Assets under management (AUM) provide the clearest glimpse into the health and momentum of the global private banking industry. Growth in AUM is crucial as it reflects private banks’ ability to capture flows from new wealth creation, retain clients through volatile cycles, and expand advisory influence across multiple generations and geographies. Amid rising competitive pressures, cross-border complexity and technological disruption, sustained AUM growth signals not only a private bank’s ability to adapt to ever-changing market conditions but also how it maintains the long-term trust of increasingly demanding clients. Against that backdrop, Euromoney presents its inaugural the world’s largest global private banks by AUM research – the first in a regular series that will benchmark growth and success in the evolving wealth industry.
Assets under management remains the definitive barometer of success in the fiercely competitive global wealth space, measuring a bank’s ability to attract and retain ultra/high-net-worth (U/HNW) clients and its capacity to navigate complex market conditions.
The debut world’s largest global private banks by AUM report reveals a sector undergoing transformation, with an average AUM growth rate of 16.9% during the 12 months to 3Q24. But the headline figures mask deeper structural shifts. The industry is reshaping itself in the wake of Credit Suisse’s collapse, amid accelerating digital transformation and sophisticated client demands.
Key trends in AUM
Scale wins in wealth
Scale continues to bestow advantages in capturing client flows, with the largest institutions absorbing the bulk of new assets on an absolute basis. The top five banks by AUM – UBS Global Wealth Management, Morgan Stanley Private Wealth Management (PWM), Wells Fargo, Goldman Sachs Private Wealth Management and JPMorgan Private Bank – collectively increased their AUM by approximately $11.6 trillion.
This partially reflects a flight to safety by global U/HNW clientele focused on counterparty risk after Switzerland’s number-two private bank collapsed. Research from the Bank for International Settlements indicates that during and in the aftermath of the Credit Suisse crisis, wealthy clients demonstrated strong preference for institutions with higher capital ratios and global regulatory oversight.
UBS’s 16% growth represented $574 billion in new AUM. This extraordinary performance reflects unparalleled global reach and client confidence after the integration of Credit Suisse. As UBS CEO Sergio Ermotti noted at the bank’s AGM in April: “We will never compromise on UBS’s strong culture, conservative risk approach or quality service.”
Morgan Stanley’s 24% AUM growth represented $445 billion in absolute gains. The bank’s wealth management division has benefitted from cross-selling opportunities with institutional clients and proprietary investment products. Group CEO Ted Pick has emphasised the “clear and consistent business purpose: to act as a trusted adviser to clients globally, helping them raise, manage and allocate capital.”
JPMorgan Private Bank’s 18% rise in assets reflected both client confidence – given the banking group’s strong 15% CET1 ratio as of 3Q24 – and superior digital capabilities. Recognised by Euromoney as the world’s best private bank for digital solutions at the Private Banking Awards 2025, JPMorgan boasts advanced data analytics to enhance personalisation and client engagement. By monitoring behavioural trends – such as app usage, trading patterns and content interactions – the bank tailors recommendations to align with each client’s financial goals.
Markets drive performance
Global private banking AUM growth was amplified by capital-markets performance – the S&P 500 returned 22% in the 12 months to 3Q2024. According to JPMorgan’s 3Q2024 market review, US equities delivered “exceptional returns” driven by artificial intelligence (AI) optimism and technology-sector outperformance.
This created advantages for banks with strong equity advisory capabilities, particularly evident with the big Wall Street wealth players including JPMorgan Private Bank, Morgan Stanley PWM and Goldman Sachs PWM. But it was not just US banks benefitting. DBS Private Bank’s 20% AUM increase in the period reflected strategic positioning in Asian growth markets, where local economic expansion and favourable equity performance boosted client portfolios.
Pure-plays resilient
Pure-play private banks – those focusing solely on wealth management – showcased resilient performance. Julius Baer achieved 12% AUM growth to $570 billion, supported by an ‘open architecture’ approach to products that seeks to avoid the conflicts of interest inherent in universal banks. However, this focus comes at a cost: the Swiss bank’s adjusted cost/income ratio of 70.9% remained far from its sub-64% target, prompting CHF110 million in cost-savings programmes.
