The private wealth management industry had a strong year in 2017 with 25 of the leading global players increasing their assets under management (AUM) by almost 14%, as the number of high net-worth individuals and affluent investors has continued to grow.
UBS tops the rankings with $2,402.8 billion AUM, over double that of its closest rival. China Merchants Bank also entered the top 10 in 2017 and was the first Chinese bank ever to do so.
Much of this success is the result of greater wealth across the Asia-Pacific region and growing interest in professional management by the high-net worth individuals there. This meant Chinese growth was about 3.5% higher then the rest of the top wealth managers, according to the research by GlobalData and Private Banker International.
Deutsche Bank, EFG International and ABN Amro were the only wealth managers in the ranking to lose ground in 2017.