From 2020 to 2024, Asia’s private banks expanded their total Asia ex-China onshore AUM by 32%, increasing from US$2,346 billion to US$3,093.5 billion over the five years. The fastest growth in industry AUM occurred in 2023, when AUM across private banks grew 24.6%, following a year when AUM contracted by 6.2% in 2022. Out of the 23 private banks included…
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