The Google Generation Of Family Offices: How These 40 Banks Are Preparing

In a world built on global communities, connected via technology and dominated by social media, Google search and advice gleaned from Reddit, next-generation wealth owners are shifting mindsets and strategies within their family offices. They are also disrupting traditional banking and investment modalities and driving novel trends.

Their altruistic, collaborative, socially-conscious and purpose-driven ideologies have shaped interest around impact, sustainability, socially responsible investment. These, coupled with the mindset of managing wealth like a business, have seen family offices increasingly focus on shifting investment strategies to effect change while also producing returns in these areas. This is an exercise that requires digital excellence, greater transparency, agility and approachability for all involved.

Leading banks have tracked these family office trends and taken steps to accommodate the next generation’s family office growing demands through technological innovation, integration and a focus on sustainable portfolios.

Banking is increasingly regarded as a commodity. With banks gearing their messaging around shifting family office objectives, families’ challenges lie in identifying which questions to ask and how to compare offerings and terms when selecting a bank. This is not a task that can be conquered simply by examining websites and the generally available information as not all terms and data points are readily available. It’s also not always easy to discern the degrees of diversity, transparency and agility within each organization or whether values and objectives truly align with that of the family.

Many companies and institutions are attempting to assist family offices in addressing this issue. Since 2017 the University of Zurich Center for Sustainable Finance and Private Wealth released the Sustainable Investing Capabilities of Private Banks report that compares 20 European banks on their sustainable capabilities. Other companies are also releasing banking databases, benchmarks and other comparable family office private banking data sets to actively explore these and other emerging factors.

With this in mind, below is a roundup of 40 banks that have started gearing themselves towards the next-generation family office in various geographical locations and according to their core competencies.


Asia Pacific


ANZ Bank

ANZ Bank, headquartered in Melbourne, is one of the top 4 Australian commercial banks and holds the dominant market share as the primary bank to Australian Family Offices with 15 years of deep specialization within the Family Office market.

According to ANZ GM Private Banking and Advice James Dunlop, their experience allows them to understand, identify and share best practices around establishing and operating a family office. He states, “The opportunity to create greater engagement with the next generation through areas such as philanthropy, impact investing, specialized education and legacy development is significant. These areas not only serve to bring the family together for the common good, but they also allow the family to participate in social change for the betterment of the world in which they live.”



DBS Group Holdings has seen a surge in family office accounts as Asia’s wealthy seek professional advice in navigating economic, financial and regulatory risks, the rising digital economy and succession planning. Since its inception in 2019, assets under management (AUM) have grown by 40 percent.

This growth trajectory is projected to continue as interest both eastern and western family offices pivot to Singapore, a country regarded as a safe gateway to Asian opportunities. The group is renowned for digital innovation and its use of cutting-edge technology. DBS continually strives to improve user experience and empower its clients. Its partnership with leading fintech companies to offer products like digiPortfolio, a hybrid of robotic and personalized asset management, are sure to appeal to next-generation family office members who are just learning the ropes and often prefer a DIY investment approach with individual strategic advice.

DBS also offers insight into various issues, including the cultural differences between the east and west in family office structure and approach and east-west distinctions in succession planning.



A global financial services group, Macquarie operates in 31 markets, including Australia, the Americas, Europe and Asia. A top global asset manager, the group has $A556.3 billion in assets under management, providing investment solutions to family offices across various capabilities and products.

Macquarie is a world leader in alternative asset management with a passion for sustainable investment. Martin Stanley, Head of Macquarie Asset Management, explains, “We have an opportunity to make a real and sustainable difference. Together we can invest the world’s long-term savings while helping to build and develop businesses that matter. That’s why we exist, and it’s what we’re relentlessly focused on.”





Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $949 billion as of 31 October 2020 and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

Global President of BMO’s Family Office, Shannon Kennedy, explains “BMO Family Office helps clients navigate the complexities of managing wealth, with expertise across numerous disciplines. With an Enterprise perspective and strong connectivity across each of BMO’s businesses, it brings extensive capabilities with a boutique feel. BMO Family Office leads with advice, and helps families contemplating monetization, those holding liquidity, and those seeking guidance on intergenerational wealth transition.”



