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CMB Private Banking’s AUM jumps 32.5%

China Merchant Bank’s private banking arm, the country’s largest wealth manager by assets under management (AUM), recorded a hefty 32.54% YoY increase in AUM in 2016, pushing it well beyond the RMB 1.5 trillion threshold and bringing it within striking range of Swiss giant, UBS Wealth Management in APAC. At the end of 2016, CMB Private Banking’s total AUM reached RMB 1,659.5 billion,…

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