Pictet Group delivered 18.8% AUM growth to $821 billion, supported by CHF11 billion in net new money for FY2024. Senior managing partner Marc Pictet said at the time: “Investment performance was excellent and positive market effects helped us reach an all-time high in assets under management. Clients continue to value our distinct investment capabilities and the stability we provide.” Pictet’s partnership structure, where top partners average 23-years tenure, intends to create long-term alignment with clients in terms of investment outcomes.
Mixed picture for Europe’s universal banks
European universal banks’ wealth units showed varied performance. Indosuez Wealth Management recorded 67.6% AUM growth to $233 billion, flattered by the €1.59 billion Degroof Petercam acquisition completed in June 2024. The deal created a European leader with approximately €200 billion in client assets.
BNP Paribas Wealth Management achieved 12% AUM growth with strong sustainability-focused investment performance. Deutsche Bank Private Bank recorded a 10% rise in the 12 months to 3Q2024 to $697 billion, supported by robust capital markets and family-office offerings. Meanwhile, Santander Private Banking’s 17% growth to $361 billion in AUM reflected successful expansion across Latin American and European markets.
Looking ahead
The world’s largest global private banks by AUM report demonstrates how the best-performing private banks captured market share while focusing on operational strength across products, technology and risk management – a combination favouring the largest global institutions with economies of scale.
Looking ahead, the global private-banking landscape continues to benefit from conducive capital-markets performance, illustrated by 2025’s strong performance for global equities. However, banks that have used strong market conditions to strengthen operational capabilities and build diversified revenue streams will be better positioned for sustained growth across cycles. On the other hand, those relying primarily on market appreciation may face challenges if and when equity valuations normalise.
Learn more about the AUM rankings methodology. For more on our private banking benchmarking and insights, contact Euromoney’s head of private banking Daniel Shane.
More reports
Top 30 private banks by AUM
1. UBS Global Wealth Management ($4.3 trillion)
UBS Global Wealth Management, following its acquisition of Credit Suisse, strengthened its position as the world’s largest private bank by assets under management (AUM). The Zurich-based giant’s AUM reached $4.30 trillion as of Q3 2024, representing 15.6% growth year-on-year.
Growth was driven by successful integration of Credit Suisse’s client base, adding substantial scale and fresh talent to UBS’s global franchise. The acquisition expanded UBS’s presence in key markets and enabled cross-selling opportunities to newly inherited Credit Suisse clientele. Initial concerns over client confidence after the forced marriage were countered by strong net new-money inflows of $25 billion in Q3 2024 alone.
The bank benefits from economies of scale in technology, research and client service that smaller peers cannot match, while maintaining a CET1 ratio of 15.6% and strong operational metrics with a cost-to-income ratio of 78.5%.
2. Morgan Stanley Private Wealth Management ($2.3 trillion)
Morgan Stanley Private Wealth Management achieved 24% AUM growth in the 12 months to Q3 2024, reaching $2.3 trillion in AUM.
The private bank benefits from cross-selling opportunities with institutional clients and access to proprietary investment products unavailable to pure-play competitors, notably in alternative investments and structured financing.
Growth was underpinned by the bank’s equity-focused book during the S&P 500’s 22% gain through to Q3 2024. Morgan Stanley enhanced coverage of the higher return-on-asset ultra-high-net-worth (UHNW) segment, with personalised engagement with entrepreneurs, family offices and next-generation clients through specialised adviser teams and tailored investment solutions.
The bank has deepened collaboration between private banking, capital markets and investment banking functions, as it seeks to bring institutional-grade investment opportunities to wealth clients.
3. Wells Fargo Wealth and Investment Management ($2.29 trillion)
Wells Fargo’s AUM grew by 18% in the 12 months to Q3 2024, hitting $2.29 trillion in total client assets. That came amid a 13% increase in non-interest income driven by strong market performance and rising brokerage activity.
Operationally, Wells Fargo benefitted from strong distribution capabilities across traditional advisory, retail bank-based channels and independent networks – Wells Fargo Advisors Financial Network and First Clearing.
Product innovation centred on digital transformation and expanded investment offerings, while disciplined cost management helped to maintain efficiency ratios. The integration of lending, deposit and investment services contributed to client acquisition and wallet-share expansion.