Royal Bank of Canada (RBC) is Canada’s largest bank and one of the largest in the world based on market capitalization. A dedicated Enterprise Strategic Client Group is committed to serving the complex, multi-generational and multi-jurisdictional needs of UHNW of family offices and individuals.

According to Mark Fell, Head, Global Ultra High Net Worth Services, RBC focuses on serving the next-generation through their Global Leadership Council, “We have created a new mentoring and educational opportunity for carefully-selected current and future leaders from different industries, backgrounds and regions. We also recently published a report on next-generation UHNW families with a net worth of $100MM USD+ across Canada, the US, and the UK.”




CA Indosuez (Credit Agricole Subsidiary)

Managing the needs of some of the most prominent families worldwide for more than 145 years, Indosuez Wealth Management has a presence in more than 13 geographies with a strong focus in Europe, including Switzerland, the Middle East and Asia.

Recognizing that their clients have sophisticated needs and require wealth managers to adapt to these, in 2020, the company launched a new global division for private investment banking with Credit Agricole CIB. The division is dedicated to supporting UHNWI and its family holdings worldwide.

Pierre Masclet, Deputy CEO of Indosuez Wealth Management Group, elaborates that, “By offering Private Investment Banking we facilitate that long-term family office strategies by taking advantage of the group’s network and the synergies between corporate and investment banking and wealth management. The clients’ response to this initiative is very satisfactory, and the synergies among the various entities of the group are enormous.”




Deutsche Bank Wealth Management

Deutsche Bank is a global private bank with headquarters in Frankfurt, Germany. Its wealth management division has locations throughout the Americas, Europe, the Middle East and Africa, and Asia Pacific.

The bank’s family office service offering and investment strategies have evolved from a deep understanding of the complexity of family office situations and challenges, and these are highly tailored to meet their evolving needs. As ESG increasingly becomes a key investment theme, it is clear from Deutsche Bank’s positioning, research and communications that it is one that the bank is well-versed in navigating. Deutsche Bank also offers more institutional solutions to Multi-Family Offices.




Banca Generali Private

Banca Generali Private is Italy’s third-largest private bank by assets with around €75 billion under management. Its open-source model is focused solely on financial advisors that bring together various financial service instruments and platforms, enabling them to act as a private-banking fintech company while retaining elements of traditional models built on relationships.

Banca Generali believes the changing tax landscape and market complexity offer new opportunities for family offices who are able to join forces and build synergies. With multi-family offices becoming increasingly common, the bank expects more consolidation in this area.

According to the bank, “The advantage of autonomy and respect for the direction chosen by the family of reference are important features that can yield considerable benefits in terms of the sharing of platforms and services, such as those offered by our bank.”



UniCredit is a simple, successful pan-European Commercial Bank with a fully plugged-in CIB, delivering a unique Western, Central and Eastern European network to its extensive client franchise.

What sets UniCredit apart when it comes to family offices is its dedication to client relationships and understanding their needs. According to Alessandro Cummunale, Head of Global Family Office, “UniCredit has long-standing relationships with some of the most successful entrepreneurs in our core markets. Through our deep knowledge of clients and via leading investment banking and wealth management franchises, we offer a full range of products that meet family office needs with tailor-made solutions.”

Stefano Vecchi, Head of Wealth Management Italy, adds, “Furthermore, we seamlessly combine our expertise in financial markets, wealth management, wealth planning and M&A advisory for the benefit of our family office clients. We are also recognized as one of the leading banks in sustainable finance and related ESG topics, rendering us extremely well-placed to support and advise our clients investing in socially responsible assets.”




Itaú Private Bank

Headquartered in São Paulo, Brazil, Itaú Private Bank is the largest bank in Latin America. With more than 20 years of wealth management experience and $136.5bn assets under management, Itaú has offices in 19 countries, including Argentina, Chile, Paraguay, USA, Switzerland and the Bahamas.

