Asia’s private banking AUM crosses US$3 Trillion
A shake-up at the top
Asia’s private banking assets under management (AUM) hit new heights. The latest rankings tell a story beyond the numbers – risers and fallers highlight the region’s shifting dynamics. One familiar name made a bold leap into the top five, proving that any player can redefine their path in a cutthroat market.
Wealth continuum Asia AUM jumps 17%
One more player to the list
Retail-linked banks continue to leverage their deep local expertise across Asia to meet the growing demands of clients across the wealth continuum. The addition of another Singapore-based bank highlights the market’s rapid evolution and how even established players are adapting to the wealth boom in the region.
Slower growth for global sustainable investment AUM
New league table format unveiled
As global sustainable investment (SI) continues to gain some traction, SI AUM has demonstrated its value with moderate global growth. The newly introduced league table format highlights several risers and fallers, showcasing the sector’s evolving dynamics.
RM hiring momentum slows
Banks fine-tune RM teams with mixed growth
Two private banks boosted relationship managers headcount by over 30%, while a few saw double-digit growth. However, some reported single-digit increases, with others maintaining or reducing headcounts. Overall, hiring slowed in 2024 compared to the 20% growth seen in 2023.
Asia faces slower growth in DPM
No significant leaps
In Asia, private banks are seeing slower growth in discretionary portfolio management (DPM) AUM. In 2024, no bank has made a significant leap – most have remained stable, maintaining their current positions.
