Swiss private bank UBS retains its pole position with USD293.3 billion AUM, followed by Citi (which includes AUM from both its priority and private banks) and Credit Suisse.
Bank of Singapore climbed four spots, mainly due to the completion of its acquisition of the UK’s Barclays Wealth in both Singapore and Hong Kong – which helped to significantly improve its AUM.
So, why are private banks so focused on AUM as well as size – and should these matter to you?
According to UBS, economy of scale is one way size benefits investors. In fact, it believes that this is their “clear strategic differentiator”.
Big private banks provide a wider range of services to meet your needs
“Most of our Asian wealth management clients are business owners who are often interested in corporate activities for their businesses, so – beyond having a big balance sheet to lend – they will be looking for banks with the capabilities to execute corporate transactions,” UBS reveals.
With strong footprints globally and within the region, a major bank such as UBS is able to execute large asset sales, mergers and acquisitions, IPOs as well as other capital-raising activities for clients.
“This is crucial as we are seeing the first handover of wealth in Asia – around 460 billionaires in the markets covered are expected to pass USD2.1 trillion to the next generation in the next 20 years,” UBS discloses.