4. Goldman Sachs Private Wealth Management ($1.6 trillion)
Goldman Sachs Private Wealth Management’s AUM reached $1.6 trillion as of 4Q2024, as the Wall Street bank benefited from strong US markets and a robust suite of alternative investments for its clients. Goldman Sachs was named the world’s best private bank at Euromoney’s Private Banking Awards 2025, recognising its differentiated investment platform and institutional-grade capabilities.
Growth was in part driven by Goldman’s suite of exclusive alternative investment solutions, with the bank presenting more than 60 unique opportunities to clients in 2023. The private bank has packaged these exclusive products as part of a holistic offering, encompassing lending, trust, estate and tax planning services. Alternative investments now comprise on average 45% of family office portfolios, according to the bank, with the rollout of evergreen funds broadening clients’ access to private markets and co-investment opportunities.
Regional expansion, particularly in EMEA and Asia, has also fuelled growth.
5. JPMorgan Private Bank ($1.18 trillion)
JPMorgan Private Bank grew global AUM by 18% to $1.18 trillion in the 12 months to Q3 2024, benefiting from equity market tailwinds, alternative-investment capabilities and deepening penetration in the family office space. The bank attracted more than $117 billion in net new assets in the first three quarters of 2024.
Recognised by Euromoney as the world’s best private bank for digital services, JPMorgan offers proprietary AI tools including Connect Coach, which answers portfolio questions and drafts emails.
Growth was supported by parent JPMorgan’s robust 15.7% CET1 capital ratio, providing client confidence in the institution’s financial strength. The bank’s emphasis on holistic, multi-generational wealth planning and family governance resonated with clients seeking long-term partnerships.
Alternative investments played a critical role, with private equity, real estate, private credit and hedge funds comprising 45% of family office portfolios on average. The rollout of evergreen funds in 2024 broadened clients’ access to private markets and co-investment opportunities. The acquisition of First Republic Bank provided US expansion opportunities and enhanced the bank’s family office capabilities.
6. RBC Wealth Management ($958 billion)
RBC Wealth Management reported $958 billion in AUM as of Q3 2024, reflecting 26% growth year-on-year. The Toronto-based bank is one of the largest wealth managers in North America, serving clients across Canada and international markets.
The bank’s performance has been driven by consistent net asset inflows and strong market performance, particularly benefiting from North American equity gains throughout 2024. RBC’s integrated platform combines discretionary portfolio management, family office services, chief investment office capabilities, and philanthropic advisory services.
The wealth management division also benefits from RBC’s broader banking relationships and cross-selling opportunities across commercial banking, capital markets and retail banking divisions.
7. Pictet Group ($821 billion)
Pictet Group delivered 18.8% AUM growth to $821 billion as of Q3 2024, supported by CHF11 billion in net new money and strong performance of its investment portfolio. The Geneva-based institution achieved record-high AUM, with consolidated profit rising 15% to CHF665 million in the same period.
The bank’s partnership structure, where the top 40 individuals own equity stakes and managing partners average 23-years tenure, is intended to create long-term alignment with its clients’ goals.
Pictet’s specialisation in thematic investment strategies, including its 25-year-old Water strategy, provides differentiated offerings unavailable at universal banks that more typically focus on transaction volumes. The bank’s sustainable investing capabilities have attracted growing client interest, with 35% of global AUM allocated to sustainable investments in 2024.
The bank maintains strong financial metrics with total equity of CHF3.78 billion and a robust capital ratio of 24.5%.
8. Deutsche Bank Private Bank ($697 billion)
Deutsche Bank Private Bank grew global AUM by 10% to $697 billion in the 12 months to Q3 2024, driven by strategic expansion, talent investment and product innovation. The bank recorded €29 billion in net new assets and was recognised as the world’s best for entrepreneurs at Euromoney’s Private Banking Awards 2025.
A particular bright spot was the Global South Asia and Africa (GSAA) business, where AUM rose 14% during the period.
The bank broadened coverage across more than 60 client markets and 12 booking centres, hiring over 60 relationship managers in key regions. Deutsche’s One Bank model of sharing products and client relations across private, corporate and investment banking divisions enabled bespoke solutions for UHNW and entrepreneur clients, particularly in cross-border and multi-asset financing.
