Top Ten UHNW Wealth Managers
When Jeremy Knowland catches up with Spear’s he’s in an optimistic mood. ‘We feel we are getting increasing traction and we have a volume of new clients,’ he says.
Citi Private Bank’s UK client base, he says, usually has a UK nexus, although increasingly ‘they’re global citizens, with a number of families particularly going into North America, Singapore and other parts of Asia. Our clients can be seamlessly linked up,’ he adds.
That internationalism particularly makes sense at the moment. ‘We are encouraging our clients to go global,’ he says. ‘That has some advantages when there’s crisis in the world – it may not feed through to the rest of the world. Clients benefit from being more diversified on a global basis.’
In Knowland’s view, MiFID II has been somewhat challenging: ‘There’s the requirement to spend time focused on delivering and adhering to regulation.’ That can slow delivery, but if so it’s something the industry is used to dealing with over the past decade.
He is clear on the need to move the industry forward: ‘The industry more broadly needs to be better at attracting people at inception,’ he says. If you look at his client book – and the fact that Citi has been Spear’s International Bank of the Year twice in a row – he must be doing something right.