Surveys
US, European Wealth Managers Dominate Top-10 Rankings By AuM
Despite rapid economic growth, Asia does not yet have a top-10 private wealth management institution to rival those of the US and Europe.
Swiss, American and other continental European banks dominate the
top-10 rankings of the world’s largest wealth managers, showing
that the fast-growing Asia region hasn’t yet produced a firm to
rival the likes of Zurich-listed UBS, new figures show.
The world’s 25 largest private wealth managers grew their assets
under management by 5.5 per cent in 2016, compared to a growth
rate of 2.9 per cent a year previously, according to the Global
Private Wealth Managers AUM Ranking revealed by research and
consulting firm GlobalData this week.
UBS, with AuM of more than $2 trillion, is the global leader,
while Bank of America Merrill Lynch and Morgan Stanley stand in
second and third place, respectively. These are followed by
Credit Suisse (4); JP Morgan (5); Goldman Sachs (6); Citi Private
Bank (7); BNP Paribas (8); Julius Baer (9) and Northern Trust
(10).
The highest-ranked Asia bank, at 11th place, is China Merchants
Bank, the figures showed.
In 12th place is Wells Fargo; Deutsche Bank Wealth Management is
next (13), followed by HSBC Private Bank (14); Santander (15);
Pictet (16); ABN AMRO (17); ICBC (18), Bank of China (19), and
Crédit Agricole (20).
The past few years have seen consolidation activity in some
markets. In Asia, for example, local players such as OCBC and DBS
have bought private banking arms of non-domestic players such as
ANZ, ABN AMRO, Barclays and Societe Generale.
The report was also produced by Private Banker
International.
