bank: UBS
UBS delivered outstanding financial performance and client satisfaction over the review period, driven by successful integration efforts, distinctive ultra-high-net-worth (UHNW) offerings, and an ability to engage next-generation clients.
The bank reported a 2024 Q3 profit significantly exceeding market forecasts, buoyed by robust revenue growth and targeted cost reductions. This performance was supported by the completion of the first wave of client migrations from Credit Suisse following its 2024 acquisition, which expanded UBS’s footprint, deepened its talent pool and enhanced cross-divisional capabilities. The integration has positioned the bank to better optimise resources and invest in client-centric platforms.
A key element of UBS’s differentiation lies in its UHNW solutions group, a one-stop-shop for UHNW clients offering seven tailored capabilities spanning investments, family strategy, art and next-generation education. The group’s team approach integrates expertise across divisions and geographies, providing exclusive global experiences and peer networks – a model credited with deepening client loyalty and attracting new capital.
Another source of strength is the bank’s global family and institutional wealth (GFIW) unit, a cross-divisional service targeting wealthy families and institutions. GFIW notably achieved double-digit growth over the review period. Over 90% of the unit’s Swiss-based clients rated their relationship managers highly for advisory quality.
UBS has also prioritised engaging next-generation clients through its Global Rising Investors and Global Family Ties programmes, developed in partnership with top academic institutions to advance financial literacy and leadership skills. Its Young Investors Organisation, a global network of over 1,800 members, offers next-gen clients opportunities for peer collaboration and personal growth.
Best international private bank: BNP Paribas Suisse
BNP Paribas Suisse delivered exceptional growth fuelled by strategic thematic investing, solid performance in the ultra-high-net-worth (UHNW) segment and effective group-wide collaboration.
The private bank has demonstrated robust growth in Switzerland over the review period, with assets under management surging by nearly 16% year-over-year to SFr24.8 billion ($28 billion).
The bank maintains a distinct focus on thematic investments. By identifying long-term trends and timing market-entry points, it has developed innovative solutions, enabling clients to capitalise on its target sectors. Thematic portfolios have delivered significant outperformance: semiconductor-focused investments returned 91% against an 18% benchmark, while sustainability and green transition strategies yielded 48% versus 16%. Similarly, AI-themed portfolios generated 38% returns against a 17% benchmark.
BNP Paribas Suisse has also demonstrated strength in its UHNW segment, which now represents 79% of its assets under management – a 4% increase over the past year. Leveraging synergies across BNP Paribas Group entities, including corporate and investment banking and besreal estate, the bank has enhanced its integrated service model. This approach combines personalised offerings with cross-business collaboration, aiming to deepen client relationships and unlock value through tailored financial solutions.
Sustainability has been another area of focus of the private bank. In 2024, 15.2% of clients expressed interest in ESG-aligned investments, exceeding the market average of 10%. The bank notably enhanced its offering in the space by launching the BNP Paribas European Impact Bonds Fund II, providing exclusive access to bonds financing social housing, renewable energy and healthcare projects.
Best for alternative investments: Indosuez Wealth Management
Indosuez Wealth Management’s emphasis on deepening relationships with fund managers and expanding investment capabilities continued to drive its reputation as a leader in private markets, balancing institutional rigour with client-centric adaptability.
The bank’s private markets programme is supported by a Geneva-based 12-member team overseeing a rigorous due diligence process that blends qualitative and quantitative analysis. This approach underpins a performance track record exceeding 13% per annum, tested across multiple market cycles.
The programme offers clients access to an average of 12 investment strategies at any given time, spanning diverse segments, geographies and risk profiles. This breadth enables tailored portfolio construction, with allocations adjusted to individual risk appetites and objectives, regardless of client size.
Annually, the programme deploys 50 to 60 investments across funds, direct co-investments and secondary transactions, ensuring continuous diversification and alignment with evolving market opportunities.
