Best international private bank: Santander Private Banking
Santander Private Banking Mexico led the country’s wealth‑management industry throughout the review period, delivering a world‑class international platform distinguished by execution capability and regionally adjusted strategic leadership. Across the evaluation period, Santander reinforced its position as Mexico’s premier cross‑border private bank, combining deep local expertise with the global scale and governance of the Santander Group.
Demonstrating strong financial performance, the franchise delivered sustained, growth driven by superior advisory capabilities, enhanced product sophistication and a robust open‑architecture model. Assets under management (AUM) rose by a quarter during the review period and supported significant net new money and double‑digit expansion across flagship offerings such as discretionary portfolio management, advisory mandates and unit-linked solutions.
Santander’s leadership in international private banking is further reflected in its integrated global approach. The bank provides seamless connectivity across the US, Europe, the Middle East and Latin America, enabling Mexican clients to access best‑in‑class solutions and multi‑jurisdictional wealth planning. Its sophisticated digital ecosystem, anchored by Santander Web and advanced mobile capabilities, enabled operational agility and cross‑border execution. With a proven talent model calibrated for private banking excellence, Santander Private Banking continues to set the national benchmark for international capability, strategic sophistication and client experience – solidifying its leadership as Mexico’s best international private bank.
Best for HNW: HSBC Mexico SA, Institución de Banca Múltiple
HSBC México SA delivered a robust wealth strategy throughout the review period that has enhanced market performance, digital capability and client impact across Mexico’s evolving high‑net‑worth (HNW) segment. During the past year, the franchise achieved exceptional expansion – growing its client base by more than 60%, through a data‑driven engagement model that deepened relationships and elevated advisory precision.
The bank now manages an all-time high in investment funds, while introducing a fully digital onboarding and operating model for mutual funds, generating significant new inflows. Complementing this, HSBC launched innovative sustainability‑aligned and global‑market strategies (for example, GOB2), broadening Mexico’s access to institutional‑grade investment opportunities.
Digital acceleration underpinned every dimension of growth. With digital contract openings representing 79% year‑on‑year expansion, HSBC México engineered a frictionless investment experience, reinforced by e-trading capabilities, competitive pricing and real‑time execution.
Additionally, the bank’s integration of Global View and Global Transfer enabled cross‑border transactions for its clients. HSBC’s HNW proposition is further distinguished by the EIH (Estrategia de Inversión HSBC/investment strategy), which propelled assets under management (AUM), tripling since September 2024. With its ‘CARE‑driven’ (connected, accountable, responsive and empathetic) service model, a best‑in‑market digital wealth journey and an incredibly strong record in investment management in Mexico, HSBC México merits recognition as the country’s best for HNW.
Best for client service: Scotia Wealth Management
Scotia Wealth Management’s recognition as Mexico’s best for client service during the review period is driven by its disciplined advisory model, regional integration and delivery of elevated client outcomes across Mexico’s complex wealth profiles.
As part of Scotiabank’s international franchise, the Mexico wealth management platform continues to demonstrate market‑leading momentum, underpinned by double‑digit earnings growth and an exceptional net promoter score.
The bank’s strategy in Mexico is anchored in its Total Wealth Approach – an integrated, end‑to‑end advisory framework that unifies local investment expertise with the full breadth of global capabilities across Scotiabank’s wealth, commercial and capital markets ecosystems. This unified model ensures that each client engagement benefits from multi-disciplinary coordination, data‑driven planning and a consistent standard across every touchpoint.
The expansion of its high‑net‑worth (HNW) and ultra‑high‑net‑worth (UHNW) service model, including specialised credit structuring and access to top‑tier advisory talent, further reflects its commitment to long‑term value creation.
Throughout the review period, client engagement proved a cornerstone of Scotia’s differentiation. In 2024 alone, its teams executed more than 100 Mexico‑based client events, including elevated experiences such as the Bupa Championship. With a performance trajectory defined by consistently superior client outcomes, Scotia Wealth Management leads for client‑centric excellence in Mexico.
