CaixaBank is innovating in its independent advisory services for private banking, with the opening of a new specialist centre in Barcelona. Located in the district of Pedralbes, at Calle Pedro i Pons 6-8, it has a surface area of 3,150 m2 and is comprised of four floors and a terrace. Approximately 80 specialists will provide independent advisory services and manage global assets worth more than €10,300 million.
The goal is to make it a benchmark for independent wealth advice in the city of Barcelona. It is almost entirely dedicated to engaging with high-net-worth customers and contains the latest innovations in tech, a meeting space with capacity of up to 80 people for events and presentations, and a coworking area for its customers' use.
Through this new format, CaixaBank is strategically progressing with its wealth management concept, which involves a commitment to explicit cost models and independent advice, and is opening the door to studying more openings in other cities.
CaixaBank was the first bank in Spain to provide an independent advisory service to its private banking customers, having started in January 2018. The service is divided into two segments: CaixaBank Wealth, which manages customers with assets averaging €9.6 million through a team of 89 managers. In March 2024, assets under management amounted to €22,844 million. The second model is the Independent Advisory Service, launched in 2022, which was managing €16,475 million euros through 161 managers as of March 31st.
In addition to these advisory services, non-financial services, such as advice on philanthropy or art, are also provided to these segments.
CaixaBank Wealth Management Luxembourg, a Group subsidiary serving customers who wish to diversify their wealth in different jurisdictions, will also have a presence in the Pedro i Pons building. It was the first bank registered in Luxembourg to only provide an independent advisory service, and it began operations in 2020.
Another exclusive service offered at this building is the private banking advisory committee, made up of 22 professionals who advise customers in Catalonia and the Balearic Islands, remotely and proactively, on fixed-interest securities and equities in accordance with the bank's investment strategy team's outlook.
Through this decision, CaixaBank hopes to provide customers in these segments with the best experience and continue to position itself as a leader and point of reference for independent advice.
CaixaBank Private Banking, an internationally acknowledged model
Recently, CaixaBank was chosen for the sixth and second consecutive year, as the ‘Best Domestic Private Bank in Spain 2024’ in the latest Global Private Banking Awards by the British magazine Euromoney, which acknowledges excellence and best practices in private banking internationally. In addition to this national award, CaixaBank Private Banking picked up three further accolades: ‘Best Private Bank for UHNW in Spain 2024’ (ultra-high net worth), ‘Best Private Bank for Discretionary Portfolio Management in Spain 2024’ and ‘Best Private Bank for Family Office Services in Spain 2024’.
CaixaBank Private Banking's value proposition offers various service models to adapt to the needs and preferences of every customer, from those who require a global advisory service to those who operate on their own, managing their wealth via a platform with capabilities for global investment in securities, funds, savings insurance, and other management products.
CaixaBank's private banking model is comprised of a team of 1,131 accredited specialists, with 15 years of experience on average, and 75 exclusive private banking centres and 11 exclusive wealth centres, ensuring that customers always receive a personalised service. At the end of March, the division exceeded €141,500 million in managed funds and securities.
