Fidelity Private Banking, a Division of Fidelity Bank Plc, has been recognised as the “Best Private Bank in Nigeria 2014” in the Global Private Banking Awards organised 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 organisations. The bank was honoured with the coveted award at the 6th Annual Global Private Banking Awards which took place yesterday, October 29, in Geneva, Switzerland, over a gala dinner.

Speaking after the award ceremony in Geneva, Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo, described the award as a recognition of excellence, achieved through commitment to the ideals of Fidelity Bank. He 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 recognised 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,” he stated.

While not underestimating competition in the industry, Okonkwo disclosed that Fidelity 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 said.

The Fidelity Bank CEO stressed that the bank is already focusing on the areas it needs to improve, while not losing sight of the areas where it scored high. His words: “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 Fidelity Bank’s staff and management for their support and customers for their patronage and loyalty to the bank.

News Express reports that this year is the first time the organisers considered the Nigerian market in their Annual Global Private Bank Award which covers Europe, Asia, North America, Middle East, Latin America and Africa.

As disclosed by the award organisers, 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. Scorpio Partnership, a leading market research and strategy consultancy firm, handled the qualitative analysis which was instrumental in deciding the winning bank. In the end, Fidelity Private Banking beat other Nigerian Private Banks to become the first ever in Nigeria to place its brand on the award’s nameplate.

Fidelity Private Banking has been in existence since 1996 with presence in Lagos and Abuja. Notable for its strong brand and high service standards, their objective is to manage wealth for a select clientele by providing financial solutions that build a strong and enduring foundation for their future generations.

•Photo shows Fidelity Bank’s MD/CEO, Nnamdi Okonkwo.

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