Private banking assets over $2t in Asia for 2017
(13 April 2018 – Asia) Asian private banking assets passed the $2t mark in 2017 to settle at $2.01t assets under management, according to data from Asian Private Banker.
Private banking wealth in the region grew 40.3 percent compared to international private banks which grew only 27.1 percent in the year to 2017. The growth was driven primarily by Chinese private banks who saw a 25.5 percent increase in assets.
“A sustained market rally and robust client activity in 2017 translated into a year of gains for Asia’s private banks,” the report said.
UBS wealth management continues to lead the ranking of the biggest firms in terms of assets held after publicly reported figures estimate its AUM at $382.7bn. Citi, Credit Suisse Private Banking, HSBC and Julius Baer round out the top five.