A cornerstone of Indosuez Wealth Management’s recent achievements is its semi-liquid Evergreen fund, which surpassed expectations by amassing over $270 million in assets. Designed for investors seeking shorter durations and lower entry thresholds, the fund demonstrates the bank’s ability to democratise access to private markets while maintaining institutional-grade selectivity. ESG principles are also integrated in the fund’s investment criteria.
Additionally, the bank stood out with its digital transformation initiatives aimed at enhancing transparency and client engagement. The introduction of platforms like PE Enhanced™ and AirFund provides real-time performance reporting, cash-flow projection and digital product showcases, streamlining investor decisions.
Best for digital solutions: Lombard Odier
Lombard Odier has achieved meaningful progress in its digital transformation ambitions, offering robust platforms aimed at enhancing client transparency and efficiency.
One of its flagship solutions, Global Assets+ (GA+), offers comprehensive asset administration, consolidation and analysis capabilities tailored for a range of clients. GA+ notably manages complex private asset flows such as capital calls and distributions in real time, automating processes such as private equity notices to eliminate manual data entry. By August 2024, GA+ had successfully attracted SFr95 billion ($108 billion) of assets under reporting.
Another standout service is LO Smart, an innovative, fully web-based reporting tool designed for easy user interaction. Featuring a What You See Is What You Get interface, LO Smart enables clients without technical expertise to customise dashboards and financial reports easily.
The tool integrates automated calculations for internal rate of return and public market equivalent, allowing precise performance analysis and benchmarking of private assets against public markets. LO Smart’s flexible API-based architecture facilitates collaboration with fintech partners, incorporating third-party data into customised client reports.
The bank’s advanced e-banking platform My LO, prioritises client security through biometric identification and cutting-edge cryptography. The My LO Sign application supports second-factor authentication, digital document signatures and secure approval of transactions, improving client trust and operational security.
Best for discretionary portfolio management: Julius Baer
Julius Baer delivered innovation in its discretionary portfolio management (DPM) offering, while continuing to demonstrate market-leading performance.
In summer 2024, the bank expanded its offerings with the launch of two new funds: the JB Edelweiss UCITS Fund and the JB Equity Global Excellence Mid-Cap Fund, designed to broaden client access to diversifying opportunities through its proven investment framework.
These funds complement a broader push to cater to ultra-high-net-worth individuals via the introduction of cross-generation asset-allocation strategies, which integrate semi-liquid or illiquid alternative investments into three tailored strategic allocations. These efforts aim to balance sustainable growth and income generation across generations, leveraging an expanded universe of 20,000 investment instruments to address complex wealth preservation needs.
The boutique’s open guided architecture remains a key component to its discretionary solutions, blending proprietary expertise with third-party fund indexing to optimise flexibility.
In-house funds are deployed for beta optimisation strategies, while external partnerships offer commoditised index solutions, ensuring clients benefit from both bespoke and standardised approaches. This dynamic framework supports adaptive portfolio construction, enabling the integration of diverse strategies aligned with individual client objectives.
Performance metrics underscore the effectiveness of Julius Baer’s approach. The Julius Baer EUR Strategy Fund, reflecting the bank’s house view, has consistently ranked in the top tier of its peer group, maintaining outperformance across varying market regimes over medium- to long-term horizons. Four of the bank’s 24 rated in-house funds hold a 5-star Morningstar rating, with an additional 10 securing 4-stars – a notable feat in a competitive landscape.
Best for family-office services: UBS
UBS’s global family and institutional wealth (GFIW) unit, established in 2022, has emerged as a cornerstone of the bank’s strategy to deliver cross-business expertise to ultra-high-net-worth (UHNW) families.
By uniting specialists across coverage, asset management and investment banking, the unit addresses interconnected personal and corporate needs through direct access to public and private markets, bespoke financing and personalised advisory services.
This collaborative model is underpinned by its unique ‘network Approach’, which leverages UBS’s global footprint to foster connections between clients, enabling families to engage with peers and access opportunities through its ecosystem.
