The survey reflects the opinions of both advisers to private clients and other wealth management companies. The survey also takes into account a wide range of factors including assets under management, profitability, ratio of clients to relationship managers and the services offered.

The results of the survey, which is a benchmark poll for the industry, were announced this week and include an impressive list of the world’s best private banks, fund and investment management houses, and private client stockbrokers. The survey provides a qualitative and quantitative review of the best services in private banking, organized by region and areas of service.

Whilst Deutsche Bank has featured in the top end of the rankings in the Channel Islands section since the listings were started in 2003, this is the first time the Bank has been named in the top spot.

The award comes at a particularly significant time for Deutsche Bank, which is celebrating its 35th anniversary in the Channel Islands this year, with a number of celebratory events planned throughout the year.

It is also an important time for Deutsche Bank in Cayman, which is continuing to build on its range of specialist services this year through the expansion of solutions available to the Cayman Captive Insurance market.

Deutsche Bank Offshore Group has operations in Jersey, Guernsey, Cayman and Mauritius. It employs more than 450 staff.

Mark Hirst, Chief Executive, Deutsche Bank Offshore Group, commented: “It is very pleasing to win this award and to be recognised by advisers of private clients. To be named at the top of the rankings in this prestigious survey is a tribute to the staff in the Channel and Cayman Islands. This award serves to highlight the Bank’s commitment to client service and care, which is at the centre of all we do. It is also fitting that this success comes at such a milestone in Deutsche Bank’s history in both the Channel and Cayman Islands.”

Deutsche Bank International Limited was established in 1972 when offices of Morgan Grenfell were opened in Jersey and Guernsey and provides a full range of banking and custody, portfolio management, corporate and fiduciary services to a wide range of intermediaries, corporates, institutions and high net worth clients, locally and internationally.

The offshore group operates a geographic franchise on behalf of its parent, Deutsche Bank AG, and maintains offices in Cayman, Delaware, Guernsey, Jersey, Ireland, Luxembourg, Mauritius, the Netherlands and Switzerland supplemented by a representative presence in Hong Kong, New York and Singapore.

Globally, Deutsche Bank has risen from 12th to 6th Place in the Euromoney Private Banking Survey 2007.