The region’s (ex-China onshore) private banking relationship manager headcount remained flat, at 5,682 (+4% YoY), with only HSBC Private Banking (+19%) and EFG (+193%) posting at least double-digit percentage increases among the Top 10 by RM population.
Maybank Private (+44%) and J. Safra Sarasin (+33%) too recorded significant increases, while Standard Chartered Private Bank saw the biggest percentage decline (-18%). UBS, which also recorded a net decrease, remains the largest employer of RMs by a long stretch, with 1,041 as at the end of 2019.
Average AUM per RM of the Top 20 banks by AUM jumped 17% as asset growth outpaced headcount growth and a number of banks upped the ante on banker productivity. Goldman Sachs Private Wealth Management, which has a minimum client asset requirement of US$100 million, unsurprisingly retains the number one spot at US$923 million per RM, followed by ultra-skewed Pictet Wealth Management (US$675 million) and J.P. Morgan Private Bank (US$670 million), which has a minimum asset requirement of US$10 million.
Asia (ex-China onshore) RM headcount
All figures are APB estimates unless otherwise stated. Individual bank footnotes available on ⓘ mouse hover.
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2019 AUM per RM
| RANK | BANK | AUM per RM (US$ million) | 2019 AUM | 2019 RM | YoY change in AUM per RM |
|---|---|---|---|---|---|
| 1 | Goldman Sachs Private Wealth Management | 923.0 | 92.3 | 100 | +4.6% |
| 2 | Pictet Wealth Management | 675.4 | 43.9 | 65 | +0.4% |
| 3 | J.P. Morgan Private Bank | 669.6 | 112.5 | 168 | +22.0% |
| 4 | Hang Seng Private Banking | 523.5 | 35.6 | 68 | +16.2% |
| 5 | UBS Global Wealth Management | 432.3 | 450.0 | 1,041 | +37.8% |
| 6 | BNP Paribas Wealth Management | 427.4 | 98.3 | 230 | +25.7% |
| 7 | Morgan Stanley Private Wealth Management | 394.6 | 131.0 | 332 | +18.4% |
| 8 | Credit Suisse AG | 378.9 | 227.3 | 600 | +7.1% |
| 9 | CMB Private Banking | 365.6 | 39.1 | 107 | +28.4% |
| 10 | LGT | 355.4 | 69.3 | 195 | +23.4% |
| 11 | UOB Private Bank | 308.3 | 37.0 | 120 | +25.1% |
| 12 | Julius Baer | 304.9 | 130.2 | 427 | +17.2% |
| 13 | Standard Chartered Private Bank | 296.0 | 58.6 | 198 | +41.5% |
| 14 | Bank of Singapore | 292.5 | 117.0 | 400 | +29.0% |
| 15 | Deutsche Bank Wealth Management | 286.7 | 63.7 | 222 | +4.2% |
| 16 | Bank of China (Hong Kong) Private Banking | 240.4 | 32.7 | 136 | +15.4% |
| 17 | HSBC Private Banking | 234.1 | 151.0 | 645 | +2.1% |
| 18 | J. Safra Sarasin | 185.4 | 20.8 | 112 | -12.5% |
| 19 | UBP | 163.2 | 19.1 | 117 | -9.1% |
| 20 | CIMB Private Banking | 154.4 | 21.8 | 141 | - |
| 21 | Indosuez Wealth Management | 150.0 | 15.0 | 100 | +7.1% |
| 22 | Maybank Private | 140.6 | 14.2 | 101 | -21.3% |
| 23 | EFG Bank | 112.2 | 32.5 | 290 | -40.6% |
View the Asia 2019 AUM League Table
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