ubs-still-top-private-bank-says-scorpio

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 of $1,310 billion, and Merrill Lynch with $1,100 billion.

Overall, American firms dominate the rankings. Morgan Stanley in particular raced up the list for banks targeting clients with $1 million, becoming the number-two institution in...
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