A key pillar of the bank’s evolution has been its data-driven Personas framework, which systematically categorises client needs to design bespoke strategies. The unit has further enhanced its analytical capabilities by embedding generative AI into its business development processes, synthesising data points – from client investment holdings to event participation – to identify unmet needs and generate tailored recommendations.
This AI layer complements recent operational innovations, such as a multi-banked trading solution allowing clients to maintain custody of assets with UBS while pledging collateral in segregated accounts for external trading. The solution reduces collateral management costs and operational friction, optimising risk management for clients navigating multiple counterparties.
Client satisfaction and growth metrics underscore these efforts. GFIW notably achieved double-digital growth, and over 90% of its Swiss-based clients rate the unit’s relationship managers highly for advisory quality.
UBS’s thought leadership is showcased in its annual Global Family Office Report. The 2024 edition analysed 320 single-family offices with an average net worth of $2.6 billion, to offer granular insights into asset-allocation trends, sustainable investing and risk management.
Best for HNW: Julius Baer
Julius Baer has successfully revitalised its domestic high-net-worth (HNW) franchise through targeted client engagement, regional growth and digital innovation.
The bank has introduced a revamped domestic strategy in the HNW segment aimed at reversing prior declines. Behind this approach is the segmentation of client groups, including dedicated services for entrepreneurs and self-employed professionals, paired with refreshed marketing campaigns emphasising Swiss heritage and the bank’s capabilities. These efforts have driven positive net new money growth within the segment, reflecting early success in repositioning the brand.
Geographic expansion has further grown the bank’s local presence, with a dedicated HNW team now present in the cantons of Aargau and Solothurn, to capture regional opportunities. Selective hiring continued across Switzerland to reinforce client-facing teams, ensuring deeper market penetration.
Additionally, pension fund products tailored to professionals and the ongoing rollout of its digitalised wealth-planning platform, 360 Plan, aim to streamline client advisory processes. Investments in digital channels and a dedicated digital assets proposition position the bank to address intergenerational wealth transfer, a critical focus for HNW clients.
Best for philanthropic advisory: LGT Private Banking
LGT Private Banking’s Swiss philanthropic advisory services have positioned the bank as a catalyst for strategic, values-driven giving, leveraging its expertise to transform client aspirations into measurable societal and environmental outcomes.
The bank’s dedicated team of advisers collaborates closely with clients to design bespoke philanthropic strategies, aligning individual visions with actionable frameworks.
A key pillar of LGT Private Banking’s approach is its emphasis on structuring philanthropy effectively. Clients receive guidance on selecting optimal vehicles – from establishing private foundations to utilising donor-advised funds – tailored to their financial and operational contexts. This process involves rigorous analysis of each option’s benefits and challenges, ensuring alignment with long-term goals.
The LGT Guide to Strategic Philanthropy – Doing Good, Well guide, co-developed with Philanthropy Insight and now available in four languages, serves as a foundational tool in these consultations.
Additionally, a distinct focus for LGT Private Banking since 2023 has been biodiversity, with the bank convening families and individuals to advance regenerative environmental practices through collaborative funding and knowledge-sharing platforms.
Best for succession planning: Lombard Odier
Lombard Odier has strategically positioned its succession planning services in Switzerland within a broader framework of tax-efficient wealth management, leveraging a multi-generational legacy as a family-owned institution.
The bank embraces a streamlined “four steps” methodology, designed to optimise intergenerational asset transfers while mitigating risks of wealth dilution through meticulous adherence to civil and tax regulations
A cornerstone of recent innovation is the integration of tax-efficiency tools into its technological infrastructure, notably the proprietary “tax comparator”. This digital platform enables real-time analysis of fiscal regimes across jurisdictions, empowering clients to make informed relocation decisions while ensuring compliance with dual legal frameworks.
In addition, Lombard Odier’s tax-efficient portfolio management system embeds wealth planning and investment expertise into its IT infrastructure, dynamically optimising clients’ after-tax returns through automated data aggregation for bankers and portfolio managers.
