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The 25 biggest private banks in the world

Despite the political upheaval of 2016, private banks across the globe saw their assets under management increase by almost 4% on average.

According to a report by Scorpio Partnership, this year the largest 25 firms managed over $13.3 trillion in high net worth client's assets, with seven of the top focusing on North American clients.

Asia's private banks also gained momentum, as Bank of China entered the ranking this year.

European banks on the other hand experienced some negative assets under management growth due to a combination of internal restructuring initiatives, decisions to scale back from non-core markets and reputational challenges, the report found. For example, Deutsche Ban dropped five places in 2016 in comparison to 2015.

Scorpio found that cost-to-income ratios also fell below 80% for the first time since 2012, reflecting wealth managers' efforts to cut costs despite continued compliance pressures, but strong profitability masked an underlying struggle to improve revenue, with operating income rising just 0.04% on average.

‘The challenge going forward will be managing the revenue side of the profits equation’, said Caroline Burkart, director at Scorpio Partnership.

‘These firms are experiencing pricing pressure, driven by regulations, the trend for passive investing and the wave of lower-fee competitor models entering the market. Solving the equation will require increased focus on enhancing the proposition with advisory capabilities and improvements to the client experience.’

Click through to the Global Private Banking Benchmark Report’s breakdown of the 25 global private banks with the most assets under management.

*the year-on-year AUM percentage growth figure is not necessarily reflective of the AUM rise or fall in USD indicated in the following slides as certain companies report in other base currencies, including CHF, CAD, EUR and CNY..

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