Bank Of America Still World’s Biggest Wealth Manager

cash-in-hand

According to a report out today ranking the world’s 20 biggest wealth managers. BofA took the top spot with $1.944 trillion in assets in private banking followed by Morgan Stanley with $1.628 trillion and UBS AG with $1.559 trillion.

The increase in AUM for the private banking industry was helped primarily by market gains which helped boost assets by 11% last year as the top 20 wealth managers oversaw $11 trillion, according to Scorpio Partnership a London-based consultant to the wealth management industry that assembled the report.

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