OREANDA-NEWS. December 02, 2009. Rietumu has won in the category of the Best Private Bank in the CIS and the Baltic States in respect to customers from Russia. This has been the first time for a Baltic bank to win awards held by a respectable Russia magazine focusing on private banking & wealth management, reported the press-centre of Rietumu. 

SPEAR’S Russia Wealth Management Awards is the first specialized awards ceremony in Russia held to determine the best representatives of private banking, wealth management and related industries. SPEAR’S Russia Wealth Management Awards is organized by tradition and analogy with the awards ceremony annually held in London by SPEAR’S UK.

The nominees were selected by SPEAR’S Russia, which is the Russian version of the most trustworthy and influential UK magazine for the world’s richest people. The Judging Panel for SPEAR’S Russia Wealth Management Awards 2009 consisted of banking executives, professional investors, financial advisers as well as representatives of business associations from Russia and other countries. PricewaterhouseCoopers as the Independent Consultant monitored the voting process.

The nominee short list was created by the Organizing Committee on the basis of votes by top managers of Russian and foreign banks, wealth management firms and related companies, which were asked to select best candidates out of nominee long list, consisting of largest banks and financial corporations both Russian and foreign.

The short list was formed based on the votes by 118 top managers, executives and businessmen. Initially 7 banks from the Ukraine, Kazakhstan and Latvia were nominated in the category of the Best Private Bank in the CIS and the Baltic States in respect to customers from Russia.

Among winners in other nominations are leading financial organizations from Russia and Europe, such as Alfa-bank, Credit Suisse, Pictet & Cie, HSBC Private Bank, Deloitte & Touche etc.

“The winning of SPEAR’S Awards is a great success and a big honour for Rietumu. The Judging Panel’s voting represents the acknowledgment of Rietumu business values and philosophy of relationship-banking. It has been especially pleasant to receive this award for business achievements on the Russian market, which is highly important for us”, said Alexander Kalinovski, Chairman of the Executive Board, President of Rietumu.  

The winners of SPEAR’S Russia Wealth Management Awards were announced at the awards ceremony, held at Ararat Park Hyatt Moscow Hotel.