Here is our list of the largest and best wealth management firms or top companies in global private banking ranked by AUM. The top 10 wealth managers include five U.S. banks and three Swiss banks.
UBS Group tops the list with AUM of $2.432 trillion in global wealth management. The company is the largest wealth manager in the Asia Pacific region, the second largest in Latin America and the fourth largest in the United States. With about 24,000 employees, the Group's Global Wealth Management (GWM) division provides high-quality private banking and wealth management products and services to high net worth and ultra high net worth individuals and families worldwide as well as affluent customers in some markets. In 2018 GWM’s net interest income reached $4.3 billion.
Bank of America GWIM ranks 2nd in the list with assets under management of $1.1 trillion. The Global Wealth & Investment Management (GWIM) division comprises two main business lines: Merrill Lynch Wealth Management and U.S. Trust, Bank of America Private Wealth Management. Merrill Lynch Wealth Management has over 14,000 financial advisors and serves affluent and high-net-worth individuals with investable assets of $250,000 or more. Bank of America Private Bank provides services to wealthy and ultra-high net worth clients with assets of more than $3 million.
Morgan Stanley is the third largest wealth manager in the world with AUM of $1.1 trillion in wealth management. Through a network of over 16,000 financial advisors, it serves about 3.6 million customers worldwide. In 2018, the Bank’s wealth management segment generated net revenue of $17.24 billion and profit before tax of $4.52 billion. For the first quarter ended March 31, 2019, revenue was $4.4 billion.
|Rank||Wealth Manager||HQ Location||AUM, US$B||Balance sheet|
|1||UBS Global Wealth Management||Switzerland||2,432||03/2019|
|2||Bank of America GWIM||US||1,126||03/2019|
|3||Morgan Stanley Wealth Management||US||1,116||03/2019|
|5||J.P.Morgan Private Bank||US||597.0||03/2019|
|7||Citi Private Bank||US||460.0||01/2019|
|8||BNP Paribas Wealth Management||France||422.8||03/2019|
|10||HSBC Private Bank||UK||335.0||03/2019|
|11||China Merchants Bank Private Banking||China||296.5||12/2018|
|13||BNY Mellon Wealth Management||US||253.0||03/2019|
|14||Deutsche Bank Wealth Management||Germany||238.9||03/2019|
|16||ICBC Private Banking||China||220.0||12/2018|
|17||Pictet Wealth Management||Switzerland||210.0||12/2018|
|19||DBS Wealth Management||Singapore||169.6||03/2019|
|20||J. Safra Sarasin Bank||Switzerland||165.5||12/2018|
|22||Indosuez Wealth Management *||France||137.7||12/2018|
|23||Union Bancaire Privée (UPB)||Switzerland||127.4||12/2018|
|24||Bank of Singapore **||Singapore||108.0||03/2019|
* Indosuez Wealth Management or CA Indosuez Wealth (Group) is a a subsidiary of Crédit Agricole Corporate and Investment Bank (CA-CIB).
** Bank of Singapore is a private banking arm of OCBC.