Bank of the West named Best Private Bank in the Western United States by World Finance
San Francisco, CA | Sep 16, 2013
Bank of the West has been named Best Private Bank in the Western United States by World Finance, a leading global financial magazine. The recognition was a result of a nomination process by the readers of World Finance and review by the magazine's awards selection panel.
The World Finance reviewers noted the 80 percent increase in new affluent and high net worth clients since the bank re-launched its wealth management business two years ago; described it as a "truly client focused, private banking/wealth management institution;" and recognized Bank of the West as "the leading 'Go To' firm in the US West region for private banking /wealth management matters."
In particular, the review panel cited "the firm's strong, comprehensive and very integrated client centric ethos" based on the team's "one-to-one client service model of Private Client Advisors," and the bank's "strong multichannel brand building approach." It also recognized the bank's "strong hires;" in 2012 alone, the bank bolstered its leadership team with several senior executives. The bank's wealth management team currently has more than 400 employees and is recruiting for open positions on its private client advisor, financial advisor, and client service officer teams.
In accepting the award, John Bahnken, head of the firm's Wealth Management Group and senior executive vice president, said "We thank our clients for their advocacy and ongoing partnership. Those strong client relationships along with the support of our bank's senior executives and partners across the institution have helped fuel our success. All of us at Bank of the West are proud to be recognized along with other widely respected firms around the world, including our parent, BNP Paribas, which was honored in three categories – as France's Best Private Bank, Commercial Bank and Investment Bank."
According to World Finance, winners of the 2013 Banking Awards will be announced publicly in a dedicated supplement to its September/October 2013 issue and distributed to the magazine's global readership. The winners are based on criteria including:
- Bank performance (internal and external; financial statements)
- Financial ratios (profit and risk ratios)
- Variety and clarity of products and services
- Corporate Governance
- Cutting edge and innovative CRM systems and solutions
- Sales and growth within existing client structure and geographical spread
- Platforms and ease of account functionality
- Alternative financial products and parallel market interaction
- Competitive strategy moving forward
More about the awards and World Finance can be found atwww.worldfinance.com. Bank of the West Wealth Management provides wealth planning, investment management,* personal banking, and trust services. The group is part of BNP Paribas' global wealth management business of more than 6,000 professionals in 30 countries worldwide with over $10 billion** in assets under management in the United States and $354 billion (€265 billion) in assets under management globally as of December 2012.
About Bank of the West:
Founded in 1874, $64 billion-asset Bank of the West (www.bankofthewest.com), member FDIC and equal housing lender, offers a wide range of personal, commercial, wealth management and international banking services. The bank operates more than 600 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 80 countries with nearly 200,000 employees.