Product innovation featured prominently in 2024, with new discretionary portfolio management (DPM) offerings, environmental, social and governance (ESG)-focused funds, and alternative-investment solutions such as L Catterton Europe V and Blackstone Private Equity Strategies. Growth in AUM of ESG-integrated solutions outpaced other assets, reflecting successful sustainability positioning.
9. Bank of America Private Bank ($666 billion)
Bank of America Private Bank achieved 16% AUM growth to $666 billion in the 12 months to Q3 2024, driven by strategic engagement with family offices and next-generation clients. As the largest US trust company, the private bank combines boutique client experience with Bank of America’s scale.
Specialised offerings in investment management, lending and specialty asset services attracted affluent individuals and family offices, with the latter seeing 24% year-over-year balance increases. Targeted engagement with next-generation clients (ages 18-40) led to $2 billion in balance increases.
The bank was recognised as North America’s best for family-office services and North America’s best for philanthropic advisory at Euromoney’s Private Banking Awards 2025. Its philanthropic advisory platform and comprehensive wealth planning services have supported sustained client momentum.
Continued investment in technology, talent and personalised services has strengthened the bank’s competitive position in serving UHNW families and entrepreneurs.
10. Julius Baer ($570 billion)
Julius Baer, Switzerland’s largest pure-play private bank, reported $570 billion in AUM for the first 10 months of 2024, representing 12% year-on-year growth. The bank was recognised as Asia’s best pure-play/boutique private bank and the world’s best for discretionary portfolio management by Euromoney at the Private Banking Awards 2025.
Asia accounted for 25% of the bank’s global AUM and workforce in 2024, with Julius Baer reinforcing regional leadership through a new 75,000 sq ft facility in Singapore, its second-largest global hub.
However, operational challenges persist with the bank’s adjusted cost-to-income ratio of 70.9% remaining far removed from its stated target of less than 64%. This prompted cost-reduction programmes targeting CHF110 million in savings by end-2025.
Sustainability has played a significant role for the bank, with 35% of global AUM allocated to these investments. In DPM, Julius Baer has expanded offerings with new funds built on its investment model to support diversified growth.
11. BNP Paribas Wealth Management ($509 billion)
BNP Paribas Wealth Management reported $509 billion in AUM as of Q3 2024, marking 12% year-on-year growth. As the largest private bank in the eurozone, about 80% of its AUM comes from this region.
In 2024, the bank strengthened its position by acquiring HSBC’s private banking operations in Germany, doubling domestic client AUM to more than €40 billion and deepening its penetration among high-net-worth (HNW) individuals. The acquisition will enhance BNPP’s fast-growing entrepreneurs and families segment – clients with more than €25 million in investable assets – representing 40% of total AUM.
BNPP achieved a record-breaking €27 billion in net new money in 2024, the highest in its history. DPM contributed €9 billion, accounting for 13% growth in DPM AUM. The bank was recognised as Western Europe’s best for investment research at Euromoney’s Private Banking Awards 2025.
Asia remains a cornerstone of BNP Paribas Wealth Management’s global footprint, contributing 20% of total AUM based on its 160-year regional legacy.
12. LGT Private Banking ($429 billion)
LGT Private Banking grew AUM by 16% $429 billion as of Q3 2024, according to a Euromoney estimate. Operating across 30 locations in 13 countries, the bank was recognised as Western Europe’s best pure-play/boutique private bank at the Euromoney Private Banking Awards 2025.
Growth drivers included the acquisition of Commonwealth Private Advice, a UHNW advisory division in Australia, adding CHF2.8 billion in AUM. This strengthened LGT’s geographic footprint and reinforced its pure-play boutique positioning.
The private bank is also committed to digital transformation, as demonstrated by a CHF200 million investment earmarked over five years. Notable initiatives have included establishing a digital hub in Barcelona, launching AI-powered platform Lumen, adopting agile operational structures and rolling out client-centric digital solutions through SmartBanking offerings.
A focus on alternative investments earned the bank Western Europe’s best private bank for alternative investments 2025. Between 2023 and 2024, LGT attracted over $2 billion in client subscriptions for alternative investment solutions. Clients had exclusive access to offerings provided by LGT Capital Partners, Lightrock, and L-GAM.