Services include a global platform for investments and highly qualified teams in various locations to attend Latin American clients worldwide. With these tailor-made services allied to digital solutions, Itaú is an appealing partner for next-generation family offices.





Quintet Private Bank was founded in 1949, is headquartered in Luxembourg and operates in 50 cities across Europe, with over 2,000 staff.

Quintet’s family of private banks includes Brown Shipley (UK), InsingerGilissen (Netherlands), Merck Finck (Germany), Puilaetco (Belgium), Puilaetco (Luxembourg), Quintet Danmark (Denmark), Quintet Luxembourg (Luxembourg) & Quintet Switzerland (Switzerland).

“Quintet is attracting many new clients among the most demanding family offices and UHNWIs. What sets us apart is our ability to deliver value by selecting the best available content and services from third parties, acting as truly independent advisors,” said Philip Higson, Group Head, Family Investment Office, at Quintet Private Bank. “At the same time, it is clear that family offices have a unique opportunity as providers of long-term capital without reference to historical benchmarks or short-term thinking.”


Middle-East & Africa



ABSA Group Limited is a South African-based financial services group with a presence in over 12 countries across Africa and Mauritius, placing it in a strong position to provide services across the continent.

ABSA wealth management has been the recipient of several first places in the various Private Banking and Wealth Management Surveys. Their multi-family office service provides high-touch banking, leveraged solutions, legal advisory services, traditional and non-traditional investment management on a bespoke basis.

The bank’s focus is on offering a comprehensive financial plan and assisting families in growing their wealth through various life stages


Mashreq Bank

Mashreq Bank is home to world-class investment advisors and regional expertise with a service offering built on over 50 years of banking heritage.

With a single-minded focus on protecting and growing family office wealth across generations, Mashreq’s investment platform offers an extensive array of specialized structures from everyday banking to special investment and insurance products and services, refined to suit individualized needs.


Maybank Islamic

Headquartered in Malaysia with offices in over 20 surrounding countries, Maybank is perfectly positioned to offer private banking to Muslim family offices seeking Islamic-centric services.

Maybank embeds Shariah-compliant channels in a broader world-class private banking operation. “H.O.T. Broking” (Honest views, Opening channels, Transparent information), described as “end-to-end Shariah-inspired equities trading,” is fully integrated with Maybank’s online platform.



Founded in 1977, Rand Merchant Bank (RMB) operates in South Africa and specific markets in sub-Saharan Africa, the UK and India.

RMB Family Office Group Solutions’ delivers multi-disciplinary solutions for selected family offices and ultra-high net worth clients’ personal, family office and portfolio companies’ needs.

What started primarily as an M&A advisory, debt, markets with transactional banking has evolved to include global markets wealth management solutions that are not as “cookie-cutter” as others in the market. Their holistic advisory services offering holds appeal for the next-generation who value having “everything under one roof” and is often looking for alternative investment options that align with their values and purpose.





Carnegie is a Nordic investment bank that prides itself on professionalism, integrity and transparency as it partners with clients to achieve their short and long-term investment goals.

Its international operations extend to the UK and USA. In different regions, they offer various combinations of services. These include investment banking, wealth management, corporate and project finance and even private banking in Sweden.

For Nordic customers, Carnegie’s offering serves as an excellent standalone solution or may be considered part of a secondary custodial function.


Danske Bank

The Danish bank is operational throughout the Nordics and Northern Ireland, serving personal and business and institutional customers in these markets. The largest shareholder is A.P. Moller Holdings, connected to the Maersk family.

According to Claus Midtgaard Nielsen, Investment Specialist at Danske Bank’s Family Office unit, their offering is flexible. It can be adjusted to a specific client’s requirements, “We have a dedicated Family Office setup that provides tailored solutions to our Family Office clients. We create value by cherry-picking the very best services and solutions across our bank and deliver it all with a one-point-of-entry. The clients in Family Office in Danske Bank are part of our unique network. Through networking events and co-creation of products and services, we strive towards building a platform that is essentially created by the Family Offices themselves.”

