Asia’s Big Private Banks Increase Assets Under Management
Asia’s biggest private banks increased their assets under management to a record in 2016 rebounding from a 2015 decline. According to the Asian Private Banker, assets managed by the regions’ top 20 private banks grew by 6.1% to $1.55 trillion in 2016.
“Assets managed by the regions’ top 20 private banks grew by 6.1% to $1.55 trillion in 2016.”
The increase in assets under management was partly due to Bank of Singapore’s purchase of Barclays Plc’s wealth-management units in Singapore and Hong Kong and Union Bancaire Privee’s acquisition of Coutts International.
Related Reports: Bloomberg
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