13. HSBC Global Private Banking ($397 billion)
HSBC Global Private Banking reported $397 billion in invested assets as of Q3 2024, representing 20% year-on-year growth. The bank was recognised with multiple awards at the Euromoney Private Banking Awards 2025 including Hong Kong’s best private bank and Hong Kong’s best for UHNW.
A key driver of growth has been HSBC’s strong position in Asia, where Hong Kong remains its largest booking centre. Despite market volatility, the bank achieved double-digit growth in both client assets and total revenue, with investment and insurance playing significant roles. The bank was named Asia’s best private bank for fund selection in 2025, offering access to more than 300 actively managed funds and 500 exchange-traded funds.
Beyond Asia, HSBC demonstrated strong performance in the Middle East with 7% year-on-year growth in total client positions. UHNW clients accounted for 90% of regional client assets and 85% of revenue, with average UHNW relationship size increasing 14%.
14. Santander Private Banking ($361 billion)
Santander Private Banking reported $361 billion in AUM as of Q3 2024, marking 17% year-on-year growth. The Spanish bank was recognised as the world’s best for international Latin American clients and Latin America’s best international private bank at Euromoney’s Private Banking Awards 2025.
Its performance was aided by the expansion of its alternative-investment offerings, with the bank launching its first private equity funds in Mexico and Poland, while accelerating activities in Portugal and Brazil.
DPM initiatives included the launch of Unique Portfolios, allowing clients to tailor model portfolios based on individual preferences such as geographic focus or sector trends. The bank also developed Innova Index portfolios for passive investment strategies. DPM and advisory mandates reached €54 billion in total assets as of Q3 2024, reflecting 10% growth in client numbers and 30% revenue increase.
International expansion included opening a new branch in Dubai International Financial Centre in September 2024, targeting clients from the emerging wealth creation hub.
15. BMO Private Wealth ($303 billion)
Bank of Montreal’s BMO Private Wealth reported $303 billion in AUM, or 27% year-on-year growth. The Canadian bank has approximately 700 relationship managers serving HNW clients.
Growth was driven by expansion in less-penetrated North American markets and enhanced cross-border capabilities. The bank benefits from BMO’s broader banking relationships and integrated platform combining wealth management with commercial and retail banking services.
Revenue reached C$1 billion in 2024, up from C$824 million in 2023, or 21.4% growth. The wealth management division generates revenue through DPM, advisory services and integrated banking solutions for wealthy clients, and management services for globally mobile clients seeking cross-border solutions.
16. Scotiabank Global Wealth Management ($268 billion)
Scotiabank’s Global Wealth Management business reported $268 billion in AUM, reflecting 18% year-on-year growth. The bank serves more than 2.5 million investment fund and advisory clients across 13 countries spanning Canada, the Caribbean and Latin America.
Scotiatrust provides comprehensive wealth-transfer and succession-planning services through estate planning, philanthropic strategies and trust solutions. The bank’s advanced planning and services team delivers holistic planning for UHNW clients, focusing on structural and legacy wealth considerations.
Adviser training initiatives emphasise building stronger relationships with female clients and engaging next-generation investors. The bank’s diversified geographic footprint across North and Latin America provides robust positioning for serving internationally mobile clients seeking cross-border wealth solutions.
17. ABN AMRO Private Banking ($265 billion)
ABN AMRO Private Banking reported $265 billion in client assets as of Q3 2024, up 14.4% year-on-year.
Factors that contributed to AUM growth included the acquisition of European neo-broker BUX in July 2024, which added approximately 500,000 new clients and enhanced the bank’s digital capabilities.
Favourable market conditions and higher asset-management fees supported double-digit growth in net fee and commission income. Operational efficiency focus, reflected in improved operating results and stable cost-to-income ratio, further underpinned financial performance.
The bank’s strong positioning within the Dutch market provides competitive advantages while its broader European network enables international wealth.
18. J. Safra Sarasin ($255 billion)
J. Safra Sarasin, the fourth-largest banking group in Switzerland, reported $255 billion in AUM as of Q3 2024, representing 14% year-on-year growth.
Sustainability is core to the bank’s approach. J. Safra Sarasin integrates sustainability across investment strategies, guided by a robust sustainable investment policy embedding ESG criteria throughout the investment process.