“Family Offices have the opportunity to become truly purpose-driven investment platforms. We recognize their desire to overcome our planet’s most overwhelming challenges, and this purpose gives the Family Offices access to areas that are not easily accessible for the rest of us.”


SEB Bank

Owned & controlled by the Swedish Wallenberg family since 1856, SEB Bank has an operational presence throughout the Nordics, Baltics, UK and Germany as well other key family office locations such as Singapore and Hong Kong. They offer a full suite of banking and advisory services for both individuals and their businesses.

According to Ole Hamre, Head of External Family Office, “Sustainability and next-generation owners have always been an important part of our banks legacy committed to and supporting Nordic businesses and owner families through generations.” He adds, “At SEB we strive to obtain a single view of each family’s unique underlying private ownership – either it relates to its industrial, financial or private assets – securing an in-depth understanding of our clients’ needs and aspirations combined with unique global organizational capabilities and infrastructure delivering value creation advisory to our clients.”




CaixaBank Private Banking

CaixaBank is Spain’s leading retail bank with a host of accolades and titles to its name. At the close of 2019, CaixaBank Private Banking held €73.4 billion in assets under management. The harnesses technology offers an omnichannel customer service model that boasts the experience and know-how of more than 600 highly-specialized advisers, distributed across 56 exclusive centers.

CaixaBank Private Banking is committed to reducing conflicts of interest with clients. Thus, an explicit-payment paradigm has been implemented instead of a commission-based structure which has led to the development of independent advisory services within their offering in the form of CaixaBank Wealth and CaixaBank Wealth Management Luxembourg. The bank also strengthens its discretionary portfolio management strategy, ensuring it is well integrated into the client-manager relationship. According to a spokesperson for Caixa, “As leaders in the discretionary management services in Spain by AuM, we believe this is the best solution not only from the clients’ point of view but also from the managers.”

This incentive-free approach completely aligns the bank with the clients’ best interests, in line with the current market trends of independent advisory and complete cost transparency. There is a clear separation of execution, management and advisory services in terms of positioning and pricing that adds value to family offices that demand a tailor-made service not conditioned by a package deal.




Credit Suisse

Credit Suisse is a global bank of Swiss origin that boasts over 160 years of private banking expertise.

The bank’s Family Office Services team prides itself on strengthening ultra-high net worth families’ ability to successfully preserve, grow, and transfer their legacy across generations and market cycles. This is achieved through the standard family office style offerings, including impartial advice on the family’s legacy and investment governance tailored to its plans and objectives. Three vital areas, including family legacy, architecture and wealth management, are addressed to overcome the common challenges that inevitably arise.


Edmond de Rothschild

Edmond de Rothschild is a family-owned, 250-year-old investment house. The organization provides investment products and advice based on our in-house analysis of macroeconomic trends. The Edmond de Rothschild Group has built expert teams covering liquid and illiquid assets (Real Estate, Private Equity and Infrastructure) and liability management.

According to the bank, the significant opportunity is helping families reach their financial and non-financial goals. They state, “We strongly believe that families want to decide and measure the impact that their investment decisions will have in the long-term. We benefit from a strong tradition in this space and have the expertise needed to help them achieve their long-term capital growth targets as well as their philanthropic and impact goals.”



Founded in 2011, Globalance is the only Swiss private bank exclusively focused on sustainable investing. Their unique wealth impact platform, Globalance World, provides extensive information on investments: their climate path, impact on the economy, society and the environment and their exposure to megatrends.

According to Globalance, they are a good match for family offices as they are owned and managed by the founders. This means they understand the needs of family offices and UHNWIs with a family office mindset. As they are also pioneers in sustainable investing, families can rely on one of the industry’s longest track records of expertise.

Globalance believes there is a significant opportunity to preserve wealth for future generations in a sustainable manner by investing in sustainable investments, “Families do not have only financial goals, but also values and shared visions. Above all, it is shared values that secure a family’s financial wellbeing in the future. Family members will become more responsible for the wealth they will inherit if they become more aware of how substantial investment volumes impact the economy, society and the environment.”

