Fidelity Private Banking Wins Financial Times “Best Private Bank Award 2014”

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Fidelity Private Banking, a Division of Fidelity Bank Plc. has been recognized as the “Best Private Bank in Nigeria 2014” in the Global Private Banking Awards organized by Professional Wealth Management (PWM) and The Banker magazines, publications of the Financial Times Group, one of the world's leading business news and information organizations. This was announced at the 6th Annual Global Private Banking Awards which took place in Geneva, Switzerland on Wednesday, October 29th over a gala dinner.
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Speaking after the award ceremony in Geneva, Managing Director/Chief Executive Officer, Fidelity Bank Plc. Nnamdi Okonkwo said that the award is a recognition of excellence, achieved through commitment to the ideals of Fidelity Bank and noted that it is in line with the bank’s vision: To be No.1 in every market we serve and every branded product we offer.  Okonkwo who was represented by the Executive Director, Corporate Banking, John Obi pointedly said that the award simply translates to walking the talk. “It is a joyful moment for me that my team was recognized as the best in Nigeria. It is a fulfillment of destiny for the Bank. This is the type of goodwill that money cannot buy. No amount of advert can attract such reward”.

While not under estimating competition in the industry, Okonkwo disclosed that the bank has put in place measures to continually improve its services and stay ahead of competition. “Getting to the top is a lot easier than retaining same position. Private Banking team is already working closely with our Strategy, Innovation & Business Transformation unit to ensure we maintain our top spot come 2015 and beyond”. He stressed that the bank is already focusing on the areas it needs to improve, while not losing sight of the areas it scored high. “I mean the criteria used in determining the winner. Needless to say, that we should remain creative and stay ahead of competition!” He paid tribute to staff and management of the Bank for their support and customers for their patronage and loyalty to the Bank.

It is significant to mention that this year is the first time the organizers considered the Nigerian market in their Annual Global Private Bank Award which covers Europe, Asia, North America, Middle East, Latin America and Africa with Fidelity Private Banking beating other Nigerian Private Banks to become the first ever Private Bank in Nigeria to place its brand on the award’s nameplate.

How services are delivered was a key factor considered by the independent panel in the one-month intensive judging process for the awards. This involved gathering series of detailed information on KPIs, portfolio management, asset allocation, due diligence, risk management, growth strategies, customer service, innovation and ethical factors.

PWM, the organiser of the award said that excellent service delivery was a key component of the criteria considered by the independent panel in the one-month intensive selection process for the awards. This involved gathering series of detailed information on KPIs, portfolio management, asset allocation, due diligence, risk management, growth strategies, customer service, innovation and ethical factors. Scorpio Partnership, a leading market research and strategy consultancy firm handled the qualitative analysis which was instrumental in deciding the winning bank.

Fidelity Private Banking has been in existence since 1996 with presence in Lagos and Abuja. Notable for its strong brand and high service standards, they cater for needs of the high net-worth individuals in the society whose needs are peculiar and can be complex. They ensure their financial objectives are met by preserving their wealth for future generations.