Business growth and competition
From 2012 to 2021, UBS and Credit Suisse have consistently held the top two positions in Asia ex-China onshore AUM, with third place being more variable.
From 2012 to 2016, HSBC was the third-largest private bank in Asia. However, in 2017, the AUM of DBS Asia ex-China onshore rocketed by 86% to US$151 billion, leaping into third-place above HSBC and Julius Baer, which had AUM of US$129 billion and US$115 billion, respectively. HSBC reclaimed third place in 2021.
When Credit Suisse collapsed in 2023, DBS replaced the bank as the third largest in AUM with US$200.7 billion, while HSBC held second place for two consecutive years with US$204 billion.
The industry saw the biggest YoY jump in 2017, when aggregate AUM increased 34% to US$1.691 trillion.
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