UBS Remains World’s Largest Private Bank
UBS retains the title of the world’s largest private bank although their assets under management has fallen 1% over the year. At the end of December last year, UBS was managing US$1.74 trillion down from 1% from 2014.
“UBS retains the title of the world’s largest private bank although their assets under management has fallen 1% over the year.”
Bank of America Merrill Lynch came in second with AUM of US$1.444 trillion down 2% for the year while Morgan Stanley was third with US$1.439 trillion, down 2.8% over the year. The top 25 biggest private banks in the world managed a total of US$11 trillion at the of last year, indicating a 56.3% market share, up from 55.9 per cent in 2014.
Headquartered in Zurich and Basel, the UBS Group is a global firm providing financial services to private, corporate and institutional clients. The UBS Group is present in all major financial centers and has offices in over 50 countries. The UBS Group employs approximately 60,000 people around the world. The UBS Group’s historical roots stretch back more than a century.
About Bank of America Merrill Lynch
Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. As of 2013, Bank of America is the twenty-first largest company in the United States by total revenue.
Bank of America provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms. Its Consumer Real Estate Services segment offers consumer real estate products comprising fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans.
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