UBS still top private bank, says Scorpio

Citigroup and Merrill Lynch also break $1 trillion, says the London-based consultancy.

The global private banking industry has recorded impressive gains in assets under management, with median AUM growth of 18% in base currency terms. This is according to the fifth annual Private Banking Benchmark study by Scorpio Partnership, a London-based consultancy specialising in wealth management.

Although UBS remains the leading provider, with an 8.75% increase in AUM in US dollar terms to $1,319 billion, two other firms have broken the $1 trillion mark Citigroup Global Wealth Management reports a total AUM...

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