BDO Unibank unit named best private bank in PH

BDO Private Bank (BDOPB) is one of the world’s best private banks for continuously providing the diverse investment and financial needs of its high net-worth clients, according to financial magazine Global Finance.

BDOPB, a wholly owned subsidiary of the country’s largest lender BDO Unibank, was picked as the best private bank in the Philippines.

“With unprecedented wealth accruing to individuals worldwide, the number of millionaires and billionaires is growing in every region of the world,” Joseph Giarraputo, publisher and editorial director of Global Finance, said in a statement.

“Although often viewed as a monolithic group, in truth the wealthy have diverse needs— whether preserving inherited wealth or managing riches gained through entrepreneurship,” he said.

Global citation

Giarraputo noted that the annual “World’s Best Private Banks Awards” help high net-worth investors choose wisely among the myriad private banks with different strengths in wealth advisory services, to identify the firms most likely to understand their individual needs and deliver on the highest level of client service.

Global Finance said it had selected the winners making use of entry submissions, market research, input from industry analysts and executives, and other users of private banking services.

It picked winners in each country, including BDOPB, and likewise issued a few global citation.

The magazine picked UBS as the “best private bank in the world,” Citi as the “most innovative private bank in the world,” UOB as the “best private bank for impact investing” and DBS as the “best private bank for millennials.”

For the regional awards, DBS Private Banking won as the “Best Private Bank in Asia-Pacific.”

The winners will be officially be honored during the dinner ceremony for the second annual World’s Best Private Banks Awards 2017 to be held in New York on Feb. 7.

A full report on the selections will appear in the December issue of Global Finance.

Global Finance, founded in 1987, has a circulation of 50,050 and readers in 180 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

Global Finance also targets the 8,000 international portfolio investors responsible for more than 80 percent of all global assets under professional management. —DORIS DUMLAO-ABADILLA