The global private banking industry manages over $4.6 trillion and, after declines in the past few years, has seen asset management growth rev up to 15% in local currency terms, a return to the heady days of the late 1990s, according to London-based research firm Scorpio Partnership. This reflected both improved market valuations as well as an influx of money from new and existing clients.
UBS continued to lead its ranking of private banks by AUM, reporting $1.031 trillion of high net worth client assets at the end of 2003, representing a year-on-year growth of 8.9% in Swiss franc terms and 26% growth in US dollar terms, thanks to the...
