Study: Which bank is right for "Miss Moneypenny"?

May 2025

Insights into the BILANZ Private Banking Rating 2025 - conducted with mystery shopping and scientific expertise from the University of Zurich.

The quality of a private bank is often difficult for external observers to assess. This makes a well-founded, objective evaluation process all the more important.

As part of the Private Banking Rating 2025 of the business magazine BILANZ, the following procedure was used: mystery shopping in combination with a professional evaluation by a jury headed by Prof. Thorsten Hens, Professor of Financial Markets at the University of Zurich.

At the center of the mystery shopping was a real test customer who gave herself the alias “Miss Moneypenny”. She is a wealthy 70-year-old widow with CHF 20 million in liquid assets. She was looking for a bank that would help her build up her assets over the long term and at the same time allow her to withdraw one million francs a year.

The jury evaluated the proposals submitted in four key categories:

• Investment strategy
• Cost structure
• Transparency
• Dealing with risks

Bank von Roll emerged as the overall winner in the latest rating. It impressed with its closed portfolio approach, which focuses on holistic risk management instead of segmented “pot models”. This decision was unanimous and was commented on by Prof. Hens as follows:

“Didactic models such as the pot model can be helpful - but they are not scientifically necessary.”—Thorsten Hens

Another plus point was the deliberate gold weighting of ten percent in the portfolio - higher than the bank's own tactical model. The jury praised this conservative approach as forward-looking and stabilizing in the face of current market uncertainties.

In addition to the investment strategy, the bank also impressed with its corporate structure: independent, without lending, and with an equity ratio of over 30%. With around 30 employees and assets under management of around two billion Swiss francs, the bank focuses on individual solutions for its clients.

Professor Hens, you conduct research in the field of financial economics and you assess private banks in Switzerland on behalf of BILANZ. Why is such a rating important?

Private banking services are difficult to compare. A transparent evaluation procedure provides orientation for customers - and at the same time promotes quality development in the banking sector.

What has changed in recent years?

We are seeing a professionalization of advisory services, but also a stronger focus on sustainability and regulatory requirements.

How does the Swiss private banking sector compare internationally?

Switzerland is still the leader - both in terms of wealth management expertise and trustworthiness. But competition is increasing, especially from Asia and the Anglo-American region.

What does the private banking of the future look like?

Digitalization, individualization and sustainability will remain key topics. At the same time, the demand for transparency and risk management is increasing - for both banks and clients.

Thank you, Professor Thorsten Hens, for your time and insights!

More information:

Article in Handelszeitung (Paywall)
https://www.handelszeitung.ch/bilanz/long-read/bank-von-roll-siegt-im-private-banking-ranking-815848