BBVA has officially launched ‘Global Wealth’, a new unified offering designed for its high-net-worth clients worldwide. This initiative consolidates the bank’s Premium, Private Banking, and Ultra High Net Worth (UHN) segments under a single brand identity, aiming to provide a more consistent and personalised experience across all markets.
Unified Approach to Wealth Management
The new Global Wealth brand, active since October, replaces previously disparate names and identities for BBVA’s services aimed at wealthy clients across different countries. This strategic move is intended to create a common, recognisable structure, combining BBVA’s international strengths with the local knowledge and capabilities of each market, according to BBVA. The goal is to reinforce BBVA’s position among high-net-worth individuals and families, supporting their financial needs, which are often international in nature.
Jaime Lázaro, Head of BBVA Asset Management & Global Wealth, stated that the launch “consolidates BBVA’s leadership position in the high-net-worth segments with a specialized and consistent value proposition offering different levels of service.” While a common structure is being established, some local labels will remain for the highest-net-worth clients, such as UHN Patrimonios in Spain, Premium Patrimonial in Mexico, and Premium and Premium Plus in Colombia.
Tailored Services and International Reach
The Global Wealth model is structured around three key tiers to cater to evolving client needs. The Premium segment targets clients who are in the process of building their assets, offering a personal relationship manager. Private Banking clients receive a dedicated private banker along with investment specialists. The UHN segment is tailored for large fortunes and families, focusing on comprehensive wealth planning, governance, and succession, as reported by finews.com.
A crucial aspect of this renewed strategy is its international dimension. BBVA maintains three international platforms – in Spain, the United States, and Switzerland (with its Zurich unit) – to provide cross-border services like position consolidation and investment advice. David Conde, CEO of BBVA in Switzerland, noted that for international clients, “wealth rarely fits neatly within one geography,” with investments, businesses, and family members often spread across multiple countries. The Swiss unit’s role is to navigate this complexity with a global perspective.
Beyond Financial Services
Global Wealth extends beyond traditional financial management, incorporating an offering designed to support clients across other dimensions of their lives. This includes experiences linked to areas such as sport, art, culture, and health. The model also provides specific solutions for business-owning families and other offerings aimed at supporting the family as a whole, ensuring a comprehensive approach to client well-being.
