Private banking AUM growth turns north

Assets under management at global private banks grow at 15%, a return to late 1990s levels, says Scorpio Partnership.

The global private banking industry manages over $4.6 trillion and, after declines in the past few years, has seen asset management growth rev up to 15% in local currency terms, a return to the heady days of the late 1990s, according to London-based research firm Scorpio Partnership. This reflected both improved market valuations as well as an influx of money from new and existing clients.

UBS continued to lead its ranking of private banks by AUM...

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