The bank fields an experienced team of wealth-planning specialists across Switzerland. Structured into regional and expertise-based clusters, this team collaborates with investment professionals and bankers, ensuring unified service delivery for multinational families.
Stability within the team facilitates multi-decade client relationships, aligning with Lombard Odier’s emphasis on long-term, cross-generational partnerships.
Best for sustainability: Edmond de Rothschild
Edmond de Rothschild has demonstrated a holistic ESG approach by aligning significant assets with net-zero and socially responsible objectives, driving meaningful environmental, social and economic impact.
The bank has been delivering on its ESG commitments: as of mid-2024, Edmond de Rothschild oversaw SFr27.6 billion ($31.2 billion) in assets under management aligned with ESG and socially responsible investing (SRI) strategies. In the review period, it disclosed that 47.5% of its in-scope AUM – €26 billion ($28 billion) – is now managed in line with net-zero by 2050 emissions targets.
This is complemented by the bank’s human capital initiatives, where a dedicated fund allocates SFr18,000 toward education for every SFr1 million invested – a model informed by proprietary quantitative research aimed at bridging social inequities.
The bank’s BRIDGE infrastructure debt platform exemplifies its focus on the real economy, channelling over 40% of its €5.1 billion energy transition investments to date into projects prioritising decarbonisation and job creation.
Parallel to this, its private equity arm has advanced sustainable urban regeneration in Europe via the Ginkgo platform, which transforms polluted or abandoned urban sites into eco-conscious residential and commercial spaces, addressing both environmental preservation and community needs.
In liquid markets, Edmond de Rothschild has developed innovative ESG strategies, including its emerging markets climate bonds strategy, human capital strategy and sustainable equity portfolio, blending thematic investing with rigorous ESG screening.
Additionally, the bank emphasises social impact through employee-driven philanthropic programmes, leveraging internal expertise to address societal challenges.
Best for UHNW: HSBC
HSBC’s strategic focus on the ultra-high-net-worth (UHNW) clientele in Switzerland has yielded measurable progress, characterised by accelerated growth and operational enhancements.
The bank reported a 5% year-on-year increase in total client positions (including assets under management and lending), with 90% concentrated in UHNW clients predominantly managed through family offices.
Its UHNW assets under management grew at twice the pace of managed asset flows industry-wide. A sharper focus on high-margin solutions, including tailored investment products and credit offerings, contributed to a 6 basis point improvement in returns across total client positions.
The driving force behind these achievements is a dedicated team of over 200 specialists spanning relationship management, investment counselling, ESG advisory and wealth planning. Over 80% of front-office client-coverage staff have completed advanced training programmes facilitated by a top-tier external provider.
The bank also prioritised cross-functional upskilling, ensuring support teams align with client-centric performance metrics. Staff diversity – spanning cultural backgrounds and sector-specific expertise – has contributed to its ability to deliver globally relevant solutions across asset classes.
To sustain momentum, the bank expanded its talent pool, recruiting over 70 senior professionals in Switzerland and key markets over the past year. These hires, spanning client-facing roles and strategic support functions, aim to deepen relationships with existing UHNW clients while capturing new opportunities in a competitive segment.
Best wealth manager: Novum Capital Partners
Novum Capital Partners has swiftly emerged as a dynamic player in the Swiss wealth management sector, distinguished by specialised service and a sophisticated approach tailored to ultra-high-net-worth (UHNW) families.
The firm has rapidly expanded its footprint in the wealth management sector, quadrupling its market share from 0.8% to 3.88% over four years, with a clear trajectory toward 4% by 2025. This growth is anchored in a 50% surge in assets under management to $5.58 billion in 2024, with Novum’s focus on highly tailored solutions for UHNW families solidifying its niche in a competitive landscape.
The firm embraces a specialised service model featuring a one-to-one employee-to-client ratio, enabling deep customisation across 14 jurisdictions. A team of industry veterans – led by seven partners with decades of global finance experience – combines expertise in equities, fixed income and alternative assets to build diversified portfolios.
