Clarien Bank has been named Best Wealth Management Provider in Bermuda by World Finance magazine.

The bank was one of 40 financial institutions to be honoured.

“We are very honoured to receive this prestigious award and recognition of the unique services Clarien provides to our discerning high net worth clients,” said Clare Spearing, head of private banking at Clarien.

“We pride ourselves on delivering bespoke, personalised solutions that recognise successful wealth management is about building relationships based on trust, integrity and credibility in order to truly understanding the client’s circumstances and objectives.”

In announcing the awards, World Finance stated: “An unpredictable 2016 has reaffirmed the need for wealth managers to be flexible and consider multiple outcomes. The World Finance Wealth Management Awards commend the firms that are ahead of the curve.”

The magazine provides coverage and analysis of the financial industry, international business and the global economy. Its global readership of 120,000 submits nominations for the awards.

Ms Spearing said Clarien’s “depth of proven wealth management experience and expertise in investments, trusts and estate planning, fiduciary services, insurance and banking enable the Bank to provide highly individualised and innovative solutions that can respond quickly to market trends and changing client needs”.

She added: “Since the financial crisis, we have noted clients are increasingly aware and engaged in the process of managing their wealth and there has been a significant trend away from the dominance of global wholesale banks towards more boutique-styled managers as families and individuals gravitate to more tailored solutions.”

Robert Steinhoff, Clarien’s head of investment strategy, said: “We are genuinely passionate about helping clients meet their investment goals.

“Our portfolio approach at Clarien is based on an asset allocation that takes both quantitative and qualitative factors into account.

“Clarien is focused on where to pick the best opportunities for taking risk in order to make a required return. We are able to bring to bear the best global research and investment capabilities on the client’s behalf.

“We make sure portfolios are positioned to persevere in a variety of environments and this includes stress-testing portfolios in stressed environments. We are committed to protecting and growing wealth over generations and through market cycles.”

The awards appear in the January-February issue of World Finance.