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The 25 biggest private banks in the world

Scorpio Partnership has released its annual Global Private Banking benchmark highlighting the world's biggest private banks by assets under management.

Private banks successfully navigated regulatory and political upheaval last year with assets under management (AUM) up by almost 4% on average, according to Scorpio Partnership.

In its Global Private Banking Benchmark report, Scorpio Partnership said 2016 was a tale of two halves for the global wealth industry, as 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.’

We highlight the top 25 private banks by assets under management in the benchmark.

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Private banks successfully navigated regulatory and political upheaval last year with assets under management (AUM) up by almost 4% on average, according to Scorpio Partnership.

In its Global Private Banking Benchmark report, Scorpio Partnership said 2016 was a tale of two halves for the global wealth industry, as 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.’

We highlight the top 25 private banks by assets under management in the benchmark.

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25. Crédit Industriel et Commercial (CIC)

AUM 2016: $133.61 billion (£102.34 billion)

Year-on-year growth: 4.1%

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24. Bank of China

AUM 2016: $143.99 billion (£110.35 billion)

Year-on-year growth: 23.46%

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23. Crédit Agricole

AUM 2016: $160.33 billion (£122.88 billion)

Year-on-year growth: 0.9%

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22. Industrial and Commercial Bank of China (ICBC)

AUM 2016: $174.23 billion (£133.51 billion)

Year-on-year growth: 13.81%

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21. BNY Mellon

AUM 2016: $204.6 billion (£156.76 billion)

Year-on-year growth: 6.67%

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20. Safra Sarasin Group

AUM 2016: $208.4 billion (£159.72 billion)

Year-on-year growth: 7.31%

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19. Santander

AUM 2016: $214.82 billion (£164.6 billion)

Year-on-year growth: 9.36%

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18. ABN AMRO

AUM 2016: $215.56 billion (£165.16 billion)

Year-on-year growth: 2.86%

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17. HSBC

AUM 2016: $222 billion (£170.08 billion)

Year-on-year growth: -14.94%

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16. Deutsche Bank

AUM 2016: $227.24 billion (£174.09 billion)

Year-on-year growth: -25.52%

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15. China Merchants Bank

AUM 2016: $238.96 billion (£183.07 billion)

Year-on-year growth: 32.54%

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14. Pictet

AUM 2016: $246.32 billion (£188.68 billion)

Year-on-year growth: 5.91%

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13. Northern Trust

AUM 2016: $248.4 billion (£190.35 billion)

Year-on-year growth: 9.28%

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12. BMO Financial Group

AUM 2016: $301.82 billion (£231.25 billion)

Year-on-year growth: 1.94%

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11. Julius Baer

AUM 2016: $323.9 billion (£248.2 billion)

Year-on-year growth: 11.96%

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10. BNP Paribas

AUM 2016: $361.9 billion (£277.25 billion)

Year-on-year growth: 5.2%

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9. Goldman Sachs

AUM 2016: $413 billion (£316.44 billion)

Year-on-year growth: 11.92%

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8. JP Morgan

AUM 2016: $435 billion (£333.43 billion)

Year-on-year growth: -0.46%

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7. Citi

AUM 2016: $452 billion (£346.32 billion)

Year-on-year growth: 2.96%

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6. Credit Suisse

AUM 2016: $719.33 billion (£551.29 billion)

Year-on-year growth: 7.64%

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5. Royal Bank of Canada

AUM 2016: $791.13 billion (£606.16 billion)

Year-on-year growth: 13.76%

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4. Wells Fargo

AUM 2016: $922 billion (£706.44 billion)

Year-on-year growth: 10.95%

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3. Morgan Stanley

AUM 2016: $1,950 billion (£1,494.48 billion)

Year-on-year growth: 6.21%

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2. Bank of America

AUM 2016: $1,971.97 billion (£1,511.32 billion)

Year-on-year growth: 1.55%

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1. UBS

AUM 2016: $2,068.67 billion (£1,585.01 billion)

Year-on-year growth: 6.36%

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