The Rewind: Private Banks in 2016
Is the Private Banking landscape changing forever and for the better? 2016 is perhaps not the year to discuss about the future of Private Banking. Instead, Mergers & Acquisitions (M&As) and consolidations seems to dominate Private Banking discussion.
More:
- Top 5 Most Shocking News in 2016
- 7 Shocking Deals that shake-up Private Banking in Asia
- 5 Shocking Deals that shake-up Private Banking in Asia
While we are busy getting these news from mainstream media and, there are plenty of growth stories unnoticed. We bring to you a quick rewind of Private Banks in 2016:
No. 1 Which Private Banks were Acquired in 2016?
Since 2008, Merrill Lynch was acquired by Bank of America while OCBC Bank notably acquired ING Private Banking, merging all Private Banking activities under Bank of Singapore. Macquarie Private Bank and Societe Generale Private Banking were acquired by Julius Baer and DBS Private Bank respectively. Julius Baer continued its expansion with the completion of Merrill Lynch Non-United States International Wealth business in 2015.
In 2016, more Private Banking acquisitions were announced or completed.
- BSI Singapore acquired by EFG International
- Coutts International acquired by Union Bancaire Privee
- Barclays Asia acquired by Bank of Singapore
- ANZ (Wealth & Retail Banking – SG, HK, CN, TW, IN), acquired by DBS
- ABN AMRO Private Banking Asia acquired by LGT (Updated 6th December 2016)
- 7 Shocking Deals that shake-up Private Banking in Asia
- 5 Shocking Deals that shake-up Private Banking in Asia
No. 2 Which Private Banks Exited the Private Banking Landscape in Asia?
Not all Private Banks choose to remain in Asia. With increased competition and regulations, DZ Privatbank decided to withdraw their Private Banking business activities in this region, and will be referring their clients to Bank of Singapore.
Falcon Private Bank was an unfortunate casualty of the 1MDB transactions. Monetary Authority of Singapore (MAS) forced the Private Bank to cease operations in Singapore.
No. 3 Which Private Banks are Growing Under the Radar?
While much of the spotlight had been on UBS, Julius Baer, DBS Private Bank and Bank of Singapore, many Private Banks are growing or shaping their growth strategies in Asia.
10 Private Banks to Watch in the Next 5 years (Alphabetical Order):
- Bank of China
- Bordier & Cie
- CTBC
- LGT
- Lombard Odier
- Rothschild Private Bank
- HL Bank
- Union Bancaire Privee
- UOB Private Bank
- Vontobel
Did You Know:
Bank of China is the world’s top 5 largest bank by assets. They have more than 300,000 employees. Wells Fargo, the largest bank in the world (by assets) has more than 260,000 employees. In comparison, UBS has more than 60,000 while DBS has over 20,000 employees.
No. 4 Which are the Biggest Private Banks by AUM in Asia?
In a Private Banking AUM Report released in 2016 by Asian Private Banker, UBS remained the largest Private Bank in Asia.
| Rank | Private Bank | 2015 AUM |
| 1 | UBS | $274 Billion |
| 2 | Citi* | $210 Billion |
| 3 | Credit Suisse | $150 Billion |
| 4 | HSBC | $112 Billion |
| 5 | Julius Baer | $75 Billion |
| 6 | DBS** | $75 Billion |
| 7 | Morgan Stanley | $72 Billion |
| 8 | Deutsche | $66 Billion |
| 9 | JP Morgan | $65 Billion |
| 10 | BNP Paribas | $64.5 Billion |
Source: Asian Private Banker
- * Includes Citigold and Citi Private Client
- ** Includes DBS Treasures Private Client
Join us in the 2016 Rewind:
- The 2016 Ultimate Rewind
- Top 5 Most Shocking News in 2016
- The Rewind: Private Banks in 2016
- Top 50 People Moves in 2016
- Top 5 Professionals Who Left Private Banking in 2016
- Top 10 Research Publications in 2016
- The Rewind: Fund Management in 2016
- Top 10 Most Popular Articles in 2016
- Top 20 Most Popular Articles in 2016
- Top 10 Most Popular Videos in 2016
- Top 50 Most Memorable Photos in 2016
- Photoshot of the Year 2016
- Top 30 Headlines in 2016
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