The bank’s stewardship strategy includes active engagement, proxy voting and collaboration with other investors to foster positive change. J. Safra Sarasin is aiming for net-zero emissions by 2035 and supports biodiversity initiatives.
19. Lombard Odier ($253 billion)
Geneva-based Lombard Odier reported 11% growth in AUM to $253 billion as of Q3 2024, according to a Euromoney estimate. The bank is considered among the world’s best-capitalised institutions, supported by a CET1 ratio of 31.7% and AA- credit rating.
The bank’s success in 2024 was partly driven by its focus on innovation, particularly through launching new products and digital solutions. Key developments included the rollout of its Elus platform, offering customisable structured products across 15 counterparty banks, enabling yield-enhancing and capital-protected investment structures.
The bank expanded its product offering with enhanced structured products, hedge-fund feeder programmes and annual private equity vintage releases backed by more than two decades of private-assets experience.
The bank also introduced enhanced discretionary mandates, tailored to sustainability objectives and bespoke client preferences.
20. Indosuez Wealth Management ($233 billion)
Indosuez Wealth Management, the private banking arm of Crédit Agricole Group, reported 67.6% year-over-year AUM growth to $233 billion in Q3 2024.
The big contributor was Indosuez’s acquisition of a 65% stake in Degroof Petercam, a Belgian private bank and asset manager. This significantly expanded Indosuez’s footprint in markets where it previously had limited presence, notably Germany and Canada. Indosuez is now positioned as a global wealth management player active in 12 markets worldwide. €74.3 billion in net client assets were attributed to Degroof Petercam, according to public disclosures.
Indosuez earned recognition as Western Europe’s best for UHNW at Euromoney’s Private Banking Awards 2025.
21. DBS Private Bank ($221 billion)
DBS Private Bank reported $221 billion in AUM as of Q3 2024, reflecting 20% year-over-year growth. The Singapore-based bank was recognised as Asia’s best private bank for the third consecutive year in 2025 by Euromoney.
The bank’s strong financial performance has been underscored by its 39% cost-to-income ratio, 18.2% return on equity, and 20% growth in wealth management income and AUM in the period under review for this research. Fee income surged 39% year-over-year, outperforming global peers. DBS’s proprietary investment strategies, including its Barbell Strategy, have consistently beaten their benchmarks since their inception.
DBS’s success has been driven by its One Bank proposition, integrating corporate, institutional and private banking to deliver tailored solutions for Asia’s entrepreneurial elite.
22. Edmond de Rothschild ($212 billion)
Edmond de Rothschild, a family-owned private bank based in Geneva, reported $212 billion in AUM as of Q3 2024, marking 18% year-on-year growth.
One driver has been the bank’s sustainability offering. The bank was recognised as best bank for sustainability in Switzerland by Euromoney at the Private Banking Awards 2025.
As a result of its sustainability-focused approach, 80% of the bank’s AUM is allocated to high-intent strategies, including 33% in impact investing through private equity. The bank disclosed that 47.5% of its in-scope AUM, equivalent to €26 billion, is managed in alignment with net-zero emissions targets by 2050.
The bank’s family ownership structure is intended to enable long-term strategic decision-making and consistent investment in sustainable capabilities.
23. EFG International ($194 billion)
Zurich-based pure-play private bank EFG International reported 11.2% growth in AUM to $194 billion as of Q3 2024, according to a Euromoney estimate, capping off 12 consecutive quarters of positive net new assets.
EFG focuses exclusively on HNW and UHNW individuals, with 50% of total AUM attributed to UHNW clients.
The bank’s ability to attract net new assets has been partly attributed by EFG to its work culture and hiring model, granting relation managers substantial commercial autonomy and entrepreneurial freedom compared with more regimented peers. In 2023, the bank hired 141 relationship managers, followed by an additional 60 in the first 10 months of 2024.
EFG operates across more than 40 locations, with growth being driven by the Middle East, continental Europe and Asia-Pacific.
24. Union Bancaire Privée ($175 billion)
Geneva-based pure-play private bank Union Bancaire Privée (UBP) reported $175 billion in AUM as of Q3 2024, 12.9% year-on-year growth. One of the bank’s main selling points with clients is its conservative approach to risk and strong balance-sheet management, with a tier-1 capital ratio of 27.2%.