Globalance advises clients in Switzerland as well as in Germany via its subsidiary in Munich.


J. Safra Sarasin

Owned by the Safra family, J. Safra Sarasin is well established through its banks in more than 25 locations in Europe, Asia, the Middle East, Latin America and the Caribbean. The group emphasizes security and well-managed conservative growth for its clients. At the end of December 2019, it managed total client assets of CHF 185.8 billion and employed about 2,200 staff.

According to the bank, “We offer family offices and young entrepreneurs a powerful combination of 180 years building wealth for multiple generations of clients, the principles and values of a family-owned bank, a 30+ year track record as the global pioneer in sustainable investing, and a bespoke technology platform.”


Julius Baer

Julius Baer is a 130-year-old bank that prides itself on highly personal service to UHNWIs and a strong international focus. Their communication is both sleek and inspirational and immediately shows how they approach wealth differently.

Guy Simonius, Head of Family Office Services, believes that there is an ample opportunity for banks to assemble & coordinate service delivery by different specialists. He explains, “We are the best fit for traditional needs thanks to our heritage; Family is in our DNA. As for emerging needs like addressing challenges imposed by globalization, we are unique when it comes to our service model for families, combining global reach, in-house expertise and our network of leading external partners.”


Lombard Odier

The Swiss, family-owned bank founded in 1796, with roughly 2500 employees and CHF 290 bn AUM may sound like many others but has evolved to be unique. Lombard Odier is one of the few B Corp certified banks, and roughly a third of their employees work in the cutting-edge banking technology business.

According to Patrick Odier, Senior Managing Partner, they are well-positioned for the emerging family office needs, “At Lombard Odier, we have accompanied entrepreneurs and family businesses over several generations. Entrepreneurial and long-term thinking is inherently in our DNA. What has changed is the digital proficiency of the younger generation and their interest in sustainability, impact investing and private equity – areas in which we have leading expertise.”



Pictet is an investment-led bank with a 200-year history. They have no external shareholders and focus intensely on this independent mindset.

According to Honora Ducatillon, Head of Family Advisory at Pictet Wealth Management, their core offering makes them an excellent long-term partner. She elaborates, “As every large wealth owner is different, so is their wealth management setup. When they come to us, some UHNWIs have a lean organization with few dedicated resources; some others already have a more sophisticated setup.”

Pictet can provide a modular service that can complement a client’s setup. Ducatillon points out that multidisciplinary teams are needed to tackle multi-generational families’ complex challenges and embrace innovative approaches, such as design thinking when guiding families through their family governance journey.

Ducatillon believes family offices should note numerous emerging technologies that significantly impact financial services and could transform the business. She explains, “The pace of change in technology, the acceleration of traditional planning cycles and the rise of sustainability all present opportunity and challenge to family offices.”


Reyl & Cie Ltd

REYL & Cie Ltd is licensed as a bank in Switzerland and forms part of REYL Group. Founded in 1973, the REYL Group is an independent diversified banking group with offices in Switzerland (Geneva, Zurich, Lugano), Europe (London, Luxembourg, Malta) and the rest of the world (Singapore, Dubai). The REYL Group manages assets over CHF 13.5 billion and employs more than 220 professionals.

The Group is focused on developing an innovative approach to banking. It serves a clientele of international entrepreneurs and institutional investors through its Wealth Management, Entrepreneur & Family Office Services, Corporate Advisory & Structuring, Asset Services and Asset Management business lines.



UBP prides itself on offering family offices fully customized solutions when it comes to investments and wealth planning. As one of Switzerland’s leading private banks, it is perfectly positioned to do so.

UBP is among the best-capitalized banks with a Tier 1 ratio of 27.7% and specializes in wealth management for private and institutional clients. Based in Geneva, it employs 1,812 people in over twenty locations worldwide and, as of 31 December 2020, held CHF 147.4 billion in assets under management.

According to UBP, “Today, clients focus on achieving specific objectives and require a tailored approach to meet them. As an independent bank with a strong wealth and asset management arm, UBP designs innovative goal-oriented investments and wealth-planning solutions. UBP specializes in return-based risk management, single asset class allocations and secular global trends investing to enhance an overall portfolio.”



UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in Zürich and Basel’s cities, it maintains a presence in all major financial centers as the largest Swiss banking institution in the world.

UBS is a good fit for the next-generation mindset due to its strong sustainability focus which is also detailed and comparable in the Sustainable Investing Capabilities of Private Banks report. They have won several awards for their sustainable investment capabilities and have a UBS Hub for sustainable finance.


The Netherlands


ABN AMRO MeesPierson

ABN AMRO is a Dutch bank for retail, corporate and private banking clients focusing on Northwest Europe. In private banking, they hold top positions in the Eurozone with established brand names such as Neuflize OBC in France, Bethmann Bank in Germany, and ABN AMRO Private Banking in Belgium. ABN AMRO MeesPierson is a private bank in the Netherlands.

According to Marianne Verhaar-Strijbos, Director Private Wealth Management ABN AMRO MeesPierson, “We act as a principal partner taking care of all clients’ aspects; from the possession of assets to the various entrepreneurial activities. We combine a personal approach with a digital offering: a personal bank in the digital age. In addition, true to our purpose Banking for better, for generations to come, sustainable investing is the default for private banking clients.”

On the point of sustainability, Verhaar-Strijbos continues, “We have a distinct proposition for the entrepreneur who opts for that transition to a more sustainable business and unique (investment) solutions like our Impact Mandate where we can indicate how your portfolio contributes to the achievement of the Sustainable Development Goals of the United Nations.”



With headquarters in the Netherlands and offices in Belgium, France, Germany, Spain and the United Kingdom, Triodos was founded in 1980 to help create a society that protects and promotes quality of life and human dignity for all’ through ethical banking.

Nearly four decades on, the bank continues to offer financial services to clients who “want to change the world for the better and make money work for positive social, environmental and cultural change” – a sentiment at the core of Triodos’s investment management and philanthropic strategies.

According to the bank, “Triodos Bank offers measurable, focused impact through a range of investment options. We don’t invest in what’s fashionable, but in what makes a positive difference, whether for the environment or for a fairer, more inclusive society, making us one of the world’s most sustainable banks since 1980. We believe clients will increasingly demand a combination of targeted impact and solid financial performance.”


United Kingdom



A renowned name in British multinational investment bank and financial services, Barclays is headquartered in London, England. Apart from investment banking, Barclays is organized into four core businesses: personal banking, corporate banking, wealth management, and investment management. This positions the bank to offer family offices comprehensive services across the board.

Barclays Private Bank recently brought on Effie Datson as global head of its family office service. This, along with other key hires, sends a strong signal of a gender equality focus from the bank. Sustainability is also central to Datson’s role at Barclays and is a key pillar in not only her communication with family office clients but various Barclays divisions involved on their accounts.



Coutts & Co. is a private bank and wealth manager with an eye on the future when it comes to family office planning, investments and advice. Founded in 1692, it is the eighth oldest bank in the world. Today, Coutts forms part of NatWest Group’s wealth management division.

The Coutts Strategic Solutions Group is an interesting offering that plays into the rise in direct investments’ popularity. They support Coutts clients with direct investments into private companies, club deals and private real estate investments. In addition, they offer advisory services in a variety of pertinent areas to ensure multi-generational success.




Alex. Brown

Alex. Brown is an American investment bank with an illustrious history spanning two centuries. The bank prides itself on offering the extensive capabilities required to develop tailored financial solutions with the personal attention of a boutique firm.

The bank offers a holistic approach to family offices’ financial affairs that aligns with each family’s values and mission. Being part of Raymond James, they are able to provide a full suite of of services including transactional banking. Their other focus areas include wealth management and preservation and the promotion of family unity through advisory services on family governance, wealth transfer and succession planning.


BBH & 1818 Family Office

Brown Brothers Harriman & Co. is the oldest and one of the largest private banks in the United States. In 1931, the merger of Brown Brothers & Co. and Harriman Brothers & Co. formed the current BBH.

