It is estimated that the bank’s AUM for high net worth investors in the region rose to $286.5bn in 2016 from $275bn in 2015.
In total, AUM for the top 20 private banks in Asia-Pacific rose 4.5% to $1.53trn.
There were no changes in rank among next four banks, which include Citi Private Bank, Credit Suisse and HSBC Private Bank.
However, there were several noteworthy changes across the rankings. OCBC Bank’s Bank of Singapore saw the biggest change in AUM, surging by 43.6%. The change made the bank’s ranking jump to seventh place in 2016 from eleventh place the previous year.
Bank of Singapore has been active in acquiring private banking businesses and clients. In May, the National Australia Bank announced the sale of its private wealth business in Singapore and Hong Kong to OCBC. In November last year, it completed its acquisition of Barclay’s wealth management. DZ Privatbank also referred its clients to Bank of Singapore as it shut down its branch in the Lion City.
Another firm with a huge increase in assets was Goldman Sachs. AUM rose by 34.6%, making it the tenth biggest private bank in the region. In 2015, it was ranked number 12.
However, not all private banks saw their AUM increase. HSBC Private Bank, Deutsche Wealth Management, Standard Chartered Private Bank and EFG Private Bank were among the firms that saw their AUM dip.
Top 20 private banks by Asia HNW AUM
|
Rank |
Firm |
2015 AUM ($bn) |
2016 AUM ($bn) |
Change ($bn) |
Change (%) |
|
1 |
UBS Wealth Management |
275 |
286.5 |
11.5 |
4.18% |
|
2 |
Citi Private Bank |
210 |
218 |
8 |
3.81% |
|
3 |
Credit Suisse |
152 |
163.9 |
11.9 |
7.83% |
|
4 |
HSBC Private Bank |
112 |
108 |
-4 |
-3.57% |
|
5 |
Julius Baer |
75 |
82.5 |
7.5 |
10.00% |
|
6 |
DBS Private Bank |
79 |
81.2 |
2.2 |
2.78% |
|
7 |
Bank of Singapore |
55 |
79 |
24 |
43.64% |
|
8 |
Morgan Stanley Wealth Management |
72 |
74 |
2 |
2.78% |
|
9 |
BNP Paribas Wealth Management |
64.5 |
73.5 |
9 |
13.95% |
|
10 |
Goldman Sachs |
52 |
70 |
18 |
34.62% |
|
11 |
JP Morgan Private Bank |
65 |
68 |
3 |
4.62% |
|
12 |
Deutsche Bank Wealth Management |
56 |
47.4 |
-8.6 |
-15.36% |
|
13 |
Standard Chartered Private Bank |
45 |
44 |
-1 |
-2.22% |
|
14 |
LGT Private Bank |
25 |
29.1 |
4.1 |
16.40% |
|
15 |
UOB Private Bank |
20 |
25 |
5 |
25.00% |
|
16 |
Hang Seng Bank |
25 |
25 |
0 |
0.00% |
|
17 |
EFG Private Bank |
16 |
15.1 |
-0.9 |
-5.63% |
|
18 |
J. Safra Sarasin |
15 |
15.3 |
0.3 |
2.00% |
|
19 |
UBP |
N/A |
11.8 |
– |
– |
|
20 |
Bank of China |
N/A |
10 |
– |
– |
| Total |
1,461.1 |
1,527.3 |
66.2 |
4.53% |