AUM growth in 2024 was driven by strategic acquisitions, including the purchase of Angel Japan Asset Management in 2023.
UBP also reinforced its leadership in alternative investments through its Private Markets Group, earning recognition as Asia’s best for alternative investments by Euromoney at the Private Banking Awards 2025.
25. Societe Generale Private Banking ($172 billion)
Societe Generale Private Banking reported $172 billion in AUM as of Q3 2024, marking 7.7% year-on-year growth. The French bank was recognised as the world’s best for philanthropic advisory and Western Europe’s best for philanthropic advisory at Euromoney’s Private Banking Awards 2025.
A key growth driver was Le29H, a division serving UHNW clients and wealthy families. Le29H delivers vetted investment opportunities and customised wealth strategies, combining institutional-grade expertise with tailored advisory services for navigating complex, multi-generational wealth challenges. The division serves 600 of France’s richest family-owned groups.
26. CaixaBank Private Banking ($165 billion)
Spain’s CaixaBank Private Banking reported $165 billion in AUM as of Q3 2024, an 8.9% year-on-year increase. Since 2020, the bank has nearly doubled its AUM.
Flagship offerings such as CaixaBank Wealth and OpenWealth have solidified the bank’s position in the UHNW segment. OpenWealth currently oversees €7.5 billion across 50 UHNW clients.
The recent launch of its GPS platform, developed with BlackRock’s Aladdin Wealth, integrates sophisticated portfolio analysis and risk-management capabilities into its advisory framework.
27. Itaú Private Bank ($164 billion)
Brazil’s Itaú Private Bank, part of Itaú Unibanco and one of Latin America’s largest private banks, reported $164 billion in AUM as of Q3 2024, a 6.5% year-on-year increase.
Itaú’s AUM benefitted from a strong push into alternative investments through the bank’s partnership with Brown Advisory. The tie-up provides clients exclusive access to international private equity and hedge-fund opportunities in Latin America and beyond.
The bank celebrated its 100th anniversary in 2024 and holds approximately 30% of the private banking market in Brazil.
28. BBVA Private Banking ($156 billion)
BBVA Private Banking achieved 18.2% year-over-year growth to reach $156 billion in AUM as of Q3 2024, reinforcing its position as one of Spain’s premier wealth management platforms.
The Madrid-based private bank serves HNW individuals with more than €2 million in investable assets, providing comprehensive wealth management, investment advisory and family office services. BBVA’s private banking division benefits from the group’s extensive international network, particularly its strong presence in Mexico and South America, enabling sophisticated cross-border solutions for globally mobile clients.
The bank has invested significantly in talent acquisition, adding 28 new private bankers to its Spanish operations in 2024 to deepen client coverage and enhance service delivery. BBVA’s wealth management platform combines DPM, alternative-investment access and structured products, supported by the group’s institutional-grade research and investment capabilities.
29. Bank of Singapore ($120 billion)
Bank of Singapore, OCBC Group’s private banking arm, reported $120 billion in AUM as of Q3 2024, with 3.5% year-on-year growth.
The lender serves clients with more than $5 million in investable assets, and differentiates itself through its Asian market expertise and strong research capabilities, particularly in regional equities and currencies.
Bank of Singapore’s investment platform provides access to global markets while maintaining deep, local insights into Asian investment opportunities, family office structures and regulatory environments. The bank has focused on enhancing its digital capabilities and client-engagement tools, despite facing headwinds from market volatility and competitive pressures in Singapore’s concentrated private banking market.
Recent strategic initiatives have emphasised next-generation client engagement, sustainable investing solutions and enhanced alternative-investment offerings, including private equity and real-estate opportunities.
30. Barclays Private Bank ($61 billion)
Barclays Private Bank reported $61 billion in client assets and liabilities as of Q3 2024, reflecting 16.2% year-over-year growth.
Following strategic restructuring over recent years, Barclays has concentrated its wealth management efforts on HNW and UHNW clients globally, with strength in the UK market.
The London-based private bank leverages Barclays Group’s extensive international network and strong institutional capabilities in capital markets, foreign exchange and structured products. Growth has been supported by improved client engagement, enhanced digital platforms and expanded alternative-investment offerings.
The bank’s private banking division has emphasised family office services, trust and estate planning, and cross-generational wealth transfer solutions.