SOURCE: Luxury Institute

July 12, 2007 11:00 ET

Luxury Institute Survey: Ultra-High Net-Worth Consumers Rate Deutsche Bank Private Wealth Management, HSBC Private Bank, and JP Morgan Private Client Services the Most Prestigious Wealth Managers

in the Commercial Banks Segment

NEW YORK, NY--(Marketwire - July 12, 2007) - Ultra-high net-worth consumers with a minimum net-worth of $5 million and $200k annual income rated Deutsche Bank Private Wealth Management the most prestigious wealth management firm among commercial banks in the 2007 Luxury Brand Status Index (LBSI) survey from the independent New York City-based Luxury Institute ( HSBC Private Bank, and JP Morgan Private Client Services were a close second and third, respectively.

"Based on feedback from wealthy consumers and industry experts, this year for the first time we segmented the wealth management firms among three groups: Private Banks, Commercial Banks and Regional Banks," said Milton Pedraza, CEO of the Luxury Institute. "Among the large commercial banks, Deutsche Bank Private Wealth Management is rated highest, overall, by those who vote with their assets -- wealthy consumers. There are many options in wealth management today, and some wealthy consumers prefer the larger entities for their broad reach and ancillary services. Both wealthy consumers and wealth managers tell us that they need to hear the voice of high net-worth consumers directly, particularly where they rank within their competitive set."

Commercial bank brands rated (alphabetical order): Bank of America Private Bank, Citigroup Private Bank, Deutsche Bank Private Wealth Management, HSBC Private Bank, JP Morgan Private Client Services, Wachovia Wealth Management, and Wells Fargo Private Client Services.

The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the reputation of leading brands among wealthy Americans. A national sample of over 525 ultra-wealthy American consumers, with an average income of $775K, and average net-worth of $14.4 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (, the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to

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