Bessemer Trust was rated as the most prestigious wealth management firm among private banks according to the 2007 Luxury Brand Status Index published by the New York-based Luxury Institute.

In an online survey of 525 ultra-wealthy US consumers, with an average income of $775,000 and average net worth of $14.4 million, Bessemer scored highest among all wealth management segments rated. Glenmede Trust was rated second and scored higher in several categories. Credit Suisse Private Client was rated third.

"Based on feedback from wealthy consumers and industry experts this year, for the first time, we segmented wealth management firms among three groups: Private Banks, Commercial Banks and Regional Banks," said Milton Pedraza, chief executive officer of the Luxury Institute.

"Among the true private banks, whether they reside in larger financial services institutions, or are boutiques, Bessemer is rated highest overall for a third straight year, by the only 'experts' that matter - wealthy consumers."

Private bank brands rated in the LBSI were: Bear Stearns, Bernstein Global Wealth Management, Bessemer Trust Company, Boston Private Bank and Trust, Charles Schwab, Credit Suisse Private Client, Deutsche Bank Alex Brown, Fidelity Investments, First Republic Bank, Glenmede Trust, Goldman Sachs, JP Morgan Private Bank, Lehman Brothers, Merrill Lynch, Morgan Stanley Private Wealth Management, Neuberger Berman, Northern Trust, Smith Barney, UBS Wealth Management, US Trust, and Vanguard.