Banking Choices: Private bank

Private banks are banks owned by either an individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

These banks have a long tradition in Switzerland, dating back to at least the Revocation of the Edict of Nantes (1685). Private banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672.

There were many private banks in Europe, but most have now become incorporated companies, so the term is rarely true any more. Today, the term "private bank" can also refer to the financial institution specializing in financial advice and services for high-net-worth individuals (private banking).

"Private banks" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic states in the 20th century.

The Complexities of Private Banking and Wealth Management

List of private banks

This list contains two types of banks:

Unincorporated banks owned by either an individual or a general partner(s) with limited partner(s).
Incorporated banks specialized in wealth management for high-net-worth individuals.

France

Compagnie Financière Edmond de Rothschild, Paris, founded in 1953; a member of Edmond de Rothschild Group
Société Générale

Germany

Delbruck Bethmann Maffei, Frankfurt, founded in 1748; a member of ABN AMRO
M. M. Warburg & Co., Hamburg, founded in 1798
Sal. Oppenheim, Cologne, founded in 1789; a member of Deutsche Bank

Liechtenstein

LGT Bank, Vaduz, founded in 1920; owned by Princely House of Liechtenstein
VP Bank AG, Vaduz, founded in 1956

Mexico

Ploutus, Mexico City, founded in 2004
First Pacifica, S.A., Mexico City, founded in 2008

Netherlands

Maduro & Curiel's Bank, Willemstad, founded in 1917
MeesPierson, Rotterdam, founded in 1720: a member of ABN AMRO

Switzerland

Banque privée Edmond de Rothschild, Geneva, founded in 1923; a member of Edmond de Rothschild Group
EFG International, Zurich, founded in 1995; a member of EFG Group
Julius Baer, Zurich, founded in 1890
La Roche & Co., Basel, fouded in 1787
Landolt & Cie, Lausanne, founded in 1780
Lombard Odier & Cie, Geneva, founded in 1796
NBAD Private Bank (Suisse) SA, Geneva, founded in 2007; a member of National Bank of Abu Dhabi Group
Pictet & Cie, Geneva, founded in 1805
Union Bancaire Privée, Geneva, founded in 1969

United Kingdom

Arbuthnot Latham & Co., London, founded in 1833
Cater Allen, London, founded in 1816: a member of Santander
C. Hoare & Co., London, founded in 1672
Coutts & Co., London, founded in 1692; a member of Royal Bank of Scotland
Duncan Lawrie, London, founded in 1860; a member of Camellia Plc Group
Harrods Bank, Knightsbridge, London, founded in 1893;
Kleinwort Benson, London, founded in 1786; a member of RHJ International

United States

Brown Brothers Harriman & Co., New York City, founded in 1818

References

Private Banking - Personal Banks ~ Banking Terms Online Database

External links

Swiss Private Bankers Association

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Private bank