Swiss Wealth Managers Name Their Preferred Custodian Banks

The Alliance of Swiss Wealth Managers (ASWM) presented its Bank Awards 2026 at its annual «Gala Dinner» – the third such event in the organization’s history.

The association brings together 41 of the country’s largest independent asset managers. Membership requires at least 1 billion francs in assets under management, positioning it firmly among the largest external asset managers (EAM) in Switzerland.

The event at Zurich’s Aura gathered around 200 participants from the Swiss wealth management industry. ASWM president Nicole Curti hosted the evening and led a high-level panel discussion.

CEOs underline strategic relevance

A central moment was the exchange between Sergio Ermotti, CEO of UBS, and Stefan Bollinger, CEO of Julius Baer. While the discussion itself was held off the record, the mere fact that two CEOs of large listed private banks took part is telling.

Independent asset managers act as a key interface between banks and wealthy private clients. Their importance has grown steadily in recent years – not least because they pool client assets and play a decisive role in the selection of custodian banks and investment products.


The award winners in the order of their announcement. (Images: Courtesy)

In a fireside discussion with Markus Wintsch (ASWM vice president, Swisspartners CEO), Sven Holstenson, one of the seven Partners of the Pictet Group, spoke about the GenAI revolution and how it allows humans to focus on higher-level thinking and relationship-building while AI tools take care of the «grunt work» and repetitive tasks.

Pictet talk

Sven Holstenson, Pictet (right) at the fireside discussion with Markus Wintsch. (Image: provided)

When in the «old world» we spent 90% on gathering data and 10% on thinking, now we spend 10% on data gathering and 90% on debating implications. In the financial sector for instance, the analyst becomes the Pilot – he/she is not mining to get data but deciding where to mine and spends more time on the result. This allows institutions like Pictet to balance tradition with bold technological adaptation for long-term success.

Peer-based assessment

The Bank Awards are based on a questionnaire and a voting process among ASWM members, covering areas such as client service, financial solutions, operational quality, technology and innovation.

This approach gives the results a distinctly practical relevance: the ratings reflect the day-to-day experience of asset managers working with these institutions.

The winners:

Client Service

  • Large Banks: Pictet
  • Mid-Tier Banks: Banque Syz

Financial Solutions

  • Large Banks: UBS
  • Mid-Tier Banks: VP Bank

Operational Excellence

  • Large Banks: Julius Baer
  • Mid-Tier Banks: Zürcher Kantonalbank (ZKB)

Technology

  • Large Banks: Lombard Odier
  • Mid-Tier Banks: Swissquote

Innovation

  • Large Banks: Vontobel
  • Mid-Tier Banks: Luzerner Kantonalbank (LUKB)

Challenger

  • Union Bancaire Privée (UBP)

The «Challenger» category, won by UBP, highlights institutions that differentiate through tailored solutions, niche investment access and close client relationships.

A structurally important channel

The well-attended event also highlighted structural aspects of wealth management in Switzerland: independent asset managers have established themselves as a key distribution channel and continue to gain influence over asset allocation and bank selection.

For private banks, access to this segment is increasingly becoming a matter of competitiveness.