The bank offers three major business lines: Investor Services, Investment Management, and Private Banking. In addition to the $4.7 trillion in assets under custody and administration in Investor Services, BBH Investment Management has $54 billion in assets under management (AUM), and Private Banking has $47 billion in AUM.

According to Jeff Meskin, Partner and Head of Brown Brothers Harriman Private Banking, “Within BBH Private Banking, our focus is helping our clients achieve their vision of success for their families, wealth, businesses, and institutions. We seek first to understand each client’s unique circumstances and objectives, and then we offer our perspective and experience as an investor, trusted advisor, and capital provider for over 200 years to help them accomplish their goals.”


Boston Private

The integrated bank and RIA serves clients with offices in Boston, New York, San Francisco, Los Angeles, and Miami. Boston Private provides wealth management, trust and banking services to individuals, families, businesses and non-profits. One-third of their clients represent families for which they manage assets for multiple generations.

According to Bill Woodson, EVP, Head of Wealth Advisory & Family Office Services, choosing a private bank can provide family offices with the scope of services they require without the challenges that accompany the highly segmented nature of large institutions.

Also, he notes, “Not all families wealthy enough to have a family office want to formalize one. For those families, we’re able to provide comparable services, which includes a deep knowledge of family enterprise structure and governance, a connected community of like-minded families, and access to experts that can meet an entire spectrum of family needs.”


Goldman Sachs

Goldman Sachs is a renowned American investment bank headquartered in New York City. It offers individuals, family offices, companies, and investors worldwide investment banking, wealth management, securities, asset management, prime brokerage, and securities underwriting services. In the US, Goldman Sachs also offers GS Select, a private banking offering.

In 2019 the organization launched a new family office initiative, comprising small teams that offer holistic, comprehensive services from across the firm under one roof. These range from investing and lending, investment banking, trading and risk management, to custody and philanthropy services.

Apart from offering a range of services to ultra-high net worth individuals and family offices, they also have their multi-family office offering through their company AYCO.


Morgan Stanley

Morgan Stanley is an investment bank with offices in 42 countries. They provide their family office and UHNWI clients with Investment Management, Wealth Management, and Institutional, M&A and corporate finance.

Morgan Stanley also integrates investment management with their Family Office Resources solutions which include family governance and wealth education, philanthropy management, tax trust and estate advice, trust services, lifestyle advisory — providing a one-stop solution.

According to Valerie Wong Fountain, Head of Signature Access and Single Family Office Advisory, there is much work to be done around professionalization,

“With over 10,000 estimated family offices globally, I believe the biggest trend and opportunity is the institutionalization and professionalization of the family office.” She adds, “Ultra-high net worth families who have a family office should expect the best advice, service, solutions, and benefits from their family office and their third-party advisors.”


Northern Trust

Founded in 1982, Northern Trust’s GFO group has a focused commitment to families of significant wealth, their private foundations and the family offices that serve them. Across the globe, the group has over 265 dedicated professionals who work with more than 450 families in more than 30 countries. The average client size is US$900 million. The bank offers custody and asset servicing, open-architecture investment solutions, access to a broad spectrum of managers for advisory solutions, banking and credit liquidity products and services.

According to Dave Fox, President of Global Family and Private Investment Office Services for Northern Trust, there is a significant opportunity to reduce friction in day-to-day family office operations while constant monitoring against security threats.

“Data management, performance monitoring, aggregation and reporting are challenges for most global family offices, especially as they increasingly operate in virtual environments.”



Silicon Valley Bank (SVB) offers commercial and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world.

With 72% of all new wealth being self-made and a large portion coming from entrepreneurs, there is a significant opportunity for banks such as SVB to connect with the next generation of wealth owners at an early stage in their journey.


Finding the right fit

For family offices, banking is becoming more than a commodity. Selecting a bank is now about far more than finding one that offers the desired services in the required territories. It also requires partnering with a bank with a unique understanding of the family’s objectives and provides the technology, functionality, and advice needed to engage the next-generation and shares common values that drive all services and strategic investment decisions.

(Francois Botha, Forbes).