This structure supports cross-border complexity, blending international perspective with localised insights to address multi-generational wealth needs, from tax structuring to financing luxury assets like art and yachts.
Novum’s core offerings, including discretionary portfolio management and advisory mandates, emphasise access to exclusive institutional-grade opportunities. Clients benefit from co-investments in private equity, hedge funds and venture capital, often securing preferential terms unavailable to smaller investors.
The firm’s alternatives platform employs rigorous due diligence, partnering with top-tier managers to balance alpha generation and risk mitigation. This approach has driven resilience in client portfolios, particularly amid volatile markets.
Transparency remains a pillar of the firm’s strategy, supported by custom digital reporting tools that provide granular insights into asset allocation and performance. Clients receive tailored dashboards, quarterly reviews and adjustable reporting frequencies, all enhanced by recent digital integrations to streamline engagement. Such tools not only foster trust but also empower UHNW families to align decisions with long-term objectives.
Best for next-gen: UBS
UBS has cemented its position as a leader in next-gen thanks to a multifaceted strategy combining tailored financial solutions, education and strategic partnerships to address evolving client needs.
The private bank utilises a data-driven methodology that identifies clients requiring wealth-transition support, segmenting them by readiness and tracking life events – such as marriages, career shifts or inheritances – to trigger proactive advisory services. This system ensures smooth intergenerational transitions, with over 70% of participating families reporting improved confidence in managing inherited wealth, according to internal metrics.
The bank has embedded next-gen guidance into its operational DNA. Over 1,200 client advisers have completed specialised training focused on multigenerational communication and wealth transfer dynamics, gaining relevant skills and knowledge to navigate complex family structures.
Complementing this, UBS developed a proprietary framework in partnership with next-gen clients and academic experts, enabling advisers to curate bespoke solutions, peer-learning networks and education programmes.
UBS has also prioritised educational content to the segment, delivering several flagship initiatives driving measurable outcomes. Its Global Rising Investors programme, run in partnership with Stanford University and INSEAD, has trained 450 participants since 2022 in investment strategies and entrepreneurial thinking, with 89% achieving self-defined financial milestones.
Global Family Ties, co-designed with the University of St. Gallen, focuses on governance and conflict resolution, preparing 320 heirs for leadership roles in family enterprises. Additionally, Global Emerging and Executive Leaders has mentored 280 clients through leadership workshops, with 76% advancing to board or executive positions post-programme.
Strategic alliances play a key role in the bank’s efforts, as well. Partnerships with leading academic institutions such as Stanford, INSEAD and St. Gallen add academic rigour, while its flagship collaboration with the Young Investors Organisation – a global peer network with over 1,800 members – enhances client engagement and retention.
Best pure play/boutique private bank: LGT Private Banking
LGT Private Banking’s extensive capabilities across a range of domains made it stand out from competitors in the local market.
By merging its private banking expertise with sister entities – alternative investor LGT Capital Partners and impact investor Lightrock – LGT grants clients access to institutional-grade private markets investments. The firm also offers co-investment opportunities through its role as the Princely family’s family office, allowing clients to align portfolios with the long-term vision of Liechtenstein’s royal owners.
Sustainability is a core component of LGT’s strategy, with measurable progress toward ambitious targets. Investments worth SFr57.7 billion ($65 billion) are subject to an environmental or social screen as of December 2023, representing 37.4% of the total assets managed. Over 40% of EU clients have chosen sustainability profiles, and 80% of discretionary mandates in Europe are classified as EU Article 8.
LGT Private Banking’s climate strategy targets net-zero operations and balance sheets by 2030. Through synergies with Lightrock, LGT channels capital into scalable solutions for healthcare, education and environmental challenges.
The firm has also prioritised digital investments. Its AI-powered platform Lumen optimises investment decisions through data science, while agile operational frameworks ensure rapid adaptation to market shifts.
Additionally, LGT SmartBanking provides intuitive portfolio management, aligning perfectly with the boutique’s strategic focus on blending digital convenience with personalised advisory.
