Top 30 Wealth Management Firms

Here's our ranking of the largest wealth management firms or top companies in global private banking. The world's top 10 wealth managers include six U.S. companies and two Swiss financial institutions.

1. UBS Wealth Management

UBS Group tops the list with AUM of $2.6 trillion in global wealth management. The company is the largest wealth manager in the Asia Pacific region, the second largest wealth manager in Latin America and the fourth largest wealth manager 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 to high net worth individuals and families worldwide as well as affluent customers in some markets.

2. Credit Suisse*

Credit Suisse is the second largest wealth manager in the world, with wealth management AUM of CHF 1.2 trillion ($1.25 trillion). The company's wealth management related revenues amounted to CHF 13.6 billion ($15.4 billion) in 2020. It was named Best Bank for Wealth Management in Latin America, Central & Eastern Europe and Asia by Euromoney.

3. Morgan Stanley Wealth Management

Morgan Stanley is the world's third largest wealth manager with AUM of $1.24 trillion in wealth management. Through a network of over 16,000 financial advisors, it serves about 3.6 million customers worldwide. In 2020, the Bank’s wealth management segment generated net revenue of $19.1 billion and net income of $3.4 billion.

4. Bank of America GWIM

Bank of America GWIM ranks fourth in the list with AUM of $1.2 trillion. BofA's Global Wealth & Investment Management (GWIM) division comprises two main business lines: Merrill Lynch Wealth Management and Bank of America Private Bank. Merrill Lynch WM 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.

Rank Company HQ Location Wealth Management AUM
US$b		 Balance sheet
1 UBS Global Wealth Management Switzerland 2,590 06/30/2020
2 Credit Suisse * Switzerland 1,250 06/30/2020
3 Morgan Stanley Wealth Management US 1,236 06/30/2020
4 Bank of America GWIM US 1,220 06/30/2020
5 J.P. Morgan Private Bank US 677.0 06/30/2020
6 RBC Wealth Management Canada 564.0 01/31/2020
7 Goldman Sachs Wealth Management US 558.0 06/30/2020
8 Charles Schwab US 506.3 12/31/2019
9 Citi Private Bank US 500.0 06/30/2020
10 BNP Paribas Wealth Management France 424.0 06/30/2020
11 Julius Baer Switzerland 423.5 06/30/2020
12 Vanguard Group ** US 410.0 01/31/2019
13 HSBC Private Bank UK 353.0 06/30/2020
14 China Merchants Bank Private Banking China 321.0 12/31/2019
15 Northern Trust Wealth Management US 303.8 06/30/2020
16 BNY Mellon Wealth Management US 254.0 06/30/2020
17 Pictet Wealth Management Switzerland 242.0 06/30/2020
18 LGT Group Liechtenstein 240.2 12/31/2019
19 Deutsche Bank Wealth Management Germany 232.0 06/30/2020
20 Bank of China Private Banking China 226.0 12/31/2019
21 Wells Fargo US 224.0 06/30/2020
22 ICBC Private Banking China 219.6 12/31/2019
23 China Construction Bank Private Banking China 213.2 12/31/2019
24 Agricultural Bank of China Private Banking China 198.3 12/31/2019
25 J. Safra Sarasin Switzerland 195.9 12/31/2019
26 DBS Wealth Management Singapore 175.8 12/31/2019
27 Northwestern Mutual US 161.0 12/31/2019
28 EFG International Switzerland 155.8 06/30/2020
29 Indosuez Wealth Management *** France 148.6 12/31/2019
30 Raymond James US 145.4 06/30/2020
31 Union Bancaire Privée (UPB) Switzerland 144.6 06/30/2020
32 Bank of Singapore **** Singapore 117.0 12/31/2019

* Credit Suisse was acquired by UBS Group in 2023.
** AUM for US private clients
*** Indosuez Wealth Management (or CA Indosuez Wealth (Group)) is a subsidiary of Crédit Agricole Corporate and Investment Bank (CA-CIB).
**** Bank of Singapore is a private banking arm of OCBC.

Last updated April 15, 2024