Market Overview

Private Banker International Reveals Drop in Assets Under Management in Asia for 2011 Despite Buoyant Market

- Private Banker International's Top 20 Asia-Pacific AuM Benchmark reveals a drop in assets under management.
- Foreign banks still dominate the rankings with 11 out of 16 of these reporting AuM that remained static or fell in 2011.
- Citi regained its leading position increasing AUM by 8% to $193bn. UBS and HSBC follow in second and third respectively.

Singapore / London, Oct 24, 2012 - (ACN Newswire) - Private Banker International's Top 20 Asia-Pacific AuM Benchmark, a survey of the region's leading private banks released today reveals that assets under management (AuM) growth in Asia-Pacific flatlined in 2011 in dollar terms, dropping from $1,105bn to $1,099bn.

Nicholas Moody, editor of Private Banker International comments: "The fall in aggregate AuM growth in Asia-Pacific hit foreign banks particularly badly, while the Asia-based banks held up well. This could perhaps be an indication that local banks are gaining confidence of investors in the region."

The study, which ranked banks by AuM for HNW clients with investable assets of more than $1m, shows that global banks continue to dominate the top spots. Assets managed by the four Asia-based banks represent only 11.6% of total assets in the Top 20.

Citi is the biggest riser. It regained its leading position increasing AuM by 8% to $193bn. UBS and HSBC follow in second and third respectively.

The biggest drop came from HSBC which fell 14% to $129bn, though this could have been linked to its sell-offs of non-core parts of its wealth businesses, notably Japan (although Japan's AuM loss was understood to be worth about $3bn).

Moody added: "DBS remained the highest ranked Asian-headquartered private bank with $39bn in AuM, although Standard Chartered and Bank of Singapore are breathing down its neck."

He further added that "Universal banks, particularly with strong retail offerings, have a clear advantage in the rankings and also are ahead in the race to target those HNWIs with $1m - $5m - a core segment for Asian private banks."

This year's ranking confirms that although Asia's total wealth market is growing significantly, the largest private banks and wealth managers can't expect client assets to fall into their laps. They must work smarter and think more innovatively to win over a sophisticated set of HNW investors.

"The high operating costs and jittery investors mean that the wealth management industry is heading towards the survival of the fittest in the race for global wealth," said Moody.

For further details on how to purchase the report or for more information please call Jerard Lee on +65 6383 4688 or email

Private Banker International Asia-Pacific AuM Benchmark 2012

- Region's top 20 private banks AuMs flatlines
- Asia-Pacific assets under management of HNW clients* ($ bil)

2012 Bank 2011 2010
1 Citi (1) 193 179
2 UBS 179 182
3 HSBC 129 150
4 JP Morgan 105 111
5 Credit Suisse 89 84
6 Bank of America/Merrill Lynch 46(e) 51(e)
7 Deutsche Bank PWM 43 39
8 BNP Paribas WM 40 40
9 DBS 39 35
10 Standard Chartered Private Bank 35 32
11 Bank of Singapore 32 32
12 Julius Baer 30 27
13 Barclays 25 25(e)
14 Hang Seng Bank 21(e) 20(e)
15 Morgan Stanley 20(e) 20(e)
16= Coutts 15 17(e)
16= Societe Generale Private Banking 15(e) 15(e)
16= RBC Wealth Management 15 13(e)
19= ABN AMRO 14 18
19= EFG International 14 15
Total 1099 1105

* HNW clients are those with investable assets of >$1 million.
Includes private banks active in Singapore and Hong Kong centres.
(e) Estimates
(1) Includes Citi Private Bank clients and HNW Citigold clients.
* Figures not available for Goldman Sachs, Chinese private banks
not included as most operate largely onshore Chinese businesses.
* Exchange rates as of 31 Dec 2011 and 31 Dec 2010.
* Sources: Banks, annual reports, media reports, Private Banker

AGGREGATE AuM - 20 leading Asia-Pacific private banks AuMs flatlines
Year ($ billion)
2011 1099
2010 1105

( Source: Private Banker International )

About Private Banker International

Private Banker International is the leading journal for the global wealth industry. Launched in 1987, it is the longest established international wealth industry title and has won a reputation as a cutting-edge working tool for private bankers, relationship managers and other industry professionals. For more information, please visit

Source: Private Banker International

Titien Ahmad (Ms)
Regional Director, Asia Pacific
Tel: +65 6383 4688 
HP: +65 9478 6908

Rosemary Pang (Ms)
Media Relations
Tel: +65 6383 4688
HP: +65 9477 1545

Copyright 2012 ACN Newswire